Togo: Efforts to improve women’s financial literacy are more needed than ever, says Minister of financial inclusion
Thursday, 03 March 2022 15:55 
(Togo First) - Promoting women's financial inclusion benefits their communities, says Togo's Minister for Financial Inclusion and the Informal Sector, Mazamesso Assih. In a recently published op-ed titled "Women's financial literacy benefits all," the official advocates for women's financial education in Africa.
"In theory, African women can start a business. But in practice, they are not as well equipped to develop and secure their businesses over the long term," she said.
The minister proposes to equip women with the ability to understand and effectively use financial tools, which are essential for making informed financial decisions. “With the rise of women's entrepreneurship and the increasing participation of women in the workforce, improving women's financial literacy is more important than ever,” she said.
For Mazamesso Assih, the development of women's economic potential creates equal opportunities, contributes to the development of their communities, and the economic growth of the country.
“Financial literacy is not a magic bullet for economic growth, it must go hand in hand with a robust financial system and an effective regulatory environment,” she said.
She notes that in Togo, efforts are being made in this direction. The World Bank in its 2020 report titled “Unleashing the potential of women's enterprise in Africa” said that the country is the only one in the West African Economic and Monetary Union where micro-enterprises run by women are more profitable than men’s.
Esaïe Edoh
