Business and Finance

ActionAid champions women, stakeholders against economic stagnation   

ActionAid on Wednesday held a national share-fair conference which brought together various national and international stakeholders to push for positive changes on national economic plater towards the livelihood of women in the global south.

The meeting was part of the collective efforts by ActionAid Malawi, Young Urban Women’s Network Malawi and Feminist Macro-Economic Alliance Malawi to advance feminist economic justice in the global south while targeting countries such as Malawi, South Africa, Nigeria, Kenya, Ghana as well as India.

Executive Director for ActionAid Malawi, Pamela Kuwali lamented the unequal distribution of opportunities among women as compared to men due to increased hostility measures and dominant dogmas such as the neoliberalism approach in managing economies among several African countries including Malawi.

With emphasis to the adverse conditions imposed by the international financial institutions when granting loans to governments, Kuwali further explained that a lot of African women are facing unprecedented calamities as a result of economic injustice which restrain them from economic growth.

Kuwali: Economic injustice victimize a lot of women

“Most of financial institutions put conditions to their loans which sometimes promotes economic regression that heavily affect women. For instance, reduction in the public service expenditures cannot only promote counter productivity but also imposition of punitive tax measures hence affecting women,” Kuwali said.

Economic Justice Advocate for Young Urban Women’s Network, Mayeso Mazengera, concurred with Kuwali citing hostility measures on economic plater which, she said, does not put into account what is really happening on the ground.

“A good example can be traced in this year’s fiscal budget. Despite us still trying to recover from COVID-19, Cholera, dry spells in Karonga and Tropical Cyclone Freddy, the proportional share of the budget to the health sector still leaves a lot to be desired and yet a lion’s share of the same is going to be used in repaying loans,” Mazengera explained.

Parliamentary Committee on Budget and Finance Chairperson, Gladys Ganda hailed the meeting saying it is an eye opener for the future fiscal planning gestures to both government and the committee.

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