Summit Day 2: May 29, 2025
Accelerating Enabling Entrepreneurial Ecosystems
Day 2 began with identifying effective non-financial services for women and how to deliver them sustainably at scale. The spotlight then shifted to fast-growth, women-owned and women-led businesses, exploring their needs, successful support models, and how to build thriving entrepreneurial ecosystems.
The program moved to tackle the climate crisis, highlighting strategies from Rwanda and Kenya on empowering women farmers with climate resilience strategies. A session on gender-intelligent digital financial services followed, focusing on inclusive design to integrate more women into formal financial systems.
The Summit closed by discussing how to deepen customer relationships by addressing women’s needs across key life moments.
It was followed by a meeting of the fourth annual meeting of Women’s Financial Inclusion Data Partnership (WFID) during which policy makers shared data-driven policies designed to support women-led MSMEs, aligning with the year’s overarching theme.
PANEL I
Scaling Women’s Entrepreneurship Through Non-Financial Services
Effective NFS starts with deep client understanding, segmentation (aspirational vs. established entrepreneurs, different sectors), and tailoring services to specific needs and priorities rather than a one-size-fits-all approach. Women value peer support and practical, actionable tools. Banks need to partner with tech enabled NFS providers if they are to make their NFS sustainable.
Moderator
Anna Gincherman, Partner, ConsumerCentriX
Discussants
Naomi Kirungu, SME Partnerships Lead, African Management Institute
Karen Licurse, Managing Director, Digital Boost, United Kingdom
Sarah Lubega, Manager of Women’s Banking, Stanbic, Uganda
Alice Nkulikiyinka, Country Director, Business Professionals Network (BPN) Rwanda
Key Takeaways
Tailored, Hybrid Support Works Best
Non-financial services (NFS) for women are most effective when they’re customized to specific segments and combine digital tools with personal interaction, such as mentorship and peer networking.
Sustainability Hinges on Value
NFS can be sustainable through tiered pricing, corporate sponsorships, or indirect returns (e.g., client loyalty, better loan performance)—as long as the value is clear and outcomes are tangible.
Trust and Collaboration Are Core
Trust-building through empathy and relevance is essential, and partnerships with expert ESOs help financial institutions deliver meaningful, scalable support.
PANEL II
Fast Growth Start Up Enablers
Women led fast growth start-ups need early-stage non-collateralized finance and tailored support to founders’ specific needs, including access to networks, supply chains, and commercial funding opportunities. Founders need to understand their business fundamentals and the appropriate type of funding for their stage of growth.
Moderator
Malik Shaffy Lizinde, Serial Entrepreneur, Rwanda
Discussants
Susan Nakami, Regional Lead – Africa, Village Capital, Kenya
Maryanne Ochola, Regional Manager Sub-Saharan Africa & Managing Director, Endeavor Kenya
Paradis Imfura Nishimwe, Founder and Managing Director, Wood Habitat, Rwanda
Sharon Akanyana, Founder and Managing Director, Ishyo Foods, Rwanda
Key Takeaways
Stage-Specific & Tailored Support Is Essential
Entrepreneurs need different kinds of support depending on their stage—seed ventures need catalytic capital and mentoring, while growth-stage businesses require market access and scalable funding options.
Women Face Unique Barriers
Gendered biases in funding, risk mitigation questioning by investors, and societal expectations shape how women build and grow businesses, making trust-based, high-touch support models essential.
Capital Strategy & Sustainability Matter
Relying solely on grants can limit credibility; revenue-driven growth, appropriate funding (like low-interest loans), and tools like Village Capital’s Abaca help women align their business with the right financial partners.
PANEL III
Gender Intelligent Fintech design
Financial institutions share how they are redesigning their digital financial services sales funnels to better reach, on-board, cross sell and upsell to women.
Moderator
Carine Fersan, Director Peer Learning, Financial Alliance for Women
Discussants
Faria Shahid, Head Affluent Segments, HBL, Pakistan
Carole Karema Jeni, Head of IT and Business Transformation, Equity Bank, Rwanda
Key Takeaways
Access & Trust Are Foundational
Socio-cultural barriers, lack of digital literacy, and affordability challenges hinder women’s access to digital financial services (DFS); trust-building through human interaction is essential.
Gender-Inclusive Data & Design
Traditional algorithms often penalize women. Debiasing algorithms, using alternative data and analyzing the gender breakdown of customers at each stage of the sales funnel are essential to getting more women to use DFS.
Beyond Onboarding to Engagement
True impact comes from ongoing support, life-moment-centered product design, and continuous engagement—not just initial access.
Resources
How Fintechs Can Capture The Female Economy, Financial Alliance for Women 2022
PANEL IV
Gender Inclusive Climate Solutions
Climate change is having a disproportionate impact on women farmers in Africa. To support them effectively, solutions must be gender-intentional, combining finance, technical support, and innovative insurance. Collaboration among governments, financial institutions, ESOs, and development partners is key to building sustainable agricultural ecosystems for women.
Moderator
Inez Murray, CEO, Financial Alliance for Women
Discussants
Teddy Mugabo, CEO, Rwanda Green Fund
Catherine Gitonga, CEO, Smart Regional Consultants, Kenya
Key Takeaways
Gender-responsive approaches are essential
With intentional planning, KPIs, and inclusion in decision-making.
Bundled services
Including training, mentorship, and financial literacy—are more impactful than standalone funding.
Climate finance must be accessible
With tailored products, innovative insurance, and de-risking tools to reach women-led enterprises.
