‘Eliminating gender bias key to sustainable development in Nigeria’

Aishatu Aminu, country director of New Faces New Voices – Nigeria (NFNV), says eliminating gender bias in financial inclusion and economic empowerment is key to sustainable development.  

Aminu spoke at a workshop on women’s leadership and financial inclusion which was held in Lagos state during the weekend.

The workshop was themed ‘Women in leadership: A catalyst for advancing financial inclusion for women in NMSMEs’

Aminu said providing interventions that can help women in business would remove them from the lowest strata of the economy.

“In Nigeria, women are confronted with the hydra-headed challenges of access to finance, skills, technology, market and lack of an enabling ecosystem coupled with double-digit inflation and global recession which we cannot afford to deny,” Aminu said.

“It is a bitter truth we need to accept and work towards and try to eradicate what is called women poverty. We refuse to accept that.

“The purpose of this workshop is to provide knowledge, skills, and strategies to be resilient, scale up, and thrive as women entrepreneurs, and traders in the post-COVID-19 economy.

‘This workshop is designed to answer and prod you to ensure that your business is positioned for productivity and profitability.

“New Faces New Voices Nigeria is a business trade support organisation. One of our main objectives is to multiply the faces and amplify the voices of women in business.

“Finance and build competent women leaders that are making visible positive impacts. We are that organisation that empowers and enables business entrepreneurs in the formal and informal sectors.”

Also speaking, Shipra Chisha, director of programmes at Graca Machel Trust, South Africa, noted that women’s empowerment is essential in developmental goals.

She said this can be achieved through improved female literacy, investment in young girls and women, and the provision of flexible labour policies for them.

On her part, Carol Oyedeji, executive director of commercial banking at Ecobank, said the gender gap in financial services still exists despite increased awareness among financial organisations, donors, the government and private sectors.

She added that the potential of women is limited by barriers that prevent them from flourishing and achieving their hopes.

“Women face a dire situation and must make use of the dynamism and unique ingenuity that they are known for in the years to come to close the financial inclusion gap and stay ahead of the curve,” Oyedeji said.

“Globally, women participate in the workforce at a lower rate than men. It is estimated that women have fewer economic opportunities.

“More than 75 per cent of eligible men participate in the labour force compared to less than half of eligible women. Additionally, women are more likely to work in informal employment and in jobs that are low-paid, vulnerable, or undervalued.

“The COVID-19 crisis resulted in unprecedented job losses with women being the hardest hit and the gender gaps widened more.

“There is a disparity in access that women have to financial services than that of men.”

She said dismantling the barriers should cut across economic policies, laws and institutions, and societal and business culture to ensure the financial inclusion of women in Africa.

She also urged women leaders to promote inclusion and further boost women’s empowerment.