The CEO of 2xGlobal, Jessica Espinosa, has revealed that bridging the gender finance gap could unlock a $6 trillion economic opportunity worldwide.
She mentioned this during her keynote speech at the third Gender Impact Investment Summit and the unveiling of the Gender Equity and Social Inclusion Roadmap 2025–203 in Lagos on Thursday.
The Impact Investors Foundation, which organized the summit with the theme "Investing in Equity: Advancing Gender-Led Solutions for Inclusive Development," seeks to mobilize $8 billion in inclusive capital over the next decade.
As per Espinosa, supporting women who are entrepreneurs, owners, and leaders consistently enhances financial outcomes.
And if we consider that gap and the large figures involved, it truly highlights the potential. It's a significant market opportunity that we are observing. Together, these numbers clearly show an important reality. Bridging the gender finance gap presents a $6 trillion economic opportunity that is ready to be realized.
From minimal GDP improvements to Nigeria's underdeveloped MSME sector, supporting women is the quickest path to inclusive and widespread growth. Investing in women offers a competitive edge, and here's the reasoning.
"Encouraging women as entrepreneurs, business owners, and leaders consistently enhances financial outcomes. Bridging the gender gap in the workforce has the potential to release trillions of dollars in global GDP. Empowering women as suppliers and workers in the supply chain improves risk resistance and corresponds with international environmental, social, and governance principles," she stated.
As per the International Labour Organisation, businesses led by women form a substantial part of Nigeria's commercial environment, with estimates indicating that between 32.9 per cent and 40 per cent of MSMEs are owned by women.
Similarly, the Emir of Kano, His Highness Khalifa Muhammad Sanusi II, CON, promoted inclusion within the financial sector by providing loans to businesses led by women and addressing physical obstacles.
He highlighted the significance of setting aside certain elective roles for women, expressing regret that only four women are present among the 109 members of the National Assembly.
We have a constitution that requires having a minister from each state. Why is diversity in Nigeria limited to states? Why can't the constitution mandate that 30 percent of the cabinet be women or 40 percent? Why is diversity only about geography? These are political issues. And we need to advocate for this.
"We have a Senate consisting of 109 members. How many of them are women? Four out of 109. How can we pass laws that benefit women? We need to advocate for these issues. Each state has three senatorial districts. Why not require at least one district to be contested exclusively by women? And this could be rotated. Every eight years, we could change it," he stated.
Additionally, Frank Aigbogun, the Chairman of the Impact Investors Foundation, pointed out that the introduction of the Gender Equity and Social Inclusion Roadmap, created in partnership with PwC Nigeria, would bring about a major transformation in our country's economic and social environment regarding inclusion.
The goals we have established highlight the critical nature of this issue and the extent of our aspirations. We plan to raise $8 billion in gender-focused investment, with $1.5 billion sourced specifically from local capital reserves, to ensure 90 per cent adoption of GESI principles by general partners.
"This system represents our dedication to make capital accessible to all, rather than being limited to a few. To keep this progress moving and ensure these goals are achieved, we are also introducing the Nigeria Inclusive Capital Commitment 2035 initiative," he explained.
The Chair, GSG Nigeria Partner and Vice Chair, GSG Impact, Ibukun Awosika, stated that when a country thoughtfully develops opportunities and supports the empowerment or enablement of its women and disabled individuals to play significant roles in the economy, it fosters a fair society where they can participate effectively.
The former chairperson of FirstBank stated, 'We only benefit when we utilize the best talents of both men and women, and when we establish a fair society for all citizens to contribute their full potential, without anyone facing a stereotype or a mindset that tells them they cannot.'
The conference centered on Nigeria, where women-headed Micro, Small, and Medium Enterprises make up approximately 32.9% to 40% of all MSME ownership.
Provided by SyndiGate Media Inc. (Syndigate.info).
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