Why Women Should Get More Bank Loans Than Men – Adesina
Women should get more bank loans than their male counterparts because more women are likely to pay back a loan than men.
That is the argument being put forward by Nigeria’s former minister of Agriculture, Akin Adesina.
Adesina who is now President of Africa Development Bank, AfDB argued that 98% of women repay their loans.
Speaking at the first ever Africa Investment Forum (AIF) in Sandton, South Africa, Adesina said if women had the resources available to men, the gross domestic product, GDP of the world will go up by 26%.
“If the world today has the same resources for women that it has for men, you would be able to increase the GDP of the world by 26%,” Adesina said.
“And in case of Africa, that GDP will go up by an additional 12%. So it makes sense, economic sense, to invest in women.
“That is where the challenge really is, the women don’t have access to finance. If you look at the financing gap that women have, it is roughly anything around $42 billion in terms of financing businesses for women in Africa today.
“Take agriculture, that is probably another $12 billion gap for financing for women,” he explained.
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