ECOWAS Parliament Concludes 3rd Extraordinary Session, Boosts Women’s Financial Inclusion

Raphael Oni

The Economic Community of West African States (ECOWAS) Parliament has concluded its Third Extraordinary Session and Second Parliamentary Seminar in Lome, Togo, with a resounding call to action: promote women’s financial inclusion and entrepreneurship in West Africa.

Speaker Rt. Hon. Memounatou Ibrahima emphasized the imperative during the closing ceremony, stressing that women’s access to resources, such as bank accounts, loans, and investment opportunities, is crucial for realizing their potential. “It is clear that women are change agents and should be supported in their key roles to accelerate the achievement of the Sustainable Development Goals (SDGs),” she said.

The session, which began on September 24, featured a symposium organized by the ECOWAS Female Parliamentarians Association (ECOFEPA) on “Financial Inclusion and Economic Empowerment of Women in the ECOWAS Sub-Region.” This symposium aimed to address the challenges women face in accessing financial services, thereby promoting economic empowerment.

Speaker Ibrahima further emphasized that financial inclusion should become a fundamental human right and a pillar of economic equality. She called for concerted efforts to drive policies that foster equity, enabling women to overcome obstacles. “Let us commit ourselves to the path where every woman will realize her full potential, where economic barriers are eliminated, and financial inclusion is a reality for all,” she added.

ECOFEPA President Veronica Sesay noted that investing in financial inclusion for women will create a more prosperous and egalitarian region, free from oppression and discrimination. “Entrepreneurship is the gateway to women’s financial redemption,” she stressed, emphasizing ECOFEPA’s push for more financial resources to empower women economically and politically.

Former Vice President of Liberia and Secretary General of the African First Ladies Peace Mission, Dr. Jewel Howard-Taylor, highlighted the Global Taskforce’s initiative to empower one million women in the trade industry. This initiative, she noted, can trigger a $3 trillion GDP growth rate globally. She quoted a report saying that closing the gender gap will have a profound impact on economic growth.

The ECOWAS Parliament’s commitment to women’s financial inclusion marks a significant step towards achieving economic equality and empowerment in West Africa. With renewed focus and collective effort, the region is poised to unlock the full potential of its women, driving growth, prosperity, and development.

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