Vice President calls for inclusive financial systems to support women in informal sector
Vice President Prof Jane Naana Opoku-Agyemang has called for a major rethink of financial systems across Africa, stressing that women in the informal sector who sustain local economies continue to face exclusion from formal banking structures.
Speaking at the 2026 Oxford Africa Conference at the University of Oxford in the United Kingdom on Saturday, May 16, 2026, the Vice President said women have historically played a central role in economic activities across African societies but remain underserved by traditional financial institutions.
According to her, many market women and small-scale entrepreneurs possess strong business instincts and contribute significantly to local economies, yet they continue to face barriers in accessing financial support.
“Many women have long been visible in our markets, but strangely invisible on our balance sheets. Market women are resilient, productive, business-minded and often highly informed about the direction of their countries,” she said.
Prof Opoku-Agyemang noted that most financial institutions assess creditworthiness mainly through collateral requirements, a condition many women in the informal economy are unable to meet despite their financial discipline and entrepreneurial capabilities.
“Though they do not lack discipline or commercial instincts, the scale at which they operate is often considered too informal, risky or small for traditional banking systems to engage,” she added.
The Vice President explained that many women in the informal sector are not seeking large commercial loans but rather modest financial support to expand small businesses involved in food trading, household goods, agriculture, and other commercial activities that support households and local economies.
“In practice, many women are not seeking large commercial loans. They require relatively modest capital at the right moment to begin trading in foodstuffs, household goods, agricultural produce and other forms of small-scale commerce that sustain households and circulate income within local economies. Yet even these small sums remain out of reach,” she stated.
Prof Opoku-Agyemang highlighted the proposed Women’s Development Bank as an important intervention aimed at addressing the financing gap affecting women entrepreneurs.
She described the initiative as a targeted approach to improving financial access for women who have traditionally been overlooked by conventional banking systems.
The 2026 Oxford Africa Conference, held from May 16 to 17 at the Andrew Wiles Building of the University of Oxford, was themed “Anchoring Africa: Grounded Leadership in the Age of Disruption.”
The conference focused on discussions around how African leadership and institutions can respond to global challenges including economic uncertainty, technological advancement, climate change, and shifting geopolitical developments.
The event was organised by the Oxford University Africa Society, a student-led platform that brings together policymakers, academics, entrepreneurs, and global leaders to discuss Africa’s development and future prospects.
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