Women’s access to finance about dignity, security of a generation, says First Lady

First Lady Jeannette Kagame has said that a woman’s access to finance is about dignity, the security of a family and that of a generation. She was speaking on Wednesday at the launch of the ‘New Faces, New Voices’ initiative in Rwanda, a pan-African advocacy group dedicated to the expansion of the role and influence of women in the financial sector. “The empowerment of women must begin with the empowerment of girls, as a way of nipping in the bud, the vicious cycle of inequality and insecurity. We must not reproduce financially insecure women and girls across generations,” she told a gathering in the capital Kigali. Ms Kagame said she was pleased to learn that one of the cornerstones of the ‘New Faces New Voices’ initiative was to propose ways for women to be equipped with tools that can sharpen their financial acumen, including better access to financial information and resources, and thus help women make better choices with their incomes. The event is being attended by former South African First Lady Graça Machel, the Founder of New Faces, New Voices. The beauty of New Faces, New Voices is that it will serve women from all spheres of life, Mrs Kagame said. The initiative is present in 15 African countries. Mrs Kagame said the vision of New Faces, New Voices “resonates well with the broader Rwandan thinking. It is our aspiration as a country to encourage every citizen, to contribute in making a better life for him or herself”. A recent study by FinScope shows that financial inclusion in Rwanda improved significantly, from 48 per cent in 2008 to 72 per cent in 2012, the First Lady observed. “Giving access to all is an important stepping-stone, which now allows us to focus on quality and relevance, of financial services offered to our population. This is the challenge we are tackling together today.” She added: “Financial inclusion for women ought to be built upon such important pillars as: supportive macro-economic policies, capacity and creativity within the financial sector, literacy, and a deep understanding of the specific context and needs of women.” Graça Machel paid tribute to Rwanda’s recovery from 1994 Genocide against the Tutsi, describing the progress hitherto made as “profound achievement”. Citing Rwanda’s progress on women empowerment, Mrs Machel said such “relevant examples” can be replicated in other African countries. It is unacceptable that women die when giving birth, she said. “I will contribute to lay the foundation of seeing women represented at all sectors of economic decision making”, she said. “We want to be at the centre of the attention of the financial sector”. The former South African First Lady said before Africa could become the food basket of the world it must first be the food basket of millions of Africans. She urged women not to be satisfied by what they have achieved but rather “think and act big”. Take the advantages of a conducive environment Rwanda is giving you, she advised Rwandan women. “Every person with a sense of dignity will take much pride on who they are”.

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Women’s access to finance about dignity, security of a generation, says First Lady