Connect with us
Anglostratits

Business

‘Thrilla in Manila’: Women’s financial inclusion is our fight of the decade if we are to meet the Sustainable Development Goals

Published

2 years ago

on

Thrilla

Unlocking women’s economic power and closing the gender gap will not only help us achieve Sustainable Development Goal 5—which is focused on gender equality—it will also help accelerate progress towards many of the 16 other goals

ABIDJAN, Ivory Coast, October 16, 2023/APO Group/ — 

By Malado Kaba, Director of the Gender, Women and Civil Society Department at the African Development Bank (www.AfDB.org).

Last month, I represented the African Development Bank’s Gender, Women and Civil Society Department at the Alliance for Financial Inclusion’s (AFI) 2023 Global Policy Forum in Manila.

Before travelling to the Forum, I had an iconic moment in sporting history on my mind – the “Thrilla in Manila:” This epic boxing match between Muhammad Ali and Joe Frazier in 1975 was hotly anticipated after the pair’s “Fight of the Century” in 1971.

I had it on my mind because I strongly believe that advancing women’s financial inclusion is our fight of the decade if we are going to achieve the African Development Bank’s High 5 priority to improve the quality of life for people across Africa, and the Sustainable Development Goals by the 2030 deadline.

Unlocking women’s economic power and closing the gender gap will not only help us achieve Sustainable Development Goal 5—which is focused on gender equality—it will also help accelerate progress towards many of the 16 other goals. This includes ending poverty, reducing inequalities, and providing decent work and economic growth. Studies have suggested that when we increase women’s access to credit, our financial systems become more stable due to women taking fewer risks and outperforming men on loan repayment rates.[1]

That is why we can’t work in isolation, and this is why the Bank’s participation in the Forum was so significant. The Alliance for Financial Inclusion is a global policy leadership alliance owned and led by central banks and financial regulatory institutions with the common purpose of advancing financial inclusion around the world. Gathering with this international network of policymakers was an invaluable opportunity to share the Bank’s work on financial inclusion and hear first-hand what others are doing in this space.

Great ideas transcend borders, and by working together to identify powerful solutions, we can create a ripple effect across the continent

It was hugely beneficial to engage with central bank governors and other finance-sector stakeholders across Africa to find solutions to issues facing the millions of ‘unbanked’ women across the continent—from expanding digital financial solutions to improving data collection and analysis.

I was also encouraged to hear from central bank officials about the constructive steps they are taking to be gender-responsive and to advance diversity and inclusion from the very top of their organizations. Several governors mentioned that they are implementing their own financial inclusion strategies and using data to inform decisions about how to address obstacles faced by women-led businesses.

In addition to listening and learning from these leaders about the solutions they are implementing in their countries, I was also delighted to formally launch a new phase of the Bank’s partnership with AFI (https://apo-opa.info/46U1qSH). Through our work together over the next four years, we aim to create a new model for gender-sensitive policy and regulatory reforms, which can be applied by governments across the continent to unlock the power and potential of women entrepreneurs. We believe our work with AFI will also be an impactful contribution for the stability of banking systems.

In doing so, we will closely collaborate with many of the central bank leaders I had the opportunity to meet in Manila. Several of the leaders I met with shared that AFAWA had inspired their financial institutions to double down on their own efforts to close the financing gap for women in their countries. Great ideas transcend borders, and by working together to identify powerful solutions, we can create a ripple effect across the continent.

Our new agreement with AFI acts as a foundation for bolstering these relationships and identifying new ways of working together. Just like Muhammed Ali, more than 45 years ago, let’s not hold back our punches to fight for women’s empowerment.

[1] Source: Caroline Perrin, Laurent Weill (https://apo-opa.info/3M4eHjz) (June 2022)

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Related Topics:
Continue Reading
Advertisement

Events

As global power structures shift, Invest Africa convenes The Africa Debate 2026 to redefine partnership in a changing world

Published

2 days ago

on

February 6, 2026

By

Debate

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation

LONDON, United Kingdom, February 5, 2026/APO Group/ –As African economies assert greater agency in a rapidly evolving global order, Invest Africa (www.InvestAfrica.com) is delighted to announce The Africa Debate 2026, its flagship investment forum, taking place at the historic Guildhall in London on 3 June 2026.

Now in its 12th year, The Africa Debate has established itself as London’s premier platform for African investment dialogue since launching in 2014, convening over 800 global decision-makers annually to shape the future of trade, finance, investment, and development across the continent.

Under the theme “Redefining Partnership: Navigating a World in Transition”, this year’s forum will focus on Africa’s response to global economic realignment with greater agency, ambition and economic sovereignty.

The Africa Debate puts Africa’s priorities at the centre of the conversation, moving beyond traditional narratives to focus on ownership, resilience and long-term value creation.

“Volatility is not new to Africa. What is changing is the opportunity to respond with greater agency and ambition,” says Invest Africa CEO Chantelé Carrington.

“This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy — so African economies can take greater ownership of their growth. Success will be defined by how effectively we turn disruption into leverage and partnership into shared value.”

The Africa Debate 2026 will provide a platform for this essential, era-defining discussion, convening leaders to explore how Africa and its partners can build more balanced, resilient and sustainable models of cooperation.

