A leading trade, investment, and development law expert and Director of the Regional Integration Coordination Office at the African Development Bank Group, has called for urgent action to ensure women have equal opportunities in all spheres of life.
Dr. Joy Kategekwa speaking at a forum on International Women’s Day on Saturday, said that financial institutions must integrate gender-conscious strategies into their business models to drive real change.
“This year, we are called on to accelerate action, to accelerate action so that women can have equal opportunities across all spheres of life,” she said.
“Financial institutions must have a consciousness in the way in which their business is done, ensuring that it speaks specifically to the priorities of women. This is a foundational question; this is a design question.”
Dr. Kategekwa highlighted the African Development Bank’s efforts in leading this transformation, particularly through the gender marker system.
“At the African Development Bank, we are leading the way, ensuring that all of our investments and projects are sensitive to gender concerns,” she explained.
“Over time, we will start to see an impact—an increase in the gender dividend through these investments.”
Beyond embedding gender sensitivity into financial systems, she stressed the need for targeted initiatives to unlock opportunities for women and address specific challenges they face.
She pointed to the Affirmative Financing Action for Women in Africa (AFAWA) as a game-changer. “AFAWA is a groundbreaking program of the African Development Bank Group that is starting to change the game on the enduring challenge of women accessing finance,” she said.
Explaining the program’s model, she noted, “It makes financing available to commercial banks so they can lend to women entrepreneurs, women engaged in multiple ventures.
“They are making financing affordable and accessible to women. And that is already changing the game, enabling women not only to start but to stay in business and scale their enterprises.”
From a regional integration perspective, Dr. Kategekwa expressed excitement over the impact of such programs, particularly in preparing women to take advantage of the African Continental Free Trade Area (AfCFTA).
“What this means is that capacities can be built for women to engage in the huge opportunities that AfCFTA is creating,” she said.
She also highlighted the role of youth-focused initiatives such as the Youth Entrepreneurship Investment Banks, an initiative by AfDB President Akinwumi Adesina.
“This has been really, really powerful in putting wind behind the ideas of young people. When young people have ideas, they can transform them into businesses, products, and services,” she said.
According to Dr. Kategekwa, such initiatives are not just about entrepreneurship but about wealth creation and economic transformation.
“These ideas can be transformed into the industries of the future,” she noted.
“We see these programs—and many more at the bank—having a huge transformative impact on the landscape of women and women enterprise in Africa.”
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