Since its launch in 2022, the Women and Youth Financial and Economic Inclusion (WYFEI 2030) Initiative—an anchor of the African Women’s Decade on Financial and Economic Inclusion (2020–2030)—has facilitated multi-stakeholder platforms dedicated to advancing targeted financial inclusion strategies for African women and youth.
In a significant move to close financing gaps, the African Union Commission’s Women, Gender and Youth Directorate recently convened a high-level gathering in collaboration with the Sterling One Foundation. The event, supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) through the GIZ African Union Portfolio, aimed to rally private sector capital and expertise for systemic change.
Organized ahead of the upcoming Africa Social Impact Summit (ASIS 2025), the meeting spotlighted the critical role of private sector actors in unlocking $100 billion to benefit at least 10 million women and youth across Africa by 2030 under the WYFEI 2030 framework.
Discussions centered on the design of gender- and youth-responsive financial products, development of market infrastructure and data systems to support bankability, and the provision of technical and business support to scale youth- and women-led enterprises.
Setting the tone, Ms. Prudence Nonkululeko Ngwenya, Director of the Women, Gender and Youth Directorate at the African Union Commission, called for systemic transformation.
“A fundamental shift is needed to place women and youth at the heart of resource allocation, policymaking, and accountability,” she said.
“The private sector is not a guest at this table—it is a co-owner. WYFEI 2030 is structured for co-investment, innovation, and scale, shifting from isolated impact to ecosystem-wide change.”
Echoing this call, Ms. Olapeju Ibekwe, CEO of Sterling One Foundation, stressed that financial inclusion must translate into action.
“Inclusion cannot be rhetoric. Women and youth are not peripheral—they are central to Africa’s economy. Any agenda that overlooks them is fundamentally flawed,” she asserted.
“Each day capital bypasses them is a day opportunity is denied to the continent. Partnerships must evolve beyond shared intent to shared execution grounded in Africa’s investment reality.”
Dr. Tobias Thiel, Director of the GIZ African Union Portfolio, further emphasized the urgency of addressing systemic exclusion.
“Breaking barriers to financial inclusion for women and youth is both a moral duty and an economic necessity,” he noted.
“Let us move forward with boldness and resolve to create an Africa where opportunity is equitable and potential boundless.” He reaffirmed GIZ’s full support for the AU’s WYFEI 2030 Initiative.
A dynamic panel discussion during the convening brought together public and private sector leaders to explore how to mobilize private capital for inclusive development. The dialogue tackled structural obstacles to scaling early-stage investments in underserved markets—spanning deal origination, risk mitigation, and data transparency.
A highlight of the event was the unveiling of the EmpowerHer Africa initiative by Dr. Nadi Albino, Deputy Director of Partnerships at UNICEF. This ambitious program, aligned with WYFEI 2030, aims to open pathways for 50 million adolescent girls and young women to access finance, technology, and entrepreneurship tools, paving the way for the next generation of African female leaders and innovators.
The convening marks the beginning of a series of continent-wide engagements led by the AU Commission’s Women, Gender, and Youth Directorate, with Sterling One Foundation at the forefront of public–private partnership development. These engagements will focus on forming strategic alliances, unlocking innovative financing mechanisms, and aligning private-sector contributions with the AU’s broader development goals.
Through ongoing collaboration, these efforts aim to deliver scalable, impactful solutions that accelerate Africa’s inclusive economic transformation.
