Africa Pushes to Close the $42 Billion Financing Gap Facing Women

Dr. Jemimah Njuki, the African Development Bank’s Director for Gender, Women and Civil Society, used the New York meetings to underline the economic value of investing in women.

A rare breakdown in consensus at the United Nations has put fresh attention on the economic barriers facing women, as African leaders and development institutions push for stronger access to finance, justice and economic opportunity. During the 70th session of the Commission on the Status of Women in New York, member states were forced to vote on a declaration supporting women's access to justice for the first time in the Commission's seven-decade history, with 37 countries voting in favour and one voting against.

Women represent roughly half of Africa's population, yet women-owned businesses face an estimated $42 billion financing gap, limiting their ability to start companies, expand operations, create jobs and participate fully in the continent's economic growth.

Women's equality is also an economic investment

Dr. Jemimah Njuki, the African Development Bank's Director for Gender, Women and Civil Society, used the New York meetings to underline the economic value of investing in women. The Bank sees greater access to finance, infrastructure, skills and economic opportunities for women as closely connected to Africa's growth and resilience, rather than treating gender equality as a separate social issue.

This thinking also featured during the Bank's 2026 Annual Meetings in Brazzaville, held under the theme "Mobilising Africa's Development Financing at Scale in a Fragmented World." Women's economic participation forms part of the Bank's Ten-Year Strategy, including its work to expand capital access, make better use of Africa's demographic potential and strengthen economies facing climate and development pressures.

A new Gender Action Plan looks beyond individual projects

The Bank's major engagement in New York involved the African Women Leaders Network at the African Union's Permanent Observer Mission to the United Nations, where discussions helped shape the upcoming Gender Action Plan for 2027–2031.

The plan is expected to move the Bank's gender work beyond isolated interventions and address structural barriers affecting women across labour markets, infrastructure, finance and economic policy. African women leaders and partner organisations contributed their priorities during the Commission session, giving the people affected by these challenges a direct role in shaping the plan before it becomes operational.

The Bank also strengthened discussions with UN Women around capital mobilisation, infrastructure investment and assistance for countries affected by conflict, with both organisations looking at ways to coordinate financing and technical expertise so resources can reach women more effectively.

Getting finance to women living through conflict

Reaching women in fragile and conflict-affected communities remains particularly difficult because traditional financial institutions and lending systems may be weak, inaccessible or absent. Discussions around the Women's Peace and Humanitarian Fund examined how financing tools could work more effectively for grassroots women's organisations operating under these conditions.

The African Development Bank pointed to its Crisis Response for Women and Affected Communities in Sudan as an example of how financial and humanitarian support can be connected. More than 95,000 women have been reached through cash assistance, livelihood support and essential services, while the programme also links economic empowerment with protection and access to justice.

Such programmes show why access to money cannot always be separated from safety, legal rights and essential services, particularly for women whose livelihoods have been disrupted by conflict or displacement.

AFAWA turns billions into opportunities for women entrepreneurs

Closing Africa's $42 billion financing gap for women-owned businesses remains one of the biggest challenges. The Bank's Affirmative Finance Action for Women in Africa (AFAWA) initiative has become a central part of its response, combining access to capital with policy reforms, mentorship and skills development rather than relying on lending alone.

AFAWA is working toward unlocking as much as $5 billion for African women entrepreneurs. It has already built partnerships with more than 200 financial institutions and channelled over $3.1 billion to women-led businesses, giving the Bank an established model that can be expanded across markets and sectors.

The conversations in New York reflected a wider shift in how women's economic participation is being discussed. Access to justice, finance, infrastructure, business opportunities and protection are increasingly being treated as interconnected parts of Africa's development challenge. For millions of women entrepreneurs and workers, closing these gaps could mean more than greater equality; it could open businesses, create employment, strengthen households and bring substantial economic potential into Africa's formal economy.