Global conference calls for action on women’s financial inclusion under G20 framework
"Let us be bold in our ambitions and unwavering in our commitment to ensuring that the financial systems of tomorrow work for all - not just a few,” Chikunga said.
The four-day event, held from Tuesday, 6 to Friday, 9 May 2025, convenes the 2nd Empowerment of Women Working Group (EWWG) and the Financial Inclusion Conference under South Africa’s G20 Presidency.
Hosted by the Department of Women, Youth and Persons with Disabilities (DWYPD), the conference aims to influence future G20 policy by introducing a Guidelines Framework for Mainstreaming Women’s Priorities amidst global economic reforms.
In her opening address, Chikunga highlighted five broad pillars of financial inclusion that needed urgent attention. These include: economic decision-making and policy leadership; progressive fiscal reforms and global financial architecture overhaul; women’s access to land and productive assets; elimination of gendered trade barriers; and access to financial capital and services.
On economic leadership, Chikunga called for the implementation of gender-responsive budgeting across all government departments, the establishment of meaningful quotas for women in financial institutions and regulatory bodies, and the creation of specialised economic advisory councils to amplify women’s voices in decision-making processes.
Closing finance gaps
She also called for systemic reform to close the global financing gap for women entrepreneurs, which is estimated at $1.7tn by the World Economic Forum.
“Research shows that traditional banking systems are failing women through collateral requirements that overlook women’s limited property ownership, financial products that ignore women's business patterns, and gender bias in lending decisions.
“Without access to capital, women’s entrepreneurial potential remains severely constrained. Addressing this domain requires specialised women’s banking initiatives, scaled-up credit programmes with clear pathways to formal banking, gender-responsive investment funds, and reforms to our property laws,” the minister said.
The minister also stressed the urgent need for addressing women's access to land and productive assets, describing it as key pillars of financial inclusion and the foundation of wealth creation.
"Economic inclusion cannot co-exist with landlessness. We must dismantle the legal, social, and customary barriers that still prevent women from owning land, accessing credit, and controlling means of production,” she said.
Chikunga also encouraged delegates to develop strategies that empower women in trade, particularly in the context of Southern Africa's key role in the global energy transition.
“For example, how do we position women at the forefront of beneficiating the projected surge in minerals critical to energy transitions and their related value chains? Our region, Southern Africa, is central to the global energy transitions,” the minister said.