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FFD4 side event: Financial inclusion for entrepreneurship development - bridging the formal-informal divide

FFD4 side event: Financial inclusion for entrepreneurship development - bridging the formal-informal divide

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FFD4 side event: Financial inclusion for entrepreneurship development - bridging the formal-informal divide
Meeting Date
3 julio 2025
10:30 - 12:00 hrs. Side Event 11, FIBES Conference and Exhibition Centre
Location
Sevilla, España
Body

Access to finance remains a critical barrier for entrepreneurs, particularly in developing countries where informality is prevalent, affecting in some regions over 70 per cent of total employment and hindering their economic growth and development. While digital solutions and innovative financial instruments are expanding, significant gaps persist in reaching informal businesses and vulnerable entrepreneurs, who are less resilient to economic turmoil and less likely to benefit from government support. 

This side event explores policy frameworks and practical solutions to enhance financial inclusion while sustaining the gradual transition to formality. It also covers best practices in mobilizing innovative financing sources and instruments, recognizing the different comparative advantages, risks and incentives associated with public and private finance.

Objective

To identify concrete policy recommendations and innovative financial solutions that can enhance access to finance for entrepreneurs, including those in the informal economy, while promoting sustainable business practices and gradual formalization, by presenting case studies from varied geographies. A broader access to more reliable financing can substantially benefit developing countries and promote more stable and secure economic environments. 

Drawing on UNCTAD’s expertise in inclusive economic policymaking and IOE’s global network of employers’ organizations and policy advocacy, the event aims to bridge global policy dialogue with enterprise-level realities, highlighting actionable solutions for more inclusive and resilient entrepreneurship.

Key Topics

  • Policy frameworks supporting the formal-informal transition Innovation in financial products and delivery mechanisms for underserved entrepreneurs
  • Role of public and private finance in supporting entrepreneurial ecosystems
  • Digital financial solutions and FinTech for informal business inclusion
  • Financial education and capacity building
  • Gender- youth and vulnerable groups-responsive financial inclusion strategies
Bob Rae
President
Economic and Social Council (ECOSOC)

His Excellency Bob Rae was elected the President of the 2025 session (July 2024 to July 2025) of the Economic and Social Council on 25 July 2024. 

He is currently the Ambassador and Permanent Representative of Canada to the United Nations. Before his appointment by the Government of Canada, Mr. Rae served as Canada’s special envoy on humanitarian and refugee issues, continuing the important work that he began in 2017 as Canada’s special envoy to Myanmar while also addressing other pressing humanitarian and refugee issues around the world.

The former premier of Ontario and former interim leader of the Liberal Party of Canada, Mr. Rae was elected 11 times to federal and provincial parliaments between 1978 and 2013. He stepped down as a member of Parliament in 2013 to return to legal practice and, in particular, to work with Indigenous communities and continue his work in education, governance and human rights. His passion for social justice dates back to his early days in student politics and community service.

Before his appointment as Permanent Representative, Mr. Rae was senior counsel at Olthuis Kleer Townshend LLP. In addition to his legal practice, he taught at the University of Toronto in the School of Public Policy and Governance, in the Faculty of Law and at Massey College and Victoria University, and he was a fellow of the Forum of Federations, Massey College and the Raoul Wallenberg Centre for Human Rights. He has also worked as a mediator and arbitrator with ADR Chambers. A former partner at Goodmans LLP, Mr. Rae led the restructuring of the Canadian Red Cross and the Toronto Symphony Orchestra and chaired the board of the Royal Conservatory of Music. He is the author of 5 books and a number of government reports.

Mr. Rae is a privy councillor, a companion of the Order of Canada and a member of the Order of Ontario and has numerous awards and honorary degrees from institutions in Canada and around the world. He received his Honours Bachelor of Arts degree in Modern History from the University of Toronto and a Master of Philosophy degree as a Rhodes Scholar at Oxford University, and graduated from the University of Toronto Faculty of Law. 
 

