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Adopting a Whole of Government Approach: Mobilizing Women’s Digital Financial Inclusion in Cross-Sector Recovery Efforts Across Africa

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Fecha/Hora
Date(s) - 28/09/2021
4:30 pm - 5:30 pm

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ICSD 2021

 

The COVID-19 pandemic has disproportionately impacted women, threatening to derail decades of progress towards gender equality and economic gains. According to a recent McKinsey study, globally, female job loss rates from COVID-19 are nearly twice as high as male job loss rates, and the effects of the pandemic have been the most severe for women in emerging economies.

Yet, even before COVID-19, in many parts of the world, women had less access to financial services than men and were at greater risk to economic shocks. Countries with policies and investments supportive of digital financial services (DFS), for example the presence of interoperable payment systems, were able to quickly rollout emergency cash transfer programs. Beyond payments, investments in women’s digital financial inclusion (WDFI) have ripple effects across sectors – from health and climate to sustainable development more broadly. For example, countries with active digital ID systems have been able to more effectively roll-out vaccines and testing services. Overall, digital financial inclusion continues to be indispensable for both short-term relief measures and a core element of economic recovery plans supporting women and women-led businesses.

On the sidelines of this year’s 76th session of the UN General Assembly (UNGA), the G7 Partnership for Women’s Digital Financial Inclusion in Africa and the UN Sustainable Development Solutions Network (SDSN) will co-host an event in which key African leaders, the Partnership’s core champions, and emerging advocates leading implementation efforts on the ground will discuss the importance of collaborating across institutional boundaries to mobilize greater digital financial inclusion.

 

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