Tag: gender pay gap

Credit has long had a bad reputation. For years, it has been associated with financial distress, risky decisions and debt traps. But South African women are rewriting that narrative. Through careful, deliberate borrowing, many are using credit as a tool for resilience – enabling education, covering unexpected emergencies and building a more financially secure future for their families.

As we have just celebrated International Women’s Day on 8 March, it is important to recognise that financial independence is a key pillar of gender equality. As such, it is essential for women to stay on track with prioritising their finances.

Despite great strides being made towards shaping a more diverse and equitable future for the world of investment, many women still underestimate their abilities. A growing body of research, however, suggests that women’s natural traits may in fact put them at a significant advantage compared to their male counterparts.

Gender inequality is still rampant throughout society and in the workplace, it can take on many forms -  disparity in promotions, unequal pay and less leadership roles. While this is often the case in big corporations and civil society, we should also be turning a lens towards the education sector, where gender inequality is even more pronounced.

It's 2022. We have electric cars, online shopping (and drones to deliver it), and artificial intelligence - fantastic. But why do we not see loads of women growing, thriving and revolutionising the world in this highly evolved environment?

About seven years ago, the United Nations introduced the concept of gender-aware economics and transformative financing. The idea is that funds and other investment vehicles become aware of what they are investing in, taking the time to consider different assets and businesses with a focus on financing women entrepreneurs.

Equal female representation in senior management and executive positions has been a longstanding area of focus within the corporate sector. We have long maintained that the first and most important step towards resolving the gender pay gap is equal gender representation within senior positions.

It is hard to deny there is still a gap between men and women, especially when it comes to finances. Yet, when it comes to investing, women, just by being themselves, have some advantages over their male counterparts. Some women may still experience the effects of the gender pay gap and slower career progress when compared to their male counterparts.

The gender pay gap is holding back African economies from unlocking their true potential. The impact of the COVID-19 pandemic has resulted in widespread job losses globally, disproportionately affecting women more than men. It is more urgent that ever to address the lack of gender equality on the African continent across all spheres of society.

When we think of gender inequality in the realm of money, the perennial pay gap springs to mind. It remains a problem. The 2020 Momentum/UNISA Household Financial Wellness Insights report estimates that, on average, women earn around 30% less than men in similar jobs in South Africa.