On Wednesday, the Federal Government urged banks to establish gender desks to identify and provide priority to prospective female borrowers.
The government stated that more women needed to be inspired to enter technically oriented sectors of science, technology, engineering, and mathematics despite the fact that women are regarded to be the backbone of the African economy.
Amb. Maryam Katagum, the Minister of State for Industry, Trade and Investment, made these remarks at the second series of the African Women Trade Conference 2022, which was organized by the Organization of Women in International Trade in collaboration with other OWIT African countries under the theme “Positioning African women for the next big opportunity in the regional and global marketplace.”
She stated that certain factors should be taken into account as part of attempts to position women so they can take advantage of the African Continental Free Trade Area.
“Preparation for gender inclusion in national AfCFTA strategies and policies. Companies have to invest in women directly by integrating gender policies and practices with global diversity: Women’s personal safety when determining working conditions and hours.
“Banks should set up gender desks with a view to go the extra mile in identifying and prioritising targets of potential women borrowers as a platform for ascertaining and providing financial empowerment from African Development Bank to support women-led farmers based associations and MSMEs to promote agriculture in certain African countries.
“Greater efforts need to be made to provide women with access to technical education and on-the-job training. Targeted entrepreneurship training can help women entrepreneurs grasp the opportunities that open markets create and calibrate their businesses toward those opportunities through creativity and innovation,” she remarked.
She believed that women have to be able to pioneer inclusive scientific advancements and influence commercial trends.
She urged everyone in Africa, regardless of background, to work together and be gender sensitive when implementing the African Continental Free Trade Area if it is to achieve its intended aim.
According to the minister, “With the launch of trading under the AfCFTA in January 2021, the expectations are high as relates to the expanded business prospects for women-led businesses, which will unlock the potential for African women to grow their businesses from micro to macro enterprises.”
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