Embracing and Strengthening Equity to Stimulate Economic Growth
African Venture Philanthropy Alliance (AVPA)
Pan African non-profit network organization for social investors - Unlocking new capital for social impact.
March marks Women’s history month across the globe;?a time when women’s hard-won economic, social, cultural and political achievements are celebrated. The theme for this year was #EmbraceEquity. This campaign sought to stimulate conversation on why we should champion equity rather than equality. Equity factors in that we are not all starting on equal footing and therefore allocates needed resources or opportunities to level the playing field?and create an enabling environment for all to thrive. Equality is no longer enough to bridge the gap.
Equity is mission-critical for societal advancement, and it is underpinned by intentionality and inclusion. Women still bear the brunt of economic exclusion fueled by a lack of access to capital, markets as well as support networks to grow their businesses in Africa. According to the IMF, “gender equality goes hand-in-hand with macroeconomic and financial stability, can stimulate economic growth, boost private and public sector performance, and reduce income inequality”. While many African governments have made progress in gender inclusion in business, law, policies and other areas, “the continent as a whole is falling behind. African policymakers, businesses, and community leaders need to step up their game in at least five priority areas” as ascertained by the World Economic Forum. Closing the gender gap is estimated to increase economic output by an average of 35% globally. Women’s economic participation and inclusion can have a strong positive impact on regional GDPs with an estimated 10% gain in Africa’s GDP by 2025.?
We have a long way to go and a lot to do towards achieving gender parity across the SDG areas including poverty, health, climate, and social inclusion. There is enough research backing up how critical this goal is to economic growth and resilience. AVPA is prudent about building our timber through building capability and capacity to increase the flow of capital towards solving the many intractable challenges in Africa including SDG 5, Gender Equality. Through our capacity-building programs, we have had over 61% female participation. This includes Fund Managers, Impact Investors, Foundations, Family Offices and even government. AVPA is embracing and strengthening equity through its programs by ensuring that there is representation, intentional inclusion, and training of women in Impact Investing.
As we close Women’s Month, I echo this popular quote:
领英推荐
“Here’s to strong women. May we know them. May we be them. May we raise them.”
AVPA Regional Director - Southern Africa