Momentus Global: Advancing Gender Equality through National Financing Strategies in Namibia
Momentus Global is a women-owned and led global consulting firm based in Vancouver, Canada. We focus on strengthening the global development finance architecture by working with National, Regional and Multilateral Development Banks, Development Finance Institutions (DFIs), Export Credit Agencies, UN Agencies, philanthropy and governments. Our work aligns with outcomes around the UN Sustainable Development Goals (SDGs) and we have experience in gender lens investing and frameworks. We use our flagship Gender Mainstreaming Diagnostic Tool (GMDT) specifically designed for development banks, including ways to improve and accelerate gender mainstreaming.
Gender-Responsive Integrated National Financing Strategy (INFS) for the Government of the Republic of Namibia
On behalf of the United Nations Development Program (UNDP), Momentus Global worked with Namibia to create an INFS as an integral part of Namibia’s Integrated National Financing Framework (INFF). INFF is designed to enhance the national planning process and address financing challenges related to the Sustainable Development Goal’s (SDG) priorities. In Namibia’s case, this included inclusive sustainable development by providing guidance on integrating national gender equality objectives. The strategy assessed and recommended available domestic and international financing sources, encompassing both public and private finance.
By applying a gender lens, considerations made during the national planning, budgeting and resource allocation processes can support the achievement of gender equality objectives; resulting in more inclusive financial policies and economic development goals that increase women’s participation in the economy. The INFS emphasizes the crucial role DFIs play in enhancing women’s economic empowerment through improved access to finance for women-owned micro, small, and medium enterprises (MSMEs). National DFIs including the Agricultural Bank of Namibia, Development Bank of Namibia, Environmental Investment Fund of Namibia, and the National Housing Enterprise, were engaged during the assignment.
Consultations provided insights for brief internal and external gender assessments of each DFI. Overall, it was found that financial institutions (including commercial banks and alternative investment funds) have a limited percentage of women-owned businesses in their portfolios.
Results, challenges and lessons learned
The INFS calls for DFIs to prioritize institutional gender strengthening, enhancing their capacity, products and services to better serve women-owned MSMEs. The strategy also encourages exploring gender and social bonds, sustainability funds, and collaboration with development partners as additional sources of finance to empower women. The ability to promote and advance women’s economic empowerment is key and though desired, is not often reflected in policy and programs. The financial sector has limited understanding of its role in addressing gender equality and the resulting positive impact on a country’s national economy. Promoting continuous awareness and targeted institutional capacity building is crucial for DFIs to adopt a gender lens investing approach and attract additional investment.
Since completing the assignment, one of the DFIs has received technical assistance for institutional gender strengthening.
For more information contact Georgina Liswaniso: gliswaniso@momentus.global
September, 2024
This publication is made possible by CAFIID’s Gender Lens Investing Community of Practice
