The South African government has launched the Charlotte Maxeke Women’s Initiative on Economic Justice and Rights as part of its pledge to support gender equality.

President Cyril Ramaphosa made the announcement during the virtual Generation Equality Forum: Economic Justice and Rights Action Coalition this week in Paris where he led South Africa’s participation to highlight the country’s commitment to gender equality.

The Gender Equality Forum is a global gathering to accelerate gender equality actions and marks the twenty-fifth anniversary of the Beijing Declaration and Platform for Action. It was convened by UN Women: The United Nations Entity for Gender Equality and the Empowerment of Women and co-hosted by the governments of Mexico and France, in partnership with co-leaders from the global north and south, civil society and the private sector.

Inspired by one of the pioneers of women’s empowerment in South Africa, Ramaphosa said that the Charlotte Maxeke Women’s Initiative would involve collaborative projects to increase opportunities for women and girls in entrepreneurship, leadership and diplomacy.

“We are brought together in this forum by a shared determination that no woman should be denied the rights, opportunities and resources required for a secure, just and prosperous life. Through these efforts, through this Global Acceleration Plan, we are moving ever closer to realising our goal of economic justice and rights for women,” he said.

He added that interventions must dismantle systemic barriers that marginalise women and girls and perpetuate inequality in the global economy.

South Africa, he pointed out, was working to shift economic power into the hands of women through earmarking 40% of all public procurement for women-owned businesses.

“On the continent, we are working towards adopting a Protocol and Programme of Action on Women in Trade to promote the participation of women in the African Continental Free Trade Area. We are working to ensure access to productive resources through financial inclusion,” said Ramaphosa.

The lack of access to financial services and products, he noted, disproportionately affected poorer women working in the informal sector, those without income and those who were illiterate.

This increases vulnerability to economic shocks and can also increase exposure to gender-based violence.

Innovation in digital financial services in Africa offers an opportunity for rapid scale-up of financial services and products, he said.

The South African government is working with the Netherlands’ Queen Maxima and the UN Secretary-General’s Special Advocate on Financial Inclusion to commit to the establishment of the Advocacy Accelerator for Women’s Digital Financial Inclusion in Africa.

“This initiative will mobilise stakeholders to invest in new platforms and products to increase access to digital financial products and services for women in Africa,” Ramaphosa explained.