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Call to advance financial inclusion for women

Call to advance financial inclusion for women

Call to advance financial inclusion for women Minister of Women, Youth and Persons with Disabilities Sindisiwe Chikunga has emphasised the importance of collaborative ecosystems in driving successful and resilient women-owned businesses across Africa. Addressing the Group Twenty (G20) Empowerment of Women Working Group (EWWG) Women to Africa event, held in Johannesburg on Friday, Chikunga said governments, including private sector, development institutions, and women entrepreneurs, should work together to advance financial inclusion for women. “No economy can claim resilience if more than half its people — women, young and old — remain locked out of markets, of finance, of safety, and of dignity,” the Minister said. Under South Africa’s G20 Presidency, the EWWG prioritises the care economy, financial inclusion for women and ending gender-based violence and femicide (GBVF). “These priorities sit firmly within Africa’s broader G20 Presidency agenda — reforming global governance institutions, financing sustainable development and climate action, driving inclusive growth and job creation, harnessing digital transformation, and building peace and resilient societies. None of these can succeed if women are left behind. “At the continental level, Agenda 2063 reminds us that Africa’s future will be people-driven, especially by women and young people. The African Continental Free Trade Area (AfCFTA) — the largest integration project in the world — must open its value chains to women, who already make up 70% of cross-border traders. If AfCFTA does not work for women, it will not work for Africa,” the Minister said. At the domestic level, South Africa has made progress, women now make up 43% of Cabinet, 43.5% of Parliament, and 45% of the judiciary. The new Public Procurement Act makes the 40% set-aside for women-owned businesses binding, not optional. “Yet challenges remain, 35.7% women’s unemployment, with young women above 44%; women represent less than 13% of patent holders; and the cost of GBVF drains our economy of billions each year. “These realities remind us that progress without transformation is organised inequality. And they demand that Africa’s G20 Presidency must not end with words, but with a legacy of systems that work for women,” Chikunga said. The Minister therefore called for bold shifts, not just commitments, but concrete actions. “We must finance the missing middle by unlocking affordable capital for women-owned businesses that are too big for microfinance and too small for traditional banks. “We must place women at the frontier of Africa’s new industries — from renewable energy and agritech to digital and advanced manufacturing — as leaders, owners, and innovators. “We must institutionalise accountability beyond events. Conferences do not change the world — systems do. That means setting measurable targets, enforcing fair payment norms for women-owned businesses, tracking progress publicly, and embedding zero tolerance for gender-based violence in every workplace,” the Minister said. She said these shifts are reinforced by the legacy projects of Africa’s G20 Presidency. South Africa assumed the G20 Presidency from 1 December 2024, and it will run until 30 November 2025, under the theme: Solidarity, Equality, Sustainability”. It comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and United States) and two regional bodies, namely the European Union (EU) and African Union (AU). The G20 members represent around 85% of the global Gross Domestic Product, over 75% of the global trade, and about two-thirds of the world population. - SAnews.gov.za nosihle Sun, 08/31/2025 - 11:55 66 views

NYDA clarifies partnership with Scorpion Kings

NYDA clarifies partnership with Scorpion Kings

NYDA clarifies partnership with Scorpion Kings The National Youth Development Agency (NYDA) has sought to clarify that its partnership with music duo Scorpion Kings for a concert was a non-financial collaboration aimed at creating opportunities for young people in the creative sector. This comes after the agency noted concerns raised by the public regarding its involvement in the event. “The NYDA has entered a partnership with Scorpion Kings to expand opportunities for young people. The NYDA did not pay or provide financial support for the Scorpion Kings event,” NYDA said in a statement on Friday. The partnership provides the National Youth Service (NYS) participants with exposure and practical experience in event management and related functions, while supporting the broader growth of South Africa’s arts and culture industry. “By engaging young people in event functions such as ushering, stage support, and front-of house operations, the NYS is helping to build technical and professional skills that extend across the arts, culture, and entertainment industries. “This positions the NYS as a key enabler of entry-level opportunities, giving participants the foundation to pursue careers in events, stage management, production, hospitality, and beyond. “The Scorpion Kings concert partnership illustrates how public-private collaboration can create spaces for youth to be active participants in major cultural events, not just as audiences but as contributors,” the agency said. Currently, more than 4 000 NYS participants are applying their craft to uplift communities, whether through local performances or cultural initiatives that foster social cohesion. Additionally, through the Young Creatives Programme (TYCP) and the partnership with the Department of Sport, Arts and Culture (DSAC), over 330 young artists are supported to grow their talents while preserving and promoting South Africa’s cultural heritage. According to the NYDA, the creative arts and entertainment sector is one of the fastest-growing contributors to South Africa’s economy, however, it remains underdeveloped in terms of accessible pathways for youth. "The NYS is working to bridge this gap. This partnership is more than a single event. It represents a broader vision of youth empowerment, using the service as a platform for skills development, employability, and sector transformation. "By integrating youth into the creative industries, the NYS contributes to diversification, professionalisation, and unlocking the sector’s potential for job creation. Equally, it positions the NYS as a structured, scalable model for industries seeking to nurture and grow young talent, as well as advancing inclusive economic growth,” NYDA said. The agency said it plans to scale and replicate this model to impact youth across both rural areas and their urban counterparts, ensuring equitable access to opportunities within the creative economy nationwide. - SAnews.gov.za nosihle Sun, 08/31/2025 - 11:10 20 views