AfDB decries low procurement by women businesses
12 September 2024 |
12:57 am
African Development Bank (AfDB), yesterday, lamented the disparity in public procurement, revealing that women-owned businesses receive a mere 1% of the estimated $10 trillion spent yearly.
African Development Bank (AfDB), yesterday, lamented the disparity in public procurement, revealing that women-owned businesses receive a mere 1% of the estimated $10 trillion spent yearly.
It also stressed that collaborative efforts among governments, civil society, private sector stakeholders, and individuals were vital for driving meaningful change and promoting inclusive societies.
The Chief Gender Officer of AFDB Nigeria, Maria José Moreno Ruiz, disclosed this in Abuja, during the Women Week open day, organised by the UN Women Regional Offices for West and Central Africa and Eastern and Southern Africa.
The five-day event, themed, “Women’s Economic Empowerment through Affirmative Procurement in Africa,” brings together experts, policymakers, and stakeholders to share knowledge and strategies on promoting women’s economic empowerment through inclusive procurement practices.
Ruiz emphasised that affirmative procurement was crucial for gender-responsive budgeting and noted the severe underrepresentation of women-owned small and medium enterprises in public procurement.
She said: “Gender-responsive procurement is also central to gender-responsive budgeting. Yet, women-owned small and medium enterprises are severely underrepresented as suppliers, securing only an estimated 1% of the $10 trillion U.S. dollar that is spent yearly on public procurement.”
In her remarks, the UN Women’s Country Representative, Ms Beatrice Eyong, emphasised that affirmative procurement was a critical tool for unlocking women’s economic potential.
Related
1 day ago
Clears all 18 council areas PDP, ADP clinch second and third positions Governor Lucky Aiyedatiwa, who is the gubernatorial candidate of the All Progressives Congress (APC) in Ondo State, has been declared the winner of Saturday’s governorship election in the state. The INEC Returning Officer for the election, Prof. Olayemi Akinwunmi, made the declaration at…
1 day ago
Voting began on Sunday in Senegal's snap parliamentary polls, an AFP journalist saw, with the country's new leaders aiming for a clear majority to see through their ambitious reform agenda. Dozens waited in the early morning light to cast their votes at a polling station in the capital Dakar. "I hope that (the ruling party)…
1 day ago
President Bola Tinubu is determined to change the fortunes of Nigeria, regardless of the challenges confronting the country, says Vice-Pres
1 day ago
Rich Aunty Finance, a leading fund management company, partnered with Guardians of the Nation International (GOTNI) to host the 2024 Emerging Leaders Conference.
1 day ago
Founded in 2016 and officially registered with the Corporate Affairs Commission (CAC) in 2020, Grajscents has emerged as a key player in the cosmetics and personal care industry, specialising in perfumes
2 days ago
Former Nigerian President, Olusegun Obasanjo, arrived in Kano for the wedding solemnisation of the daughter of 2023 Presidential candidate of the New Nigerian Peoples Party (NNPP), Senator Rabiu Musa Kwankwaso, holding at the palace of the Emir of Kano. The former head of state, who was received by Governor Abba Kabir Yusuf at the Mallam…
2 days ago
Special Adviser on Public Communication to Governor Hope Uzodinma of Imo State, Onwuasoanya FCC Jones, says he is disappointed over the election of Donald Trump as President of the United States of America (USA). He expressed the fear that Trump, who reclaimed the exalted seat he lost to outgoing President Joe Biden eight years ago,…
2 days ago
THE re-elected governor of Imo State, Rochas Okorocha, yesterday dedicated his victory to all residents of the state, pledging to live up to expectation during his second term.
2 days ago
The National Auditor of the Association of Senior Civil Servants of Nigeria (ASCSN) and Chairman of the TUC Delta State Council, Sir Bolum Martin Nwachukwu JP., has been awarded an honorary Doctorate Degree
2 days ago
Sen. Jarigbe Agom-Jarigbe, representing Cross River North in the National Assembly (NASS), has stated that the state chapter of the Peoples Democratic Party (PDP) is undergoing total reorganisation to reposition it ahead of 2027 elections.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.