Imagine a world where every woman has equal access to financial opportunities—where she can secure a loan to start a business, manage her money digitally, and invest in her future without systemic barriers holding her back. Unfortunately, this is not yet the reality. Despite making up nearly 50% of the global population, women still face unequal access to financial services, which limits their ability to own property, start businesses, and build wealth. According to Women’s World Banking, nearly 1 billion women worldwide remain excluded from formal financial systems (Banking, 2024).

But change is happening—thanks to gender champions and gender allies breaking these barriers and paving the way for equitable financial access. Gender champions are policymakers, corporate executives, activists, and financial innovators and leaders who not only support and implement policies that help women gain financial leverage but challenge practices that discriminate against women, advocate for economic reforms, and ensure that women have a seat at the table in banking, fintech and policymaking. They are backing the work from gender allies – all genders who support, uplift and partner with women to build stronger financial systems.

Allyship includes:

  • Men in leadership positions supporting policies that promote financial inclusion for women
  • Organisations increasing the number of women in finance and fintech management
  • Investors that support women-owned businesses and startups equally to those owned by men.

FinMark Trust: A gender champion in action

FinMark Trust is championing financial inclusion in Southern Africa to ensure women are not left behind. Our work seeks to understand women's barriers to accessing financial services and includes gender-sensitive considerations in financial policies and programmes.

Some of the important initiatives for women's empowerment that FinMark Trust focuses on include:

Southern African Development Community (SADC) Financial Inclusion Strategy

In collaboration with UN Women, FinMark Trust developed the SADC Policy on the Financial Inclusion of Women. This policy moves toward the larger mission of bringing women into the formal economy in 16 African countries. The programme allows financial institutions to understand women's needs better and easily provide them with loans, investments, and other financial services. Gaining insight into women's lives and finances is essential to developing realistic policy frameworks.

Using gender-disaggregated data for better policies

FinMark Trust knows that understanding women and their finances is vital for crafting realistic policy frameworks, which is why gender-specific data is collected through FinScope surveys to:

  • Reveal the gaps in financial exclusion for women.
  • Create investment and banking products that suit women’s needs.
  • Push those who create public policies to disburse money reserved for women in financial aid projects.

We can ensure that women are not inadequately served by ensuring policies respond to their specific circumstances due to data being organised in this way.

Capacity building and financial literacy for women

Unfortunately, financial literacy remains a luxury that many women do not have, which limits their potential for wealth and financial independence. This is where FinMark Trust’s Community Digitalisation project comes into play. Among others, the initiative aims to equip members of the community—particularly women—with knowledge and skills to navigate digital financial tools. It empowers them with practical experience to manage their finances better and make the most of digital solutions for a more inclusive and seamless financial experience.

Policy advocacy for gender-responsive financial systems in cross-border remittances

Policy advocacy for gender-sensitive finance systems forms part of FinMark Trust's effort to make policy work for women's economic growth. The diagnostic study on women’s roles in cross-border remittances in 2024 sparked conversations about making gender-neutral financial payments for women. These advocacy efforts aim to ensure these systems are not only open to women but actively support and empower them.

The study focused on women's roles in cross-border remittances within Southern Africa, specifically between South Africa, Malawi, Mozambique, and Zimbabwe. It emphasised women's unique challenges, such as limited access to financial services and gender-neutral policies. The research advocates for gender-sensitive financial inclusion, recommending targeted products, financial education, and improved data collection to support women’s financial agency. It calls for gender-intentional policies to empower women and create a more inclusive financial ecosystem in the region’s remittance market.

The road ahead: A call to action for gender champions and allies

While organisations like ours are making significant strides, women are still largely excluded from financial services.

We need:

  • More women advocates to promote policy reforms and financial products that benefit women.
  • More men in positions of power use their influence on behalf of women to seek financial justice.
  • The establishment of gender-neutral policies and systems in our financial institutions, whether banks, governments, or companies.

What can you do? Whatever your occupation – whether a policymaker or entrepreneur, business leader or banker, investor or investment manager – you are in a position to support this crucial cause. Support businesses run by women, seek equality of pay between the sexes and advocate equitable social policies so that women and men can each help carry the other's load. And finally, encourage those talented young women who follow you into economic life.

Every woman should be able to become economically independent. As I invite you to engage, consider an instinctive step you can take to help shape a more gender-responsive world. There is advocacy, sure, but let’s make it actionable—give every person equal access to the means to make it legally possible.

The future of financial inclusion is gender equity. And it starts with us.