Africa: African Development Bank Group Presses Case for Investing in Women
[African Development Bank (AfDB)] When world leaders gathered at the United Nations in New York in March for the 70th session of the Commission on the Status of Women, the atmosphere was anything but routine. For the first time in 70 years, consensus broke down and member states had to vote on a declaration affirming women's access to justice. Thirty-seven countries said yes. One said no.
The African Development Bank Group has been advocating for increased investment in women at the United Nations Commission on the Status of Women in New York. This comes after a contentious session where only one country voted against a declaration supporting women's access to justice. Dr. Jemimah Njuki, the Bank's Director for Gender, Women and Civil Society, highlighted that women in Africa face a $42 billion gap in access to finance.
The Bank views investing in women as a key component of its Ten-Year Strategy and central to tackling economic and social challenges across the continent. This aligns with the upcoming Gender Action Plan (2027-2031) which aims to shift from individual projects to systemic approaches. The Bank has also strengthened its partnership with UN Women to improve capital mobilisation, infrastructure support and aid for women in conflict zones.
The Affirmative Finance Action for Women in Africa (AFAWA) initiative is a flagship program designed to close the $42 billion financing gap for women-owned businesses in Africa.
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