AFRACA and FAO collaborated in convening a pivotal side event  during the 68th session of the United Nations Commission on the Status of Women (CSW68). Held virtually, the event focused on “Alternatives to Collateral and Women’s Financial Inclusion,” addressing the pressing issue of collateral as a barrier to women’s access to finance, especially in Rural Agricultural Finance (RAF). Mr. Thomas Essel, Secretary General of AFRACA delivered the keynote address while Mme. Azaratou Sondo Nignan, Directeur  Générale, Faîtière des Caisses Populaires du` Burkina (FCPB), AFRACA Executive Committee member made technical contributions during the panel session. In their address they outlined the significant barriers that traditional collateral requirements pose for women, particularly those in vulnerable groups, startups, and rural SMEs. The discussions  concluded with innovative policy recommendations towards alternative forms of collateral, such as movable assets, character-based lending, tax rebates to banks and promotion of land banking policies.

This side event underscored AFRACA’s commitment to driving the agenda of women’s financial inclusion through innovative approaches to collateral and strategic collaborations. The insights and discussions from this event are expected to inform future initiatives and policy developments aimed at enhancing access to finance for women in rural and agricultural sectors.

Please click HERE to access the full recording.