The ECOWAS Parliament has called for increased efforts from regional lawmakers to enhance financial inclusion for West African women and foster investments aimed at promoting female entrepreneurship and economic empowerment. The Parliament’s Speaker, Memounatou Ibrahima, made this appeal during a statement at the closing ceremony of the Third Extraordinary Session and Second Parliamentary Seminar held in Lomé, Togo. Ibrahima highlighted the Parliament’s commitment to addressing the numerous challenges facing West African women, who are represented by the ECOWAS Female Parliamentarians Association (ECOFEPA).
The session culminated in a symposium themed “Financial Inclusion and Economic Empowerment of Women in the ECOWAS Sub-region,” organized by ECOFEPA. Ibrahima emphasized the importance of ensuring women have access to essential resources, including bank accounts, loans, and investment opportunities, which are crucial for them to realize their full potential. She stated that women are vital change agents and must be supported in their key roles to achieve the Sustainable Development Goals (SDGs).
The Speaker reiterated that financial inclusion for women should not only encompass access to financial services but also be recognized as a fundamental human right and a cornerstone of economic equality. She underscored the need for collective efforts from all sectors of society to implement policies that promote equity, enabling women to overcome the barriers they face in accessing financial resources. Ibrahima acknowledged that while the journey toward financial inclusion and empowerment is a long one, there is a need for intensive advocacy to create equitable opportunities for women entrepreneurs.
Veronica Sesay, President of ECOFEPA, also addressed the importance of investment and financial inclusion, stating that these initiatives would contribute to a more prosperous and egalitarian subregion free from oppression and discrimination against women. She highlighted entrepreneurship as a critical pathway for women’s financial independence and called for increased financial resources to empower women in both their economic endeavors and political aspirations. Dr. Jewel Howard-Taylor, a former Liberian Vice President, urged regional leaders to ensure West African women have access to credit facilities to support their businesses and noted that closing the gender gap could lead to a significant global GDP growth of $3 trillion.
