FinEquity Interview

2024 Pathway-to-17 Summit Reflection

Tariro Nyimo, FinEquity Africa Facilitator.

We recently sat down with FinEquity Africa Facilitator Tariro Nyimo to capture her insights and reflections on the 2024 Pathway-to-17 Summit. With a focus on gender equality, the event included impactful discussions, innovative solutions, and a collaborative energy that made the event a powerful platform for advancing women’s economic empowerment through financial inclusion in Africa. Here’s what stood out to Tariro from the summit. 

FinEquity: Can you tell us about the Pathway to 17 Summit? What is this summit all about?

Tariro Nyimo: The Pathway to 17 Summit is an annual global virtual event that brings together thought leaders, innovators, and practitioners to address the world’s greatest challenges through knowledge sharing, collaboration, and dialogue. Convened by Digital Frontiers, the summit aims to inspire sustainable and inclusive solutions for a better future. The 2024 summit focused on four key themes: gender equality, innovative and inclusive fintech, job-creating innovations in SDGs, and Africa’s digital public infrastructure. 

FinEquity: FinEquity Africa was a knowledge partner for the gender equality theme covered on day one of the summit. What stood out the most for you about this session? How do you think it set the tone for the rest of the event?

Tariro Nyimo: Day one of the summit was filled with learnings, data-driven insights, and inspiring leadership examples that set the tone for the rest of the summit. It focused on key priorities like women's leadership, gender-disaggregated data, and gender-intentional product design. 

The opening plenary featured Shiphra Chisha (Graca Machel Trust) and Dr. Khetsiwe Dlamini (Triple C Advisory), who emphasized women’s leadership and data-driven opportunities in Africa. They highlighted how Sub-Saharan Africa leads in women-owned businesses, with 26% of women engaged in entrepreneurial activity, while Rwanda leads in women’s parliamentary representation with 61.3% women compared to the global average of 27%. Shiphra also spotlighted the Expert Leadership Group (ELG), convened under H.E. Graça Machel, which includes Deputy Governors, regulators, and senior women leaders driving financial inclusion for women across Africa.

A highlight was the session on gender-disaggregated data which included insights from Yasmin Bin Humam (CGAP) on supply-side gender data gaps, and Toni Weis (World Bank Africa Gender Innovation Lab) on data-driven credit scoring pilots aimed at improving women’s access to capital. Another highlight was the session with influential women leaders moderated by Aude de Montesquiou (FinEquity); Farai Mpofu (Securities Exchange Commission Zimbabwe) and Esselina Macome (FSD Mozambique) who shared defining leadership moments and discussed how their organizations champion inclusivity in financial markets.

Other noteworthy presentations included David Kwasi Owusu Darkwa (Mercy Corps) on reducing financing gaps for refugee entrepreneurs through the Refine Program and Ifeoma Uddoh (Shecluded) on fintech solutions improving MSME access to capital in Nigeria

The day concluded with the much-anticipated Gender Equality Changemaker Awards, where Antonique Koning (CGAP) delivered the keynote address and joined a panel discussion on social norms, exploring how gender norms shape market systems and identifying actionable pathways for addressing barriers to women’s financial inclusion.

FinEquity: The Gender Equality theme concluded with the Gender Equality Changemaker Awards, recognizing individuals who are leading the charge in advancing gender equity in Africa. Can you please share a little bit about the Awards? Who won? What were some of the most impactful takeaways from the Changemakers Awards?

Tariro Nyimo: The Gender Equality Changemaker (GEC) Awards is an annual event recognizing individuals who are leading efforts to advance gender equity in Africa, particularly in financial institutions. The event brings together Digital Frontiers Institute GEC program participants, alumni, and people interested in gender and initiating change in Financial Institutions.

The 2024 winner, Edwige Takassi, CEO of Women in Financial Inclusion Africa Consulting, was honored for her transformative work in advancing women’s leadership within financial services. Her initiatives include conducting a gender-focused institutional assessment, developing a gender policy, and launching a Women’s Leadership Program, impacting multiple countries across Africa. This award highlights the power of inclusive finance and entrepreneurship in supporting women’s economic empowerment.

Below are videos of the nominees sharing their stories! 