Nan Li Collins
Director, Division on Investment and Enterprise
UN Trade and Development

Nan has over 25 years’ experience in strategic management roles both with the United Nations and the private sector across Asia, Africa, North America and Europe. She currently leads a global team in investment and sustainable finance research, policy, investment promotion and facilitation, enterprise development, and technical assistance to governments in over 160 countries. She chairs the Governing Board of the UN Sustainable Stock Exchanges Initiative, leads the World Investment Forum and the inter-governmental Working Group on International Standards of Accounting and Reporting.

Before joining UNCTAD, she served as the Global Director of Sustainable Investments and Innovation at UNOPS, where she led a team to promote infrastructure investments in many developing countries and co-invest with DFIs and private investors. She served as UNOPS focal point in the UN Inter-agency Task Force on Financing for Development.

Previously, she served as the Head of UNDP SDG Innovative Finance and as Head of South-South Cooperation and Investment at UNDP's Asia Pacific Center in Bangkok. She led a team to engage public and private investors and developed national policy dialogues and networks on SDG investment, piloted SDG-aligned funds, bonds and projects in multiple countries. She helped to position UNDP as a pioneer in the UN on sustainable investment and innovative finance. She also held positions as Policy Specialist in Capacity Development and Public-Private Partnerships in New York and Johannesburg since 2009, overseeing a regional portfolio in Eastern and Southern Africa.

Before joining UNDP, she spent about 10 years in the private sector in China and the USA, covering market entry and investment strategy, merger and acquisition, business development and sustainability. She holds a master’s degree in business administration from Hong Kong University of Science and Technology, and participated in the Executive Leadership program at IESE, and Finance Executive program at Tsinghua University.

Akustina Morni
Director of Policy
International Organisation of Employers (IOE)

Akustina Morni is Director of Policy at the International Organisation of Employers (IOE), which hosts the secretariat of the Employers‘ Group to the International Labour Organization (ILO) and active in other international fora. Her portfolio of expertise includes education, skills development, gender equality, diversity, future of work and employment. Akustina has over 20 years of experience in international diplomacy, attained from her tenure as a diplomat in charge of labour and human rights issues at the Permanent Mission of Brunei Darussalam to the United Nations in Geneva, research officer at the Brunei Ministry of Foreign Affairs and Trade, and as a junior technical officer at the ILO. Prior to joining the IOE, she was the programme focal point at the United Nations Institute for Training and Research and admin officer at the Australian Department of Justice. She has a Masters Degree in Public Policy (Brunei) and a Business Degree with a double major in management and marketing (Australia).

Valérie Schmitt
Deputy Director, Social Protection Department
International Labour Organization (ILO)

Valérie Schmitt is Deputy Director of the Social Protection Department at the International Labour Organization in Geneva. She also leads the ILO Flagship Programme on Building Social Protection Floors for All, and coordinates the implementation of the UN Global Accelerator on Jobs and Social Protection for Just Transitions.

Ms. Schmitt holds a Master of Advanced Studies (first year of doctoral studies programme) in quantitative economics from Paris Sciences Economiques (Laboratoire du Delta) and a Master of Business Administration with honours from HEC (Europe's highest ranked MBA programme by the Financial Times). She also holds a bachelor’s degree in philosophy from the University of Paris IV – La Sorbonne.

Ms. Schmitt joined the ILO in 2003. She has 27 years of increasingly responsible professional experience in the field of social protection, combining both headquarters and field responsibilities in different types of organizations: ILO headquarters, the ILO in Africa and Asia, a consulting firm in France, and an NGO in West Africa.

