Meaningful progress happens when governments, nonprofits, banks, researchers, and businesses come together with humility and a willingness to listen and learn
When we talk about advancing gender equality and financial inclusion worldwide, we’re not just talking about encouraging women to be more ambitious. A lack of ambition or ability was never the issue. Women have always had the drive and talent to succeed, but the systems in which they’re operating have not always been set up to help them. Too often, these systems fall short, failing to recognize the everyday struggles women face.
Around the globe, closing the gender gap remains an uphill battle. I’ve met countless women who, no matter how talented or determined, face barriers at every turn. Despite strides forward, there is still a $1.7 trillion gender gap, and the World Bank estimates that closing it could boost global GDP by $5 to $6 trillion. But that won’t be easy. By 2030, we’re projected to see 121 women living in poverty for every 100 men. This gap continues to grow because women are overrepresented in the industry’s most vulnerable to climate change, conflict and economic upheaval.
This is why advancing women’s financial inclusion isn’t just a development issue that needs to be addressed, it’s an opportunity to unlock economic possibilities.
Why women are being left behind
Oftentimes, women are the backbone of their families and communities, but in poverty-stricken regions, there are restraints on their ability to provide for their families and start or grow businesses. Even those who manage to start businesses lack the ability to scale them due to lack of resources. Furthermore, traditional lending models, with their demands for collateral, formal credit histories and rigid terms don’t reflect the realities these women live every day, making it difficult for them to access the capital needed to grow sustainable businesses.
These barriers worsen in countries where capital is scarce to begin with. For example, Africa receives only 1% of global venture capital investment — and an even smaller share reaches women founders, limiting the growth of businesses with the greatest potential to serve underserved communities.
Designing financial products around women’s realities
Real inclusion begins when we build financial products and systems around women’s actual lives, not assumptions about them. We have to put in the work to meet women where they are and understand what they need.
I’ve seen firsthand how women thrive when we invest in them, not just with loans, but with trust, education, and support. When we move away from one-size-fits-all solutions and instead offer tools that fit the realities of women’s lives, the results are transformative. Women not only improve their livelihoods but also build resilience for their communities and create new opportunities for the next generation.
In Uganda, I’ve watched these changes unfold through FINCA’s work. With support from the Gates Foundation, we’re developing new ways to get capital into the hands of women, from small loans for village savings groups to larger unsecured loans for those ready to take the next step. By the end of 2025, more than 1,200 women had received over $2.9 million in funding through our Women’s Enterprise Loan program. Each of these women has a story, a family, and a vision for what’s possible.
In just two years, the number of new women borrowers at FINCA Uganda rose by 47 percent, compared to 17 percent for men. Today, women make up nearly two-thirds of the institution’s loan portfolio growth. These numbers don’t just highlight demand; they show the massive economic potential when we remove barriers and invest in women’s success.
Innovation driving inclusion
But let’s be honest: access alone isn’t enough. Lasting change requires creativity, courage, and true partnership. It also requires people to step out of the comfort zone to try new things and learn from both successes and failures.
That’s why we’re building 361 by FINCA, a digital lending platform designed for the realities of microbusiness owners in Sub-Saharan Africa. It uses technology to offer fairer credit scoring and lending decisions, opening doors for entrepreneurs whom the traditional system has left out. Our goal is simple: to make finance work for people, not the other way around.
We’re also working with Harvard Business School researchers to understand, on a human level, what access to capital really does for women’s businesses, incomes, and well-being. By listening to women’s stories and collecting real evidence, we can help shape policies that make a difference.
The role of partnership
No single organization can close the gender financing gap. Meaningful progress only happens when governments, nonprofits, banks, researchers, and businesses come together with humility and a willingness to listen and learn.
Canada has a critical role to play in this. With support from Global Affairs Canada, we’re helping more young people access credit, learn new skills, and start their own businesses. These investments aren’t just numbers on a spreadsheet. They create new possibilities, strengthen families, and help entire communities stand tall in the face of uncertainty.
If there’s one lesson for nonprofit leaders, funders, and partners, it’s this: good intentions are only the beginning. Real impact comes from listening to the people we serve, understanding their hopes and struggles, and designing solutions together.
At its heart, advancing gender equality and financial inclusion is about dignity and belonging. It’s about making sure everyone, not just a privileged few, has the chance to shape their own future and build a life of purpose and pride.
Lindsay Wallace is the Executive Director of FINCA Canada. Lindsay focuses on building strategic partnerships to advance FINCA’s mission.