Edwige Takassi
Abimbola Agbejule
Sefakor Carlotta Boadu

FinEquity: What were some of the most impactful takeaways from the sessions or presentations related to advancing gender equality in financial inclusion?

Tariro Nyimo: Some of the most impactful takeaways from the sessions and presentations on advancing gender equality in financial inclusion centered on the critical role of gender data and addressing barriers to access capital. The gender gap persists due to factors like collateral requirements and credit bureau entries, but innovative solutions using alternative data sources—such as psychometric data, cash flow data, and repayment histories—can help financial institutions assess risk more effectively. Toni Weis (World Bank Africa Gender Innovation Lab) shared insights on data-driven credit scoring pilots aimed at improving women’s access to capital. Partnerships with the Africa Gender Innovation Lab have piloted these approaches in countries like Nigeria, Lesotho, Rwanda, and Ethiopia, demonstrating that different methods work for different lenders while balancing data availability and predictive power.

Another key takeaway was the session and panel discussion on gender norms and their impact on women’s access to the productive economy. This presentation underscored the importance of tackling these barriers systematically, setting a strong foundation for advancing gender inclusion in financial systems. These insights showcase the need for data-driven innovation and culturally sensitive approaches to create a more inclusive financial sector.

FinEquity: Were there any particular data points, case studies, or success stories shared during the sessions that resonated with you or the audience? 

Tariro Nyimo: Yes, several impactful data points and case studies resonated with the audience, particularly the discussions on gender representation on boards and its broader impact on leadership and institutional transformation. Examples included trends from the Central Bank of Ethiopia and the Bank of Tanzania, where directives were set to ensure female representation. In Tanzania, at least one-third of board members of financial service providers (FSPs) are women, while Ethiopia requires at least two women on such boards. These policies have demonstrated a transformative effect on the financial sectors in both countries, fostering greater inclusion and diversity.

FinEquity: One of the Summit's goals is to share scalable and inclusive solutions. Can you highlight any innovative approaches discussed that you believe can be replicated elsewhere?

Tariro Nyimo: One standout innovative approach discussed was the Capital Markets Awareness Quiz in Zimbabwe, highlighted by Farai Mpofu from the Securities Exchange of Zimbabwe. Designed as a grassroots solution, the quiz introduces high school students to financial markets through education, fostering early financial literacy. Notably, young women emerged as primary participants, even though the initiative was not originally tailored with a gender focus. This demonstrates its potential as a replicable model to engage youth, particularly young women, in financial markets across other regions.

FinEquity: The discussions touched on various challenges in achieving gender equality. What were some of the recurring barriers mentioned, and how did speakers propose addressing them?

Tariro Nyimo: The financing gap was a recurring theme, with a staggering $1.7 trillion unmet demand for credit among female-owned formal SMEs and microbusinesses in developing markets. Speakers highlighted the need for providers and investors to design solutions catering to diverse financing needs, such as trade credit, invoice discounting, and digitally enabled financing like merchant cash advances or digital credit. Paired value-adds, such as technical assistance and financial literacy programs, were also emphasized. On the policy front, adopting gender-responsive budgeting (GRB) and leveraging frameworks like the African Continental Free Trade Agreement (AfCFTA) were proposed to improve funding allocation for female-owned businesses.

FinEquity: As FinEquity Africa served as the knowledge partner, were there any collaborations or partnerships discussed that you think will have a lasting impact on advancing gender equality across the African continent?

Tariro Nyimo: I think that a partnership between FinEquity Africa and the Africa Gender Innovation Lab could have a lasting impact. Such a collaboration could give more exposure to FSPs in the practice community, representing 19% of the network. These institutions could greatly benefit from the pilot work already conducted by the Africa Gender Innovation Lab. Sharing this knowledge would empower financial service providers to implement innovative, gender-responsive solutions, potentially accelerating progress toward more inclusive financial ecosystems.

Personally, I felt that the Summit was a valuable learning experience. It provided a platform for knowledge sharing, sparked new ideas, and highlighted the importance of partnerships in advancing gender equality. The connections made with like-minded people were also inspiring, reinforcing the power of collaboration. This experience has shaped my perspective and motivated me to integrate more innovative, gender-responsive solutions into my work moving forward
 

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