IFC Calls for Bold Action on Gender Equality at GSE’s ‘Ring the Bell’ Event
The International Finance Corporation (IFC) has called for urgent and coordinated efforts to close the gender gap in Africa, emphasizing that gender equality is not just a moral obligation but an economic necessity.
Speaking at the Ghana Stock Exchange’s (GSE) “Ring the Bell for Gender Equality” event on Tuesday, March 11, 2025, IFC’s Senior Country Officer for Ghana, Cemile Hacibeyglu, stressed that promoting women’s rights, equality, and empowerment is critical to achieving sustainable development and economic growth.
“We ring the bell not just as a symbolic gesture, but as a call to action,” she stated. “When women and girls thrive, entire communities and economies prosper. However, in sub-Saharan Africa, the gender gap remains at 32% across political participation, economic opportunity, education, and health. At the current pace, it will take 95 years for Africa to achieve gender parity.”
Despite these challenges, she noted that Africa leads the world in female representation on company boards at 25%, compared to the global average of 17%. Additionally, Africa has the highest proportion of women entrepreneurs globally, with one in four businesses led by a woman.
Innovation and Private Sector Leadership Driving Change
Ms. Hacibeyglu highlighted how technology and digital platforms are helping to bridge gender gaps, providing African women with greater access to jobs, markets, and education. She also underscored the crucial role of the private sector in advancing gender-inclusive policies.
“Businesses and financial institutions that champion gender diversity aren’t just doing the right thing—they’re making smart economic decisions. When women succeed, industries thrive, economies grow, and communities are lifted. This is not just about fairness; it’s about the future we all share,” she quipped.
She reaffirmed IFC’s commitment to gender equality, both within its operations and through its investments. IFC’s global projects expand access to finance for women entrepreneurs and support companies that champion gender diversity.
In Ghana, IFC is working with financial institutions to increase lending to women-owned businesses, ensuring that more women can fully participate in the economy.
The institution is also spearheading initiatives like SheWins Africa, which supports up to 5,000 women-led startups through investment-readiness training and investor connections.
The International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.
Operating in over 100 countries, IFC provides financing and advisory services to foster economic growth and private sector development.