PANEL V
Scaling Women’s Markets Programs: A Life Moments Strategy
Financial services for women are more effective when built around life stages such as health, education, family care, and recovery from abuse—leading to more personalized and empathetic support.
Moderator
Karyl Akilian, Director, Marketing & Business Development, Financial Alliance for Women
Discussants
Rashidat Adebisi, Chief Client Officer, AXA Mansard, Nigeria
Elizabeth Rojas, 2nd VP Women’s Business Strategy, Banco BHD, Dominican Republic
Lizzy Mogale, Managing Executive, Insights and Advisory – Retail and Business Banking, Nedbank, South Africa
Key Takeaways
Life Moments-Centric Design
Financial institutions that shift to serve women based on distinct life events (e.g., health, education, abuse recovery), enable more relevant, empathetic, and integrated financial services.
Health & Education as Core Pillars
Health is prioritized across income levels, prompting AXA to provide tailored insurance (e.g., for maternal care and other women specific health moments). Banco BHD solves for household’s education needs offering innovative savings and loans packages to parents while banking schools (often run by women) and establishing partnerships with school suppliers for better deals.
Tackling Financial Abuse & Building Internal Capacity
Banks like Nedbank address financial abuse of customers and staff through subtle awareness campaigns. Any life moments strategy must be based on training staff training in empathy and gender sensitivity.
WFID COMMUNITY OF CHAMPIONS WORKSHOP
UNLOCKING WMSME FINANCE – DATA, POLICY AND PRACTICES
The WFID Community of Champions was launched in 2022 as a collaborative platform aimed at regulators and policymakers. Its central purpose is to facilitate the exchange of experiences and strategies related to the collection and application of supply-side data to advance women’s financial inclusion.
In this fourth annual in-person meeting, WFID members shared country-specific advancements in the collection and analysis of gender-disaggregated data on MSMEs and explored policy designs that aim to improve access to financial and non-financial services for women-owned/led MSMEs.
This initiative is spearheaded by the Financial Alliance for Women, in partnership with ConsumerCentriX, and funded by the Gates Foundation.
PANEL I
ADVANCEMENTS IN THE COLLECTION OF GENDER-DISAGGREGATED DATA ON MICRO AND SMALL-TO-MEDIUM-SIZED ENTERPRISES (MSMES)
Moderator
Anna Gincherman, Partner, ConsumerCentriX
Discussants
Shayema Islam, Director, National Financial Inclusion Administrative Unit, Bangladesh Bank
Milly Nalukwago Isingoma, Director of Statistics, Bank of Uganda
Christine Waita, Senior Data Analyst, Kenya Bankers Association
Ingrid Cyuzuzo, Manager Financial Innovation, National Bank of Rwanda
Sophia Abu, Head of Gender, Financial Inclusion Delivery Unit, Central Bank of Nigeria
Key Takeaways
Gender-Disaggregated Dashboards Are Evolving
Countries have launched or upgraded dashboards to capture granular data by gender, business size, and geography.
Integrated Data Infrastructure Is a Priority
Supply-side data sources are expanding beyond banks to include mobile money services, SACCOs, fintechs, and capital markets, enabled by collaboration with data aggregators such as credit reference bureaus and by using APIs to facilitate/automate data access.
Policy Goals Aim at Inclusion and Equity
Countries are setting gender-based lending targets, credit guarantee schemes, and product innovation strategies to ensure women-led MSMEs can grow.
Future Vision Focuses on Data Quality, Reach, and Use:
Planned next steps include mapping informal sectors, using tax IDs to enhance tracking of formalized women-led businesses, and embedding demand-side data into analysis.
PANEL II
POLICY INTERVENTIONS DESIGNED TO IMPROVE LEVELS OF FINANCING TO WOMEN-OWNED MSMES AND SUPPORT THEIR BUSINESS GROWTH
Moderator
Inez Murray, CEO, Financial Alliance for Women
Discussants
Mr. Khaled Bassiouny, General Manager – Financial Inclusion Department, Central Bank of Egypt
Karina Villanueva Aritzmendi, Area Director, Ministry of Finance and Public Credit (Hacienda), Mexico
Paola Mariana Vivas Arango, Financial Inclusion Group Lead, Financial Superintendency of Colombia
Fizza Khalid, Assistant Director, Financial Inclusion Division, State Bank Pakistan
Key Takeaways
Egypt’s Nilepreneur Initiative Drives Startup Support and Inclusion
With 126 centers and 60 banks across 25 governorates, the program supports entrepreneurship through five pillars, reaching over 317,000 people (40% women) and supporting 2,400+ women-led businesses with over 1 billion EGP in financing.
Mexico Promotes Gender Inclusion at All Institutional Levels
Mexico’s Ministry of Finance developed a multi-level guidelines framework (board, management, operational) paired with training, communication, and data tools to support gender-inclusive leadership and financial product development within FSPs.
Colombia Innovates with Alternative Credit Scoring
The Superintendency is piloting non-traditional data use (e.g., mobile phone data, utility payments, transaction patterns) to reduce gender gaps in access to finance, especially in rural areas. Guidelines are being formalized and integrated into open finance frameworks.
Pakistan Makes Major Strides in Women’s Financial Inclusion
From just 7% in 2008 to 50% in 2024, Pakistan achieved dramatic progress via its Banking on Equality Policy, mobile access initiatives, and mandatory gender-disaggregated targets for financial institutions.
Market Prods and Policy Are Key Themes Across All Countries
Whether through national financial inclusion policies (Mexico), mandatory board representation (Pakistan), or alternative scoring frameworks (Colombia), the trend is toward sustainable, regulation-aligned change supported by data-driven diagnostics and capacity building.
