Ethiopian government is committed to advancing women's rights, equality, and empowerment, said the country's State Minister for Finance, Semereta Sewasew.
The state minister said this while addressing the International Women's Day event held in Addis Ababa.
"With women representing nearly half of Ethiopia's population and playing a vital role in the nation’s communities and economic future, the government is actively working to increase women's participation across various sectors," she highlighted.
Semerta stated that Ethiopia is currently rolling out the second phase of its financial inclusion strategy, aimed at alleviating poverty, promoting economic growth, enhancing financial stability, and ensuring gender equality.
"Significant progress has been made in digital finance, evidenced by initiatives like Digital Ethiopia 2025, which saw digital accounts exceed 102.8 million by mid-2023. However, challenges persist regarding women's access to financial accounts, including limited literacy, insufficient infrastructure, and products that do not adequately address women's unique needs," she mentioned.
The State Minister emphasized the critical role of financial inclusion in empowering women to launch businesses, create job opportunities, and support their families, thus contributing to the nation's overall development. Capital markets are essential in providing funding opportunities for women entrepreneurs, enabling business growth and innovation.
She also noted that the government is committed to gender-responsive budgeting and promoting digital financing, in line with the goals of Digital Ethiopia 2025 to create a more inclusive economy. To this end, the Ministry of Finance has developed an internal gender equality strategy, created toolkits for gender-responsive budgeting, and implemented budget tagging and tracking initiatives.
To further support women digital financial services are important, she said, stressing the need for collaboration to overcome the barriers women face.
Emerging capital markets also have the potential to support women, she added. "Innovative funding mechanisms, such as crowdfunding and gender bonds, can provide critical support to women entrepreneurs who often struggle to access loans. These approaches aim to create new opportunities and pathways for women in the entrepreneurial landscape, ensuring they have the resources they need to thrive," the state minister explained.