GENDER EQUALITY SESSION AT MICROFINANCE TECHNOLOGY SUMMIT
The Mastercard Foundation Fund for Rural Prosperity recently participated at the Microfinance Technology Summit 2023 on 28 and 29 March in Kigali, Rwanda. This inaugural summit was organised by SNG events in partnership with the Association of Microfinance Institutions in Rwanda (AMIR). The aim of the event was to bring together microfinance institutions (MFIs) and technology service providers to discuss acceleration and uptake of technology solutions fostering financial inclusion in Africa.
PANEL DISCUSSION: WOMEN IN FINANCE AND TECHNOLOGY
Nashipae Leteipan, Fund Communications Manager, was part of a panel discussion titled ‘Women in Finance and Technology: Are we doing enough for gender equality?’. Nashipae reinforced the strong role women play in financial inclusion in Africa. However, lack of education contributing to financial illiteracy, lack of collateral ownership and lack of access to technology hinder women’s access to finance. To remedy this, she highlighted the importance of incorporating the needs of women when designing financial products and services. For instance, ensuring training for women with the technology driven products being rolled out, and structuring group loans which align to women’s preference for borrowing in groups.
Nashipae Leteipan (3rd from left) explains the impact the Fund has achieved.
Nashipae highlighted the Fund’s contribution to supporting women’s access to finance through its portfolio of participants that have created 5,000 direct jobs (38% which have been women). She also indicated that the Fund portfolio has reached over 5.3 million people with 35% of these being women in rural areas.
Nashipae Leteipan (centre) explains how Fund participants have addressed gender issues.
EXHIBITING AT THE SUMMIT
The Fund was also an exhibitor at the event. Winfred Kinuthia, Fund Grants and Finance Senior Associate shared information on the Fund, portfolio and impact in the financial inclusion space with visitors to the exhibition area. The team also interacted with other players in the microfinance sector who are working to increase access to finance and grow overall financial systems.
Nashipae Leteipan (left) and Winfred Kinuthia in the exhibition area of the summit.