Women’s Economic Empowerment: A Global Economic Pillar

At the prestigious Social Innovation Days 2024 in Berlin, the Founder of Advantage Health Africa and a leading figure in social entrepreneurship, Abimbola Adebakin, delivered a keynote that underscored the strategic importance of Women’s Economic Empowerment. Her address to the distinguished attendees highlighted the transformative impact of empowering women on the global economy, particularly within the Global South.

The Economic Impact of Social Entrepreneurship

Women’s Economic Empowerment is not just a social justice issue; it’s a core economic driver. Abimbola presented compelling data showing that social enterprises are generating approximately $2 trillion in annual revenue and creating 200 million jobs worldwide. She emphasized the disproportionate role women play in this sector, leading half of all social enterprises compared to a smaller fraction in traditional businesses.

Social Enterprises as Catalysts for Empowerment

Abimbola’s vision for social enterprises extends beyond their economic contributions. She advocates for these entities to serve as catalysts for Women’s Economic Empowerment, providing opportunities for women to ascend to leadership roles and make significant contributions to their communities and economies.

Addressing Barriers to Women’s Economic Participation

The keynote addressed the persistent barriers that hinder Women’s Economic Empowerment. Adebakin called attention to the gender pay gap and the funding challenges faced by female entrepreneurs, particularly in sub-Saharan Africa. She highlighted the need for strategic initiatives to dismantle these obstacles and pave the way for women’s full economic participation.

Kaduna Women Economic Empowerment Project: A Model Initiative

Abimbola showcased the Kaduna Women Economic Empowerment Project as a model initiative that demonstrates the profound impact of targeted investment in women. The project, a collaboration between five partners, has become a benchmark for how to effectively empower women economically and create sustainable change.

The Strategic Imperative of Investing in Women

In her concluding remarks, Abimbola reinforced the notion that investing in Women’s Economic Empowerment is a strategic imperative for global development. She urged the audience to recognize the economic and social benefits of such investments and to take collective action to support women’s economic roles.