ADDIS ABABA- Several initiatives has been implemented to transform Ethiopian financial industry through empowering women, National Bank of Ethiopia (NBE) said.
Speaking to The Ethiopian Herald, NBE’s Bank Supervision Director Firezer Ayalew stated that NBE has carried out knowledge based assessment in collaboration with development partners in order to identify and address the challenge with regard to financial inclusion.
Following the assessment, a women intervention framework has been developed and it is expected to be implemented at national and state level, he said, noting that the second national financial inclusion strategy, which has been implemented by NBE,is currently pursuing its midterm implementation stage.
“Besides ensuring that the financial system is inclusive as well as stable, the strategy aspires to bring about significant change in scaling up what has been gained in the first strategy as well as enhance its sustainability,” he underscored.
Firezer further stated that a target has been set in terms of enhancing the representation of women in the leadership position in financial institutions.
Without ensuring this, it would be difficult to unlock the potential of women, create jobs, and realize economic growth, he added.
In this regard, the role of the government and NBE is to make sure that women are adequately and fairly represented in those positions in the financial industry.
Understanding the need to address the underrepresentation of women in financial institutions, NBE has recently announced the launching of a new initiative entitled :Network of Ethiopia’s Women in Finance (NEWFin).
He indicated that the establishment of NEWFin is a direct response to challenges that women are continuously facing to participate and advance in the finance industry.
Moreover, he stated, the initiative includes networking forums, workshops, mentorship programs, and advocacy initiatives aimed at promoting gender diversity and inclusion within the financial sector.
Underlining the need to have adequate representation of women in leadership roles, he stressed that NBE encourages financial institution to include the issue of gender, adopt different systems as well as revisit their business model.
BY BETELHEM BEDLU
THE ETHIOPIAN HERALD SUNDAY EDITION 31 MARCH 2024
