Taking Concrete Steps to Increase Women’s Formal Financial Inclusion

The national visions of several low income countries, including East African Community members, highlight attaining middle income country status.  To support developing countries in this aspiration, a number of relevant stakeholders are promoting deeper financial inclusion as a contributor to economic growth and stability.  Such initiatives however, must incorporate strong representation from economically active individuals lest developing countries continue their historical under-utilization of productive human resources.  To illustrate, the France-based Africa Partnership Forum found that limited opportunities for women reduce Africa’s annual per capita growth by 0.8 percent.  Had this growth occurred, Africa’s economies would have doubled over the past 30 years.