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The Business Case for Investing in Women: Boosting Financial Inclusion and Economic Growth

[Subheadline:] “New report highlights the importance of gender-inclusive financial services, citing significant returns on investment”

Unlocking Opportunities for Women’s Economic Empowerment

A new report from the United Nations Capital Development Fund (UNCDF) has made a compelling case for investing in women’s economic empowerment, highlighting the substantial returns on investment that can be achieved through gender-inclusive financial services. The report, “Investing in Women: The Business Case for Financial Inclusion,” notes that despite progress in recent years, significant barriers remain to women’s access to financial services.

Why Investing in Women Makes Sense

Improved Lives and Bottom Line Benefits

By providing gender-inclusive financial services, financial institutions can not only improve women’s lives but also reap significant benefits for their bottom line. The report highlights several key findings:

  • Women are more likely to use financial services that are tailored to their needs, leading to increased financial inclusion and stability.
  • Gender-inclusive financial services can lead to significant increases in household income, particularly among low-income households.
  • Investing in women’s economic empowerment can have a positive impact on broader development outcomes, including poverty reduction and improved health and education.

Strategies for Achieving Benefits

To achieve these benefits, the report recommends several key strategies:

  • Collect and analyze data on customers’ profiles, existing or possible risks, gender gaps, and financial trends to better understand their needs.
  • Adopt a holistic approach to financial inclusion, leveraging financial health approaches to achieve better and more sustainable impact on the population.
  • Build meaningful partnerships with regulators, the private sector, and civil society organizations to ensure consumer voices are heard and represented.

Report Highlights Importance of Demand-Side Data

The report was developed by UNCDF’s Tanzania Inclusive Digital Economies (T-IDE) project, funded by the European Union under its Digital4Tanzania (D4T) Programme. The project aims to increase access to and usage of digital payments and digital financial services in Tanzania, while enabling the innovation ecosystem to better support entrepreneurs and further drive digital innovation.

Conclusion

The report concludes by emphasizing the need for continued investment in women’s economic empowerment and gender-inclusive financial services to achieve a more digitally inclusive and sustainable society. By prioritizing gender inclusion, we can drive economic growth, reduce poverty, and improve lives.