Women’s Financial Inclusion is Key to Promoting Equality

We live in a world where women, especially in developing countries, face formidable obstacles to achieve financial independence. Many of them only own the jewelry they wear and some money under the mattress, with no insurance. They represent 55 percent of all adults with no bank accounts, despite recent increases in the number of people with bank accounts across the globe.

According to the latest findings of the Global Findex report by the World Bank Group, more than 1 billion women still do not use or have access to the financial system.

Elsewhere, the International Finance Corporation (IFC) estimates there is a $300 billion gap in financing for formal, women-owned small businesses. Besides, more than 70 percent of women-owned small and medium enterprises cannot access financial services properly.

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Image credit: MetLife Foundation

Corporate Social Responsibility writer for Justmeans, Antonio Pasolini is a journalist based in Brazil who writes about alternative energy, green living and sustainability. Besides Just Means, he contributes articles on emerging technology to Gizmag. He is also a happy herbivore.