AU:Financial and Economic Inclusion of women and youth; efforts to abolish structural barriers.

INFORMATION & COMMUNICATION DIRECTORATE

Press Release No: 123/2024                                                        Date:  18^th July, 2024
Venue: Accra, Ghana

Financial and Economic Inclusion of women and youth; efforts to abolish structural barriers.

The African Union Commission’s Women, Gender, and Youth Directorate (AUC-WGYD), in partnership with the Gender and Development Initiative in Africa (GADIA) of the AU Champion on Gender and Development Issues in Africa and development partners, are convening the technical and advocacy meetings on women, gender, and youth development with a particular focus on the Women and Youth Financial and Economic Inclusion 2030 Initiative (WYFEI 2030).

Recognizing the need to address structural barriers that continue to conspire to perpetuate poverty, deprivation, and social injustice among women and youth in Africa, the AU through the Women, Gender, and Youth Directorate established WYFEI 2030, an initiative of the African Women’s Decade on Financial and Economic Inclusion (2020-2030). The public-private-women and youth partnership aims to contribute incrementally and cumulatively to the financial and economic inclusion, empowerment, poverty reduction, and welfare of women and youth in Africa.

Launched in July 2022, in Ghana, by H.E Nana Addo Dankwa Akufo-Addo, President of the Republic of Ghana and AU Champion on Gender and Development issues, and H.E Dr. Monique Nsazabaganwa, African Union Commission’s Deputy Chairperson, the WYFEI 2030 initiative seeks to unlock USD100 Billion for at least 10 million women and youth by 2030, leveraging and building on existing initiatives and financial instruments both in the public and private sector.

Two years following the launch of the initiative, the WYFEI 2030 Technical Meeting and High-Level Advocacy meeting convened on July 16^th – July 17^th, 2024, and July 20^th, 2024, respectively are an opportunity evaluate progress made in the implementation process and offer insights on lessons learned in promoting women and youth economic empowerment. The events also serve as a platform to consult relevant stakeholders on effective strategies to accelerate implementation and enhance progress while galvanizing increased support for the initiative’s implementation.

Bringing together WYFEI stakeholders, Member States, RECs, AU Organs and institutions and implementation partners committed to advancing women and youth financial and economic inclusion on the continent, the WYFEI 2030 advocacy meetings will seek to achieve, among others, the following specific objectives:

• Advocate for accelerated implementation and foster collective action and commitments toward achieving the implementation of the initiative.
• Mapping the financial inclusion landscape.
• Provide a platform to foster coordinated efforts and policy reforms that significantly enhance women’s financial inclusion across Africa.
• Provide a platform to discuss the development of key reporting and accountability frameworks on women and youth financial and economic inclusion.

For further information please contact: 

Ms. Sandzisile Nozibuso Madonsela | Programme Analyst, Women, Gender and Youth Directorate | African Union Commission | E-mail: madonselas@africa-union.org

Arlette Akingeneye | Programme Associate, Women, Gender and Youth Directorate | African Union Commission | E-mail: AkingeneyeA@africa-union.org

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