BORROWING: Priortise Potential Female Borrowers, FG Urge DMBs

Munachimso
Munachimso

By Munachimso Obienyi

The Federal Government has called on Deposit Money Banks (DMBs) to set up gender desks to identify and prioritise potential female borrowers.

While describing women as drivers of the African economy, the government said that more women needed to be encouraged to go into technically oriented fields of science, technology, engineering and mathematics.

The Minister of State for Industry, Trade and Investment, Amb. Maryam Katagum, represented by the Director of Commodity and Export Department, Suleiman Audu, said this at the second series of African Women Trade Conference 2022, themed – ‘Positioning African women for the next big opportunity in the regional and global marketplace’.

The Conference is organised by Organization of Women in International Trade (OWIT), in collaboration with other OWIT African countries.

According to her, as part of efforts to position women to enable them benefit from the African Continental Free Trade Area, some core things should be considered.

She noted that they are preparation for gender inclusion in national AfCFTA strategies and policies.

“Companies have to invest in women directly by integrating gender policies and practices with global diversity: Women’s personal safety when determining working conditions and hours. Banks should set up gender desks with a view to go the extra mile in identifying and prioritising targets of potential women borrowers as a platform for ascertaining and providing financial empowerment from African Development Bank to support women-led farmers based associations and MSMEs to promote agriculture in certain African countries.”

“Greater efforts need to be made to provide women with access to technical education and on-the-job training. Targeted entrepreneurship training can help women entrepreneurs grasp the opportunities that open markets create and calibrate their businesses toward those opportunities through creativity and innovation.” Katagum said.

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