Financial inclusion for South African women enterpreneurs: a key for inclusive development
Tinuade Adekunbi Ojo (University of Pretoria)
Paper short abstract:
Th study explores financial inclusion as an integral tool for poverty eradication, inclusive development which bridge the inequality gap between the male and female gender in South Africa.
Paper long abstract:
Despite South Africa's socio- economic and financial systems has benefited many women and increase financial independent women and entrepreneurs, however the knowledge of financial freedom in terms of long term investments that gives substantiated capital returns and mitigate risks continue to be a challenge amongst the female gender. Increasingly, South African women are earning their short-term income and heading households, but they are not as engaged as they should be in their long-term planning, such as retirement and investments, which they leave to their partners to settle. The inability to engage in long term investments creates helplessness in determining the standard of life, and compounds vulnerability when conflict or natural disaster strikes. According to Visa's 2013 international barometer of women financial literacy, South Africans women were rated and ranked amongst the least financially literate in the world. The ranking for South African women was 23 out of 27 nations sampled for the collection. In light of the above explanation, there is a need to create an awareness on the issue of savings and investments to create a sustainable environment for the female gender. Currently the country has defaulted, and the women continues to be subjected to abject poverty, inequality and insecurity amongst the gender phenomenon. This study relates the empowerment of investment on South African women as a weapon for accomplishing inclusive development and alleviating feminization of poverty in South Africa.
- Inclusive development?