Megan O'Neill
Senior Program Manager, UN & International Organizations
Microsoft

Megan O’Neill is a senior program manager in Microsoft’s UN and International Organizations team in New York City. In this role she leads the development and implementation of programs and policy engagement at the intersection of digital technologies and sustainable economic development. She advocates for multi-stakeholder solutions and leveraging technology at the UN to help solve global challenges. Megan came to Microsoft with experiences in the U.S. Senate in Senator Chris Coons’ office, the private sector in the Office of Corporate Engagement at Goldman Sachs, in multilateral institutions in the Secretariat’s UN75 initiative, and at the UN Foundation. Megan holds an MPA in international security policy from Columbia University’s School of International and Public Affairs (SIPA) and a BA in economics and international relations from the University of Delaware.

Nancy Chenard
Secretargy General
Unicongo (Union Patronale et Interprofessionnelles du Congo)

Nancy Chenard est une professionnelle expérimentée cumulant plus de 15 ans d’expertise dans le management opérationnel, la stratégie commerciale et la gouvernance. Actuellement Secrétaire Générale d’UNICONGO, elle joue un rôle central dans la représentation du secteur privé auprès des pouvoirs publics, des institutions internationales et des partenaires au développement.

Titulaire d’un Master en Économie et Développement Industriel, Nancy excelle dans la coordination d’équipes, le plaidoyer stratégique et la gestion organisationnelle. Elle est également membre du Conseil d’administration de l’Organisation Internationale du Travail (OIT), où elle porte la voix des employeurs d’Afrique centrale sur des enjeux globaux liés au travail, à la migration économique et à la transition productive.

Engagée dans la promotion du dialogue public-privé, le développement des compétences locales et l’amélioration de l’environnement des affaires au Congo, elle participe à plusieurs initiatives structurantes, notamment le Think Tank CAPI (Central Africa Prosperity Initiative), le programme Basi Na Biso (un réseau de mentorat féminin dédié au leadership et à l’inclusion économique des femmes), et le Réseau des Femmes Leaders Africaines (AWLN - African Women Leaders Network), où elle est référente nationale du pilier Inclusion financière.

Son sens du leadership, son esprit fédérateur et sa rigueur font d’elle une actrice incontournable du développement économique et institutionnel en République du Congo.

Nicholas Kamanzi
CEO and Co-founder
SocialPay

Nicholas Kamanzi is a serial entrepreneur and fintech innovator with a proven track record of launching and scaling transformative digital solutions across Africa. As the CEO and Co-founder of SocialPay, he is dedicated to expanding financial inclusion in Uganda’s rural communities by leveraging new technology. Previously, he played a key role in expanding Wave Mobile Money in Uganda, securing regulatory approvals and spearheading market entry. His leadership at SafeBoda reshaped the company’s payment systems, enhancing financial access during critical times. Kamanzi also co-founded PayNext, a fintech marketplace for SMEs, and Yoza Tech, a platform connecting single mothers to work. With a background in computer engineering from Busitema University, he is passionate about leveraging technology to uplift underserved communities. A Mandela Washington Fellow, Mr. Kamanzi remains committed to reducing poverty by expanding access to financial services and economic opportunities in urban Uganda.

Amadou Sako
Adviser
International Organisation of Employers (IOE)

Amadou Sako takes up his role at IOE already familiar with the organisation as a laureate of the 3rd edition of the organisation’s Global Young Employers’ Academy. He was also a member and adviser on youth engagement and skills development at Le Conseil National du Patronat Guinéen (CNPG), the Guinean employers’ organisation.

Amadou is an experienced professional with a strong entrepreneurial background and 15 years of international experience (Canada, France and West Africa) in business development, stakeholder management and corporate affairs. He was President of the Guinean Young Professionals’ Club, a non-governmental organisation of young Guinean entrepreneurs actively involved in debates related to the development of a sustainable and responsible private sector in Guinea.

He co-founded a corporate affairs and corporate event management agency based in Guinea and has collaborated with several renowned multinationals companies and institutions such as the World Bank, the United Nations Development Program and the European Union.

His educational background includes a bachelor’s degree with a major in communications from the University of Montreal and a Sales Management Certificate from HEC Montreal Business School.

Co-organizadore(s):
International Organisation of Employers (IOE)

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