South Africa is a Regional Leader in the Financial Inclusion of Women

Friday, September 2, 2016

South Africa is the only country in the Southern African Development Community in which women are more financially included than men, new research shows.

According to a paper by the FinMark Trust, more South African women have bank accounts than men, with a positive gender gap of 6% between the two. Within SADC, a 6% gender gap in bank account ownership exists between men and women.

“The fact that more women than men are financially included in South Africa is mainly explicable based on more women are grant recipients – 42% of adult women are social grant recipients compared to only 13% of men. Our analysis of bank account owners, excluding those that own a South African Social Security Agency (SASSA) MasterCard, revealed a negative gender gap, [that is], lesser women than men are banked,” Dr Kingstone Mutsonziwa, co-author of the paper and head of information and research at the FinMark Trust, told Moneyweb.

Source: MSN (link opens in a new window)

financial inclusion, research