Gender bonds: A toolkit for the design and issuance of gender bonds in Africa

GENDERBONDS ATOOLKITFORTHEDESIGNANDISSUANCEOFGENDERBONDSINAFRICA PREPAREDBY: FSDAfrica Establishedin2012andsupportedbyUKaid,FSDAfricaisaspecialistdevelopmentagencyworkingtobuildandstrengthenfinancialmarketsacrosssub-SaharanAfrica.Itworkstoreducepovertythrougha‘marketsystemsdevelopment’approach,whichmeansitaimstoaddressthestructural,underlyingcausesofpovertybyimprovinghowfinancialmarketsystemsfunction. FSDAfricabelievesthatinvestinginbuildingafinancialsystemthatistransparent,stableandaccessiblecreatestheconditionsforafairandsustainablefuture,whereinequalityisreducedandcorruptionistackled,andwhereindividuals,businessesandgovernmentsalikeareabletoprepareforfuturechallenges,fromclimatechangetopoliticalinstability. FromFSDAfrica’sheadquartersinNairobi,itsteamoffinancialsectorexpertsworkalongsidegovernments,businessleaders,regulatorsandpolicymakerstodesignandbuildambitiousprogrammesthatmakefinancialmarketsworkbetterforeveryone.Dependingontheproject,FSDAfricacanprovideacombinationofgrants,investmentcapital,marketinsightsandtechnicalassistancetoensureitachievesitsobjectives. FSDAfrica’sworkfocusesonwheretheneedisgreatest,andwhereitbelievesthepotentialforimpactisthemostsignificant.Ithasaspecificmandatetoinvestinbreakthrough,innovativeideasthatcanhaveatransformativeimpact.Bysharingriskwithitspartners,FSDAfricaisabletoaddressmorediMcult,persistent,orhigher-riskchallenges,inmoreunstableorfragilegeographies,thantraditionaldevelopmentfinanceorganisations. FSDNetworkGenderCollaborativeProgramme(FSDNetworkGenderCoPro) BritishInternationalInvestment(BII) UNWomen TheFSDNetworkGenderCollaborativeProgrammeaimstoincorporategenderintotheoperationsofFinancialSectorDeepening(FSD)entitiesintheAfricanregion,andstrengthentheircapacitytoproducesystemicgenderimpacts.Inaddition,itisenhancingthegenderknowledgeandimplementationskillsofimportantmarketactors,suchasserviceprovidersandpolicymakers,inordertosustainsystemicchange. Togetherwithpartners,theprogrammeisstrivingtoremovethepolicy,regulatory,infrastructure,servicedeliveryandnorms-relatedchallengesthatimpedewomenfromfullybenefitingfromtheexpansionoffinancialaccessintheirrespectivecountries.TheFSDNetworkGenderCoProisfundedbytheBill&MelindaGatesFoundation. TheFSDNetworkisafamilyofFinancialSectorDeepeningprogrammesseekingtobuilddiverseandinclusivefinancialsystemsacrossAfricathatenhancefinancialresilienceandsustainablelivelihoodsforallinordertoenableinclusivegrowth. BIIistheUK’sdevelopmentfinanceinstitutionandimpactinvestorwithamissiontohelpsolvethebiggestglobaldevelopmentchallengesbyinvestingpatient,flexiblecapitaltosupportprivatesectorgrowthandinnovation.BIIinveststocreatemoreproductive,sustainableandinclusiveeconomiesinAfrica,AsiaandtheCaribbean,enablingpeopleinthosecountriestobuildbetterlivesforthemselvesandtheircommunities.GenderanddiversityisakeyareaoffocusforBII’sapproachtoinclusiveinvesting,withacommitmenttomobilisemorecapitaltointentionallysupportwomenandgirls. UNWomenistheUNorganisationdedicatedtogenderequalityandtheempowermentofwomen.Aglobalchampionforwomenandgirls,UNWomenwasestablishedtoaccelerateprogressonmeetingtheirneedsworldwide. UNWomensupportsUNMemberStatesastheysetglobalstandardsforachievinggenderequality.Itworkswithgovernmentsandcivilsocietytodesignlaws,policies,programmesandservicesneededtoensurethatthestandardsareeffectivelyimplementedandtrulybenefitwomenandgirlsworldwide.ItworksgloballytomakethevisionoftheSustainableDevelopmentGoalsarealityforwomenandgirlsandstandsbehindwomen’sequalparticipationinallaspectsoflife,focusingonfourstrategicprioritiesWomenlead,participateinandbenefitequallyfromgovernancesystems;Womenhaveincomesecurity,decentworkandeconomicautonomy;Allwomenandgirlslivealifefreefromallformsofviolence;Womenandgirlscontributetoandhavegreaterinfluenceinbuildingsustainablepeaceandresilience,andbenefitequallyfromthepreventionofnaturaldisastersandconflictsandhumanitarianaction.UNWomenalsocoordinatesandpromotestheUNsystem’sworkinadvancinggenderequality. AUTHORSANDACKNOWLEDGEMENTS Author:ParallelleFinance ParallelleFinanceprovidesresearch,analysisanddataonESGinvesting,withaprimaryfocusongenderlensinvesting.Parallellepublishesin-depthquarterlyreportsonwomenintheglobaleconomyandgender-focusedinvestments.TheParallelleteamhasbeenpublishedandquotedwidelyinthefinancialpressondiversity-centredinvesting,thewomen’seconomyandwomeninassetmanagement.Thefirmalsooffersananalysistoolforscoringpublicandprivateinvestmentportfolioswithagenderequalitylens.Parallelleconsultsongenderlensinvestingandofferstrainingsessionstofinancialservicesaudiencesoninvestingforequality.Thefirmalsoprovidesinvestmentandtransactionadvisoryservices. Acknowledgements TheToolkitanditsdisseminationaretheresultofcollaborationbetweenpartners(ProjectLeads): •FSDAfrica(MaryNjuguna) •FSDNetworkGenderCoPro(TolulopeBabajide) •BII(KatharineTengtioandJumaiHadizaMohammed) •UNWomen(VaninaVincensini) Thankyoutoallwhosharedexperiencesandinsightsthroughinterviewsandinteractionswiththeauthors. AfricanDevelop