KARACHI, November 19 2024: The Governor of the State Bank of Pakistan (SBP), Jameel Ahmad, stressed the critical importance of empowering women entrepreneurs, highlighting that they currently account for less than 10% of total borrowers and hold only 26% of bank accounts. The SBP organized Women Entrepreneurship Day on November 19, 2024, in Karachi, reaffirming its commitment to increasing women’s participation in the economy.
The event saw the participation of international and local partners, banks, civil society, and successful women entrepreneurs, all coming together to discuss ways to foster women’s economic empowerment.
In his keynote address, Ahmad emphasized the pivotal role that women-owned businesses play in driving innovation, economic growth, and community development. He acknowledged the barriers women face, such as limited access to finance, markets, and mentorship, but highlighted their remarkable successes in diverse sectors, including agriculture, technology, and manufacturing.
The Governor commended the efforts of banks in disbursing over PKR 24 billion to more than 20,000 women-led businesses from July 1, 2024, to November 10, 2024. He also noted that the SBP had reached over 1,500 women entrepreneurs through 50+ sessions to raise awareness about available financing opportunities.
Ahmad urged financial institutions to adopt innovative and inclusive strategies, calling on them to partner with organizations such as UN Women and USAID to expand access for women entrepreneurs.
The event concluded with awards recognizing outstanding women entrepreneurs and banks for their contributions to advancing women’s economic participation. Ahmad expressed hope that these trailblazers would inspire future generations and reaffirmed SBP’s dedication to creating a financial ecosystem that empowers women.
