Globally, the gender financing gap stands at an estimated $1.7 trillion, a shortfall that not only undermines women’s potential but also hampers broader economic growth.

Now, South Africa’s (SA) Absa Bank, in partnership with the African Development Bank Group (AfDB), is stepping up efforts to change that.

Speaking at the AfDB’s annual meetings, which this year centre on the theme “Making Africa’s Capital Work Better for Africa’s Development”, Absa’s Managing Executive for Public Sector & Growth Capital Solutions, Stephen Seaka, said the collaboration is aimed at closing the gender finance gap through both strategic investment and structural reform.

Absa has pledged to mobilise $10 billion by 2035 to support women-led businesses through its Regional Operations. The initiative, developed in partnership with the AfDB, is seen as a key part of the bank’s wider strategy to promote inclusive growth and long-term development across Africa.

Seaka noted that financing alone is not enough. Unlocking the full potential of Africa’s economies requires a holistic approach, one that combines capital with investments in human development and social systems.

There’s mounting evidence to support that view. Reports from institutions like the European Investment Bank show that closing the gender financing gap leads to stronger, more resilient economies, better governance, and more stable communities.

The challenge now is to turn promising pledges into real-world progress and ensure that women across Africa not only have a seat at the table, but the tools they need to lead.

--ChannelAfrica--