The Union for the Mediterranean (UfM) and the Union of Arab Banks (UAB) are organizing a conference entitled “Bridging Gender Gaps in the Financial Sector in the Middle East and North Africa: Towards Developing Women-Led Business” on March 6 and 7, in Cairo on the occasion of International Women’s Day.
The Union for the Mediterranean stated, in a statement last Wednesday, that this comes at a time when the Middle East and North Africa region records the highest level of inequality in entrepreneurship between men and women in the world, as less than 5% of companies are led by women, which is The rate is much lower than the global average of 23-26%, and women are more than twice as likely as men to suffer from unemployment.
The Union for the Mediterranean added that the annual losses resulting from the lack of economic participation are estimated at 575 billion dollars, which means that the banking and financial sector bears a great responsibility in reversing the trend of this phenomenon by adopting policies that take into account gender differences.
He continued that closing gender gaps in the financial sector in the Middle East and North Africa region is fundamental to promoting equitable growth in the region so the Union for the Mediterranean and the Union of Arab Banks intend to celebrate International Women’s Day by bringing together senior bankers and entrepreneurs with the aim of assessing the current challenges but also Charting the path to a more just, prosperous and innovative future.
The two-day conference includes three-panel discussions on gender disparities in finance, actions that financial institutions can take to promote gender equality, and women’s angel investing, in addition to three interactive roundtable sessions on innovative practices to enhance inclusion in this sector and integrate women into… The field of financial technology and gender equality in international trade.
The Businesswomen’s Club in the Middle East and North Africa region will organize a competition to present project ideas, followed by an awards ceremony for startup companies competing for incubation and acceleration opportunities, in addition to a session to connect women-led companies with investors.
