WWB launches new toolkit to boost financial inclusion for women

Women’s World Banking (WWB), a global non-profit organisation, has announced the launch of its Digital Credit Activation Toolkit.

The event featured discussions on the importance of digital credit solutions in advancing women’s financial empowerment and bridging the gender gap in the financial sector, according to a statement.

“The toolkit is designed to empower financial institutions to enhance their digital credit offerings, with a specific focus on driving financial inclusion for low-income women,” the statements said.

“It results from extensive research, collaboration, and expertise from WWB and its partners. It provides financial institutions with a strategic framework to create digital credit solutions tailored to the unique needs of low-income women,” it added.

It noted that by addressing gender biases and incorporating women-centric design principles, the toolkit aims to bridge the financial gender gap and create more inclusive financial ecosystems, especially for Nigeria’s unserved or underserved women of about 75 percent.

At WWB, our mission is to create a world where all women have access to the financial tools they need to achieve their goals, according to Ade Ashaye, regional head at WWB.

“The launch of the toolkit is a significant milestone in our ongoing commitment to promoting financial inclusion. This toolkit equips financial institutions with the knowledge and tools to develop digital credit solutions that are not only accessible but also responsive to the needs of low-income women,” he said.

According to WWB, the toolkit comprises three key phases such as Assess, Adapt, and Roll Out. “Each phase provides actionable insights and guidelines to financial institutions looking to enhance their digital credit offerings.”

“We will implement the Toolkit using an acronym that I call IVIE: Impact, Value, Inspire, and Empower. These pillars will help us easily attract customers and achieve the desired results. Our focus is on uplifting, inspiring, inclusion, and empowering women to reach a status akin to royalty,” said Uche Uzoebo, chief distribution and stakeholder engagement officer at Shared Agent Network Expansion Facilities Limited.

Angela Wambugu, director of advisory services for Africa at WWB, said the toolkit represents a transformative step towards making financial services more inclusive.

“By empowering financial institutions to offer tailored digital credit solutions, we are unlocking new opportunities for low-income women, enabling them to build brighter futures for themselves and their families.”