UN Women, a United Nations organization for gender equality and the empowerment of women, has just signed a partnership agreement with the financial structure Fin’Elle in order to work jointly to promote the financial inclusion of women. women in Côte d’Ivoire.
This agreement aims to support financial inclusion and support women and young girls entrepreneurs as well as those in the agricultural world, according to a note sent to APA on Saturday.
Formalized on January 29, 2021 by the resident representative of UN-Women Côte d’Ivoire, Antonia Ngabala-Sodonon and the director general of Fin’Elle, Kady Traoré, this partnership should notably make it possible to support the adequacy of the service offer Fin’Elle’s financial support to the specific needs of women and girls entrepreneurs, including those in the agricultural sector.
It also aims to facilitate access to finance for women entrepreneurs and especially those in the agricultural sector, as well as funding opportunities, in order to improve the financial inclusion of women and girls entrepreneurs.
With this partnership, the entrepreneurial initiatives of women and girls can be supported through the support model of the Center des Femmes Entrepreneures to improve their bankability and increase their eligibility for bank financing opportunities.
Undeniable economic agents, Ivorian women, unfortunately suffer from strong societal pressures and encounter many structural problems in their entrepreneurial and agricultural activities.
Their access to credit is difficult. In addition, some have no training or are illiterate, which limits their knowledge of the culture of savings and profit.
All of these factors significantly reduce their financial inclusion. And, this agreement corrects the weaknesses observed in order to promote access to information on financial inclusion in order to increase their income.
In accordance with the principle of the global agenda 2030 which states “Leave no one behind”, UN Women wants to maximize the efforts of all partners, including the private sector, in order to reduce the vulnerability of women.
This approach, in which UN Women is part, stems from its mission which aims to contribute to sustainable development through the achievement of the SDGs, in particular SDG 5, a priority of the government of Côte d’Ivoire.
According to data from the Ivorian Ministry of Economy and Finance, the rate of financial inclusion in Côte d`Ivoire has increased from 34% in 2014 to 41% in 2017. This rate of financial inclusion is now increased with mobile money.
Women have a low rate of banking services while the majority of them work in commerce and agriculture, sectors that are growth-promoting.
Created in 2018, Fin’Elle “finance for her” is a subsidiary of the COFINA Group dedicated to financing women. For the group, this involves creating an inclusive finance model for women by providing them with appropriate support.
The subsidiary currently supports nearly 5,000 women and occupies the ninth position in the ranking of microfinance institutions in Côte d’Ivoire. It supports female entrepreneurship with a range of savings and loan products including a training program for capacity building.
AP / ls / APA