Key challenges driving the debate

Core focus areas for this year’s edition of The Africa Debate include:

This year’s edition of The Africa Debate asks how we strengthen economic sovereignty — from access to capital and investment to financial and industrial policy

Global Realignment & New Partnerships

How shifting geopolitical and economic power structures are reshaping Africa’s global partnerships, trade dynamics and investment landscape.

Financing Africa’s Future

The growing need to reform the global financial architecture, new approaches to development finance, as well as the strengthening of market access and financial resilience of African economies in a changing global system.

Strategic Value Chains

Moving beyond primary exports to build local value chains in critical minerals for the green economy. Also addressing Africa’s energy access gap and mobilising investment in renewable and transitional energy systems.

Digital Transformation & Technology

Unlocking growth in fintech, AI and digital infrastructure to drive productivity, inclusion, and the next phase of Africa’s economic transformation.

The Africa Debate 2026 offers a unique platform for high-level dialogue, deal-making, and strategic engagement. Attendees will gain actionable insights from leading policymakers, investors and business leaders shaping Africa’s economic future, while building strategic partnerships that define the continent’s next growth phase.

Registration is now open (http://apo-opa.co/46b19gj).

Distributed by APO Group on behalf of Invest Africa.

Continue Reading

Business

Zion Adeoye terminated as Chief Executive Officer (CEO) of CLG due to serious personal and professional conduct violations

Published

2 days ago

on

February 6, 2026

By

CLG

After a thorough internal and external investigation, along with a disciplinary hearing chaired by Sbongiseni Dube, CLG (https://CLGglobal.com) has made the decision to terminate Zion Adeoye due to serious personal and professional conduct violations. This process adhered to the Code of Good Practice of the Labour Relations Act, ensuring fairness, transparency, and compliance with South African law.

Mr. Adeoye has been held accountable for several serious offenses, including:

  • Making malicious and defamatory statements against colleagues
  • Extortion
  • Intimidation
  • Fraud
  • Misuse of company funds
  • Theft and misappropriation of funds
  • Breach of fiduciary duty
  • Mismanagement

His actions are in direct contradiction to our firm’s core values. We do not approve of attorneys spending time in a Gentleman’s Club. CLG deeply regrets the impact this situation has had on our colleagues and continues to provide full support to those affected.

We want to express our gratitude to those who spoke up and to reassure everyone at the firm of our unwavering commitment to maintaining a respectful workplace. Misconduct of any kind is unacceptable and will be addressed decisively.

We recognize the seriousness of this matter and have referred it to the appropriate law enforcement, regulatory, and legal authorities in Nigeria, Mauritius, and South Africa. We kindly ask that the privacy of the third party involved be respected.

Distributed by APO Group on behalf of CLG.

 

Continue Reading

Business

The International Islamic Trade Finance Corporation (ITFC) Strengthens Partnership with the Republic of Djibouti through US$35 Million Financing Facility

Published

2 days ago

on

February 6, 2026

By

ITFC

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties

JEDDAH, Saudi Arabia, February 5, 2026/APO Group/ –The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$35 million sovereign financing facility with the Republic of Djibouti to support the development of the country’s bunkering services sector and strengthen its position as a strategic regional maritime and trade hub.

The facility was signed at the ITFC Headquarters in Jeddah by Eng. Adeeb Yousuf Al-Aama, Chief Executive Officer of ITFC, and H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti.

The financing facility is expected to contribute to Djibouti’s economic growth and revenue diversification by reinforcing the competitiveness and attractiveness of the Djibouti Port as a “one-stop port” offering comprehensive vessel-related services. With Red Sea Bunkering (RSB) as the Executing Agency, the facility will support the procurement of refined petroleum products, thus boosting RSB’s bunkering operations, enhancing revenue diversification, and consolidating Djibouti’s role as a key logistics and trading hub in the Horn of Africa and the wider region.

We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth

Commenting on the signing, Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, stated:

“This financing reflects ITFC’s continued commitment to supporting Djibouti’s strategic development priorities, particularly in strengthening energy security, port competitiveness, and trade facilitation. We are proud to deepen our partnership with the Republic of Djibouti and contribute to sustainable economic growth and regional integration.”

H.E. Ilyas Moussa Dawaleh, Minister of Economy and Finance in charge of Industry of the Republic of Djibouti, commented: “Today’s signing marks an important milestone in the development of Djibouti’s bunkering services and reflects our strong and valued partnership with ITFC, particularly in the oil and gas sector. This collaboration supports our ambition to position Djibouti as a regional hub for integrated maritime and logistics services. We look forward to deepening this partnership, creating new opportunities, and leveraging collaborative programs to advance key sectors and drive sustainable economic growth.”

This facility forms part of the US$600 million, three-year Framework Agreement signed in May 2023 between ITFC and the Republic of Djibouti, reflecting the strong and growing partnership between both parties.

Since its inception in 2008, ITFC and the Republic of Djibouti have maintained a strong partnership, with a total of US$1.8 billion approved primarily supporting the country’s energy sector and trade development objectives.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Continue Reading

Trending