Women and Digital Financial Services in Sub-Saharan Africa: Understanding the Challenges and Harnessing the Opportunities (Field Note #10)

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Title
Women and Digital Financial Services in Sub-Saharan Africa: Understanding the Challenges and Harnessing the Opportunities (Field Note #10)
Author
Richard Chamboko; Soren Heitmann; Morne Van Der Westhuizen
Year
2018
Abstract
This Field Note provides a detailed examination of the persistent gender gap in digital financial services (DFS) across Sub-Saharan Africa, synthesizing data from several countries to identify key differences in usage patterns. The research highlights that while men use mobile money for frequent transactions like sending funds, women are significantly more likely to rely on DFS for receiving and safely storing value. Several structural barriers impede women's full participation, including limited ownership of mobile phones and internet connectivity, lower socio-economic status, and less access to general financial information. The study observes that women often gravitate towards informal financial services for both borrowing and saving, suggesting that formal providers must adapt successful features of these systems, such as flexibility and multipurpose utility. Ultimately, the authors urge financial service providers to invest in gender-lensed data analytics and simplify technology to create customized products that specifically address women’s distinct financial needs.
Resource Subject
  • Gender
Keywords/Access Points
Mobile Money; Digital Financial Services; Gender Gap; Sub-Saharan Africa
Geographic Locations
  • Africa
Language
  • English
Archival Record ID
MFA.2024.2509