Gender inclusion will drive economic growth for ECOWAS — Gambian envoy
Mr Mohamadou Musa-Njie, the High Commissioner of The Gambia to Nigeria, says there is need for Africa, especially the ECOWAS sub-region, to promote inclusivity for everyone
By Patricia Amogu
Mr Mohamadou Musa-Njie, the High Commissioner of The Gambia to Nigeria, says there is need for Africa, especially the ECOWAS sub-region, to promote inclusivity for everyone including women.
Musa-Njie made this submission during the unveiling of the Women Chamber of Commerce, Credit Cooperative Union (WCCI- CCU) with the theme “She Financial Inclusion” in Abuja.
He said WCCI-CCU was a good initiative and congratulated the union for being able to come together with a common purpose that would foster collective growth.
“We all know that if yo
u empower women, you empower the nation; this cooperative union is basically giving them more opportunities to access more credit facilities and equally bringing them together with a voice.
“It is not just saying it and writing them in policy documents; we need to have that willful intent to be able to include women in all our development agenda.
“Once they are included, then, we will be able to progress as a nation; and like I said, women are better managers of resources.
“I just want to take this opportunity to congratulate The Gambia on its Independence Day celebration; The Gambia gained independence 60 years ago and one of the pillars of its economic empowerment is inclusion,” he said.
He added that the President of The Gambia, Adama Barrow, had unwavering support for inclusivity making sure that women voices were heard; hence, the WCCI programme was unveiled in Gambia.
In an address of welcome, Amb. Zainab Mohammed, Chief Executive Officer, Women Chamber of Commerce and Industry (WCCI), stressed on the resilience of women on financial management especially as regards savings.
“Today is more than an unveiling; it is a declaration of hope, a step towards a future where no woman is left behind simply because she lacks access to finance.
“It is a bold statement that says–women are not just participants in the economy—we are builders of industries, creators of wealth and architects of lasting change.
“Women have consistently proven their financial responsibility—globally; women-led businesses have loan repayment rates of just 1 per cent to 1.5 per cent, far below the five per cent to six per cent default rates seen elsewhere; when women borrow, they build; they do not waste.
“Yet, women have continually faced systemic barriers to financial inclusion.’’
According to her, across the world, 70 per cent of the 10 million women-owned SMEs are either unbanked or under-banked, representing a staggering 300 billion dollars market gap.
“In Nigeria alone, 40 per cent of MSMEs are owned by women, yet they struggle to access the capital they need to grow and thrive,’’ she said.
Dr Nurudeen Zaura, Technical Adviser to the President on Economic and Financial Inclusion, said the cooperative society would empower women to make informed financial decisions, strengthen their economic positions and support their families.
“By pooling resources, women can grow their businesses, create jobs and invest in education and healthcare,’’ he said.
Zaura was represented by Oluseye Adebiyi, Director, Policy and Programmes for the Presidential Committee on Economic and Financial Inclusion.
Dr Sarah Areo, a partner from the National Council of Women Societies (NCWS), said women needed to come together in unity, cooperation and compassion to grow through cooperatives.
Areo, who is also a director with the Area Council Service Secretariat, said that women with small businesses could break barriers of lack of access to funds.
“This is because women grow small scale businesses and we should come together and grow through cooperatives like this one,’’ she said. (NAN)
