Zambia narrows financial inclusion gender gap

Feb 04, 2016

In 2015, the financial inclusion gender gap was 3.8 per cent compared to 6.9 per cent in 2009.

Tailored financial services for the unbanked and underserved will help reduce the financial inclusion gender gap, a Bank of Zambia (BoZ) representative said during the Financial Sector Deepening Zambia (FSDZ) conference in Lusaka on Tuesday (February 2nd).

"Research on women's access to financial services in Zambia have attributed the gender gap to factors such as cultural norms, low financial literacy, lack of collateral, legal barriers or discrimination against women and geographical constraints that limit access to financial services," said BoZ deputy governor Tukiya Mabula Kankasa, quoted by Times of Zambia.

She added that although the gender gap still persists - it is narrowing - mainly due to combined efforts from the BoZ and FSD Zambia, which was established two years ago to help women have an opportunity in finances.

"It is in this regard that BoZ is collaborating with Financial Sector Deepening Zambia. This has culminated into several initiatives, including in the area of digital financial services, credit market monitoring programme and research on women's access to financial services in Zambia," she said.

In 2015, the financial inclusion gender gap was 3.8 per cent compared to 6.9 per cent in 2009.ADNFCR-2976-ID-801811807-ADNFCR