AfDB and UN Women Join Hands to Drive Women's Economic Empowerment in Africa

UN Women launched its Women’s Economic Empowerment Strategy during the event, aimed at accelerating gender equality and fostering inclusive economic growth.

Article:The African Development Bank Group (AfDB) and UN Women joined hands to host a side event a day ahead of the AfDB's Annual Meetings, showcasing their collaborative efforts to advance women's economic empowerment across Africa.

Held on Sunday, May 26, under the theme "The Future of Finance and Women's Economic Empowerment," the event brought together leaders and representatives from the public and private sectors, civil society organizations, and financial institutions.

The session featured welcome remarks from Anne Wang'ombe, Principal Secretary of the State Department for Gender and Affirmative Action in the Kenyan Ministry of Gender, Culture, the Arts, and Heritage, a keynote address from Harrieth Chiggai, Women Rights Advisor to the President of Kenya, and remarks from Nnenna Nwabufo, Director General for East Africa at the African Development Bank.

This collaboration marks a significant milestone as the AfDB and UN Women unite to address the economic disparities faced by women on the continent. UN Women announced that the AfDB would join the UN Women-led HeForShe Alliance, a coalition of leaders committed to gender equality. Additionally, Dr. Akinwumi A. Adesina, President of the African Development Bank Group, will be named a UN Women HeForShe Champion later this year in recognition of his leadership in advocating for gender equality in Africa.

Dr. Beth Dunford, Vice President of Agriculture, Human, and Social Development at the African Development Bank Group, emphasized the Bank's commitment to implementing policies that promote gender equality and eliminate gender-based violence and discrimination across Africa.

The event highlighted the Bank's efforts in line with its Ten-Year Strategy 2024-2033 and its Gender Strategy 2021-2025, which place women's empowerment at the forefront of its development agenda. Notably, the Bank approved $1.7 billion of investments for women entrepreneurs across 43 countries through its Affirmative Finance Action for Women in Africa (AFAWA) initiative, benefiting over 18,000 women-owned and led businesses.

UN Women launched its Women's Economic Empowerment Strategy during the event, aimed at accelerating gender equality and fostering inclusive economic growth. The strategy focuses on enhancing women's access to resources, opportunities, and leadership roles in the economy, with a goal of driving sustainable development and resilient economies.

Sarah Hendriks, UN Women's Director of Policy, Programme, and Intergovernmental Division, emphasized the economic imperative of women's empowerment, stating, "By unlocking the potential of women, we can drive sustainable development and foster resilient economies." She highlighted the strategy as a vision to support women to thrive and economies to prosper.