In many parts of the world, women still have less access to financial services than their male counterparts according to data from the United Nations. In addition, more women than men have lost their jobs across the globe during the Covid-19 pandemic, further exacerbating the persistent financial inclusion gender gap.
Financial inclusion is pivotal in reducing poverty and boosting prosperity as it provides individuals and women-led businesses with access to easy-to-use, affordable financial services. Digital and mobile solutions can close financial inclusion gender gaps even faster as services like QR payments, WhatsApp payments, cross-border remittances, digital wallets, virtual cards, and more are immediate and can be integrated into one convenient platform – something Ukheshe’s Eclipse API makes possible.
Providing the opportunities needed to access financial services allows women to transact, save, invest, start their own businesses, further their studies and careers, and provide for their families. New and constantly evolving digital innovations promise to address some of the unique financial challenges faced by women. The cost of ignoring women’s financial inclusion is far too great for the economy and society. Ultimately, improving women’s livelihoods means building a more equitable and sustainable future for everyone, whether they live in developed or emerging economies.
Ukheshe believes that financially independent women can significantly impact their families, communities, societies, and local economies. By providing sustainable solutions and partnering up with like-minded entities, the financial inclusion of women is not only possible but necessary for creating sustainable prosperity in tomorrow’s digitally connected global economy.