By Joseph Momoh, Reporter D.S.
A high-level inception meeting focused on catalytic financing for women and youth entrepreneurship took place on April 11, 2025, at the Bank Complex in Kingtom, Freetown. The event convened senior government officials and development partners, marking a significant step toward fostering inclusive economic growth in the country.
Key dignitaries in attendance included Dr. Ibrahim L. Stevens, Governor of the Bank of Sierra Leone; Hon. Patrick Michaelson Gibrilla, Minister of Youth Affairs; Dr. Isata Mahoi, Minister of Gender and Children’s Affairs; Setcheme Jeronime Mongbo, Head of Office for UN Women; and Mr. Robert Banamwana, representing the UN Resident Coordinator’s Office.
In his opening remarks, Dr. Stevens welcomed the attendees and reiterated the Bank of Sierra Leone’s commitment to financial inclusion. He highlighted recent achievements, including the rollout of mobile and agent banking, the promotion of micro-finance savings groups, and partnerships aimed at developing human capital, particularly for women and rural communities. “These projects are part of our broader strategy for deepening financial inclusion,” he stated.
Dr. Stevens also announced the establishment of a gender inclusion directorate at the Bank, noting that women now occupy the majority of roles within it. He praised UN Women for their ongoing collaboration and efforts to enhance capacity-building programs for women and promote cooperative initiatives.
Mr. Robert Banamwana, speaking on behalf of the UN Resident Coordinator, emphasized the UN’s commitment to addressing financial inequity in Sub-Saharan Africa. He pointed out that women in the region often encounter structural barriers to financial access, which contribute to widespread poverty. “We aim to provide gender-responsive financial tools,” he said.
The initiative aspires to support approximately 5,000 businesses across Sierra Leone, allocating 5% specifically for women-led ventures. It also seeks to create job opportunities by 2028, contributing to poverty reduction, food security, and sustainable human capital development.
In her closing remarks, Setcheme Jeronime Mongbo underscored the importance of economic inclusion for women and youth, describing it as central to Sierra Leone’s development agenda. She urged the Bank of Sierra Leone, the Ministry of Finance, and financial institutions to intensify their efforts to support women economically.
Aly Guindo, Country Manager for the African Solidarity Fund (ASF), shared the organization’s mission in Sierra Leone, focusing on facilitating financial access through individual loans, market bond guarantees, and trade support mechanisms.
Khadija Jalloh, representing UN Women, delivered a comprehensive presentation on the catalytic financing initiative. She outlined a strategic plan that includes identifying and supporting women and youth entrepreneurs, enhancing their financial and managerial capacity, and collaborating with credit institutions to promote financial literacy.
Dr. Isata Mahoi expressed gratitude to UN Women for convening the meeting at a critical juncture. She highlighted that women are among the most vulnerable in the economic sector, facing challenges such as limited access to financial facilities, inadequate support for agribusiness ventures, and a lack of micro-finance options. “These are the key issues that hinder women’s potential for economic advancement,” she stated.
For more information, contact Daily Scope Newspaper at dailyscopemedia@gmail.com.
