Staff Writer
Insurance Institute of Zimbabwe (IIZ) president, Clementine Chinyuku has emerged as the top three winners of the Angaza awards Women to Watch in Banking, Finance and Investment for the year 2024.
The awards recognises expertise from women in the financial Sector Innovation Professionals in Banking, Capital Markets, Insurance, Fintech, Investment Banking and Fund Management, Microfinance, and Savings and Credit Cooperatives (SACCOs) and Public Sector .
Chinyuku this afternoon raised the Zimbabwean flag high together with
Zibuko Capital (Microfinance) Managing Director Nonceba Patsika.
Accepting the award, Chinyuku said the award had actually enhanced her professional trajectory urging other women in the sector to never give up.
“Over 20 years in the financial services industry, 20 years in insurance, and you start to think, well, who gets awards, and what is it that they’ve really done to be recognised? And you think you’re not one of those people. It’s someone who’s doing really amazing things, and yes.So it opened doors, many doors for me, actually, and then I’ve actually received three other awards for corporate governance, risk and compliance, outstanding insurance leader, all in 2024,” she said
Celebrating her first international award Patsika promised to take her influence beyondd the borders.
“And coming from a microfinance institution in Zimbabwe, I really felt motivated. And indeed, this award has spotlighted me and opened, like, great doors for me.Right now, I’m pleased to say that I’m going to be taking my influence beyond Africa. Right now, in America so it really is going to amplify my voice more beyond Africa boundaries,” she said
Giving her keynote address Vice President for Finance and Chief Financial Officer (CFO) of the African Development Bank Group Hassatou Diop N’Sele said the gap between economic participation and formal recognition is obvious.
“That gap is a
barrier that limits access to finance, suffocates growth, and perpetuates inequality. And that is where the real challenge lies.Because as finance professionals, we know all too well that the money is informality. It is in
structured investments, in credit histories, in business scaling. That is the bridge we must build.
So the question before us is simple. How do we transform our representation of women in the
informal sector, where we are the pillars of our economy, but are confined to micro-level
survival, into a powerful presence in the formal economy, where we not only survive, but
thrive?,” she asked
“Moreover, even in the formal sector, much needs to be done. Women entrepreneurs in
Africa still face a substantial funding gap, estimated at $49 billion.
Women receive less than 10 percent of venture capital, and a mere 5 percent of private equity
investment. As finance professionals, we know that this gap represents risk opportunities for
innovation as well. So addressing this funding gap is essential for ensuring equitable support and promoting inclusive growth.
So this is why our presence here matters, because we are the architects of financial pathways, the designers of economic inclusion, and the drivers of sustainable growth.”
N’sele added thar the solution that the women build together will determine the opportunities that women and girls will have tomorrow.
She said that was why supporting women, especially entrepreneurs, was not a matter of social good but a strategic imperative
and a powerful policy case for gender inclusion.
