The empowerment of women has three core dimensions to it — economic, political and social empowerment.
Economic empowerment of women is arguably central to achieving the latter two. It, therefore, stands to reason that increasing women’s access to economic opportunities by providing them with affordable credit will over time limit and eventually eliminate gender inequalities. Critical to achieving this is supporting women-owned enterprises financially.
One of the most quoted hindrances to the growth of women-owned enterprises is the high cost of credit — the unavailability of attractive medium and long-term financing options. Poor access to markets is another of the challenges stagnating growth.
If these two issues are tackled, the problem of women’s economic empowerment will have been solved midway.
