Tanzania is set to take center stage in the gender equality discourse as it hosts a significant three-day international conference on gender financing. The event, which began today, drew Ministers of Finance and Gender from 22 African countries, showcasing a collaborative effort between the Tanzanian government, the United Nations Women (UN Women), and the International Monetary Fund (IMF) through its regional initiative, Afritac East (AFE).
Dr. Mwigulu Nchemba, Tanzania's Minister for Finance, announced in a press briefing on Tuesday the conference's primary objective: to tackle gender disparities and propel women's empowerment, aligning with the Sustainable Development Goals (SDGs). The confirmed list of participating countries includes Burundi, Burkina Faso, Democratic Republic of Congo, Eritrea, Ethiopia, Guinea, Ivory Coast, Kenya, Liberia, Madagascar, Malawi, Mozambique, Nigeria, Senegal, Somalia, South Africa, Rwanda, South Sudan, Uganda, Tanzania, Zambia, and Zimbabwe.
The Key discussions revolved around the implementation of the Generation Equality Forum, focusing on economic justice, rights, and committed financing in their respective nations.
Xiangming Li, Director of AFRITAC for East Africa, commended Tanzanian President Samia Suluhu Hassan for her exemplary leadership in Generation Equality initiatives, highlighting its pivotal role in steering the country towards an inclusive and prosperous future.
Li emphasized the significant collaboration between the Ministry of Finance and the Ministry of Gender as a testament to the joint dedication to funding gender equality initiatives.
Co-hosting the conference is seen as a foundational step towards engaging in constructive dialogue, exploring innovative solutions, and establishing actionable steps to enhance gender equality and, by extension, the economic growth potential.
Li pointed out the current gender disparity in the labor market, with only 47% of women actively participating compared to 72% of men. She underscored the untapped potential in emerging and developing economies, citing IMF estimates that reducing this gap by just 6 percentage points could increase GDP by as much as 8 percent.