Global Hub launched to eradicate women’s digital financial exclusion and accelerate women’s business ownership
A new Global Hub has been established by Womens World Banking and Capital Development Fund to address women’s digital financial exclusion and boost women’s entrepreneurship worldwide, particularly in developing nations. The initiative involves local coalitions in Indonesia and Ethiopia, along with a global component, to advocate for women’s financial inclusion issues. The goal is to bridge the gender gap in digital technology access and financial products for female entrepreneurs. With 750 million women currently excluded from the formal financial system, this collaboration aims to unlock their potential by providing equal opportunities through technology and financial services.
The Women’s World Banking and the UN Capital Development Fund (UNCDF) launched the Women’s Digital Financial Inclusion (WDFI) Advocacy Hub which is a new global coalition to catalyse collective action to promote women’s digital financial inclusion. The WDFI aims to close the gender gap in access to digital technology, skills, and digital financial products for women entrepreneurs, particularly in developing countries. In this vein, the WDFI Advocacy Hub has two interconnected components: 1) local coalitions in Indonesia and Ethiopia composed of civil society, public and private sector to advocate for priority women’s digital financial inclusion issues in their markets, and 2) the Global Advocacy Hub which will drive coordinated, global advocacy. ‘Three quarters of a billion women around the world are excluded from the formal financial system. Imagine the possibilities if those women had equal access to technology, skills, and financial services. The WDFI Advocacy Hub is a groundbreaking global collaboration that will make those possibilities a reality and close the financial inclusion gap,’ said Women’s World Banking President and CEO Mary Ellen Iskenderian.
