Worldwide, International Women’s day is celebrated on the 8th of March with a global theme to celebrate the social, cultural, economic and political achievements of women. This year’s(2024) theme was #inspireinclusion to create a better and more inclusive world for women. Like any other yearly event, International Women’s Day comes and goes, but the struggle for gender equality persists. All over the world, there is bias and discrimination towards women in terms of rights, access and inclusion. In particular, it’s concerning that women from all walks of life, who make approximately 50% of the world’s population, still have to make very conscious efforts to create constant awareness in order to feel valued and celebrated.
As a society, especially in Africa, we must move beyond symbolic gestures and work towards tangible, sustainable change to enhance women empowerment and for women to feel honoured for their contributions to the society. At HerVest, we’re pioneering inclusive finance for the African woman, 365 days a year. In this post, we’ll explore the challenges women face, our commitment to inclusivity, and the impact we’re making.
The Gender Finance Gap in Africa
The fintech industry in Africa has made tremendous strides, but gender disparity remains a significant obstacle. There is a $42 billion financing gap for African women-owned small and medium-sized enterprises (SMEs) but ironically, Africa is also home to the highest percentage of women entrepreneurs in the world. African women face numerous barriers in accessing affordable financing, including:
- Limited access to funding and credit
- Social and cultural biases to women’s needs
- Lack of representation in leadership positions
- Non-availability of collateral
- Limited financial literacy and education
These challenges hinder women’s economic empowerment, perpetuating the gender finance gap.
HerVest’s Commitment to Inclusivity
At HerVest, we believe that financial inclusion is a fundamental right for everyone, especially women. Our mission is to improve women’s lives through greater access to and use of financial services. We are working to bridge the financial gap by providing:
- Targeted savings and investment opportunities
- Impact investments in women-led SMEs
- Access to credit financing for smallholder women farmers
We’re dedicated to creating a supportive ecosystem where African women can thrive. Our team is composed of passionate individuals who understand the implications of gender inequality and are committed to driving change.
Impact and Success Stories from HerVestars
Over the past three years, we have worked so hard to ensure that we have financial equality for women and we are glad that our efforts are yielding remarkable results so far.
- Over 40,000 women have accessed our savings and investment programs
- We have impacted over 8,000 women farmers across 6 states in Nigeria (Plateau, Benue, Niger, Kaduna, Kwara and Oyo States) through input financing and linkage to premium markets.
- Women now have access to personal and business loans on HerVest through loan.hervest.ng
- Through our impact investment program, we have created access to low-risk investment opportunities to grow money.
Meet Grace Jung (aka Mama Potato), a smallholder farmer in Jos, who increased her yields and income through our input financing. She believes that HerVest is just like a dream come true. Her story is a testament to what women can achieve when given the economic support to aid their businesses.
Beyond International Women’s Day
International Women’s Day is an amazing day to raise awareness on gender equality and to remove bias for women but beyond that, we must understand that gender equality is an ongoing struggle and we believe everyone should be interested in providing a solution, directly or indirectly. At HerVest, we are committed to addressing the gender finance gap, 365 days of the year. We believe that we can unlock prosperity for African women by pioneering inclusive finance for every woman in Africa. We are committed to:
- providing savings & investment opportunities to women in order to grow their money.
- collaborating with like-minded organizations to intensify our impact.
- providing input financing for smallholder women farmers.
- giving access to low-interest personal & business loans.
Join Us in the Journey
As stated earlier, International Women’s Day has come and gone for this year (2024) but our commitment, as a company, to balancing the gender financial gap remains. Bridging the gender finance gap is a collective responsibility. We invite you to partner with us in our mission to empower women in Africa. Together, we can create a more inclusive and prosperous society for all.
Join us on this journey of shaping a brighter future for women and communities in Africa. Download the HerVest mobile app to join over 40,000 women who are saving and investing their way to financial freedom.
Would you like to join a community of amazing women at HerVest? Look no further, we’ve got your back! Click here to get started.
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