Source: Punch Newspaper
The World Forum for Africa (WOFA) has joined forces with UN Women and the Office of the Vice President of Nigeria to promote financial inclusion among women. This initiative aims to dismantle socio-economic barriers while fostering economic growth, offering business grants and incentives as part of the program.
WOFA revealed in a statement that the initiative was officially launched during the Aso Accord Gender Workshop and subsequently spotlighted at the ShesIncluded Gender Inclusion Conference 2024, held in Abuja. At this event, over 300 women were equipped with skills and resources to improve their financial prospects.
“Our partnership with UN Women represents a vital step in empowering women across Nigeria,” said WOFA’s co-founder, Abi Haruna. “We are dedicated to establishing sustainable avenues for women’s economic participation and advancement.”
According to the EFInA Access to Finance survey, financial inclusion in Nigeria has made notable progress, with formal inclusion rates increasing from 56% in 2020 to 64% in 2023. However, challenges remain, as 26% of adults are still financially excluded, particularly in rural areas and northern regions, where exclusion rates reach up to 47%.
Dr. Nurudeen Zauro, Technical Adviser for Financial Inclusion at the Office of the Vice President, emphasized that the initiative goes beyond financial inclusion by addressing critical social issues such as maternal health, girl-child education, and gender-based violence. “This event explores the interconnectedness of these issues with economic and financial inclusion,” he noted.
WOFA stated that the program aligns with Nigeria’s broader goal of achieving a $1 trillion economy by ensuring women have access to essential financial services and economic opportunities.
This partnership represents a major milestone in Nigeria’s efforts to empower women economically and advance sustainable development.
