Maata Opare urges greater financial literacy and inclusion of women in leadership

In an address at the Young African Women Congress, held in Abuja, Nigeria, Madam Maata Opare, a distinguished corporate lawyer and business leader, highlighted the critical need for women's participation in decision-making processes and financial empowerment.

Speaking to a diverse audience of young women leaders, Opare emphasized that to advance as a continent, Africa must integrate women at every level of influence, from grassroots organizations to corporate and political spaces.

“Women must be part of the decision-making infrastructure of our society,” Opare stated. She noted that across communities, unions, politics, and educational institutions, women often lack sufficient representation, which has broader implications on policy and organizational culture. She explained that when decision-making spaces are dominated by men, unconscious bias can impede diversity and equity.

"If every time we go to an interview, the panel is the same four men, generally, the unconscious bias will creep in. We choose the person that looks like us," she remarked, emphasizing the importance of gender diversity in decision-making roles.

Opare advocated for mentorship programs aimed at young girls, particularly in educational institutions, to create a pipeline of female leaders who see women in leadership and know their own potential for similar paths.

“From a young age, girls need mentors—women who have risen through the ranks and contribute meaningfully within the corporate world,” she said, underscoring the need for female role models to inspire and shape future generations.

The second part of Opare’s speech focused on the essential role of financial literacy and economic empowerment for women, especially those in the informal sector. She stressed that economic independence enables women to make decisions about their lives and future. “Economic empowerment allows you to make decisions in your life,” Opare asserted, pointing to the low levels of financial literacy across Africa as a major challenge that needs urgent attention.

With many women working in the informal sector, financial literacy, she argued, becomes a bridge to improved livelihoods. "Our continent’s economy is largely driven by women in the informal sector. Teaching them how to save, how to budget, and how to access financial tools can transform their lives,” she noted.

Financial literacy empowers women to save for the future, access loans, and secure insurance, she explained, emphasizing how savings can serve as a lifeline during illness or financial hardship.

Opare also pointed to the need for financial institutions to develop products tailored specifically for women, recognizing the unique contributions they make to their communities and economies. Citing the example of women-owned businesses such as seamstresses and hairdressers, she highlighted their role in job creation and local economic development.

“If you’re a seamstress or a hairdresser, you’re employing several people and contributing to employment in your country,” she observed. She encouraged banks to rethink traditional loan models and create financing options that meet the needs of women in small to medium enterprises.

Opare’s address underscored a vision of an Africa where women are financially empowered and equally represented in the halls of decision-making. Her message resonated with attendees, many of whom expressed appreciation for her commitment to economic inclusivity and gender equity.

With inspiring leaders like Maata Opare driving these conversations, the future of African women’s leadership and financial empowerment holds great promise.

The Young African Women Congress (YAWC) Network is a fraternity of young women of African descent living in Africa and in the diaspora who seek to be empowered and be themselves, change-makers for leadership and development on the continent.

At the heart of its mandate is the mobilisation of women from the grassroots level for leadership and development through advocacy, training and projects.

This year’s edition was held under the theme: “Enhancing Women’s Economic Empowerment through Innovation and Technology.” The event was held from October 27 to 31, 2024.