Stakeholders seek digital skills devt for women entrepreneurs

PRIORITISING digital skills training and capacity building to equip women with the knowledge needed to navigate the digital landscape has been highlighted as a way to empower more women entrepreneurs.

At the just concluded oneday conference organised by New Faces New Voices, NFNVNigeria, held in Lagos with the theme, ‘ Digital Financial Inclusion and Women Cross Border Trade in West Africa: Prospects and strategies” stakeholders disclosed that, for significant economic prosperity and empowerment of women across Africa, it is pertinent to address issues relating to digital financial inclusion.

The conference, which served as a platform for dialogue, collaboration and action through targeted interventions and strategic partnerships, aimed to equip women entrepreneurs with the tools, resources and knowledge they need to thrive in the digital age. Cross- border trade has long been a cornerstone of economic growth in West Africa, with women entrepreneurs at its forefront, fueling economic activity and enriching the social fabric of communities.

The organisers however noted that despite their invaluable contributions, women entrepreneurs engaged in cross- border trade face formidable challenges; from inadequate infrastructure to cumbersome customs processes and harassment. Speaking, CEO, CFG Advisory, Tilewa Adebajo, revealed that the Economic Community of West African States ( ECOWAS) GDP is $ 810 billion, the population is 448 million while total trade volume stands at $ 277.22 billion. He added that Africa’s GDP is between $ 2.6 and $ 3 trillion, its population is 1.216 billion while its total trade volume is around $ 1 trillion. Adding that women account for roughly 50 per cent of the population in West Africa, he said they control 70 per cent of the informal sector trade which accounts for half the GDP.

Revealing that women are also increasingly being active participants in the formal sector, he said, “It is safe to say women contribute at least $ 350 billion to ECOWAS’ GDP and account for at least $ 100 billion of the region’s trade. Cross- border trade plays a crucial role in the economic growth and development in West Africa and women constitute a significant portion of crossborder traders, engaging in small- scale importation, exportation and informal trade. Their participation in cross- border trade is essential for household income generation, poverty alleviation and economic resilience in the face of external shocks. Women contribute significantly to regional integration, job creation, economic growth and development.”

Speaking on the value of digital financial inclusion, Tilewa said it has emerged as a promising solution to empower women traders and enhance their participation in cross- border commerce, by helping them build savings, access credit and obtain insurance against unforeseen events.