Women’s Access to Financial Services in Zambia
Commissioned by FSD Zambia, the Bank of Zambia and GIZ, but produced by New Faces New Voices, this qualitative study focuses on women’s usage of and behaviour towards financial services in Zambia.
To do this, the study examines:
- Usage (levels and trends)
- Sources of usage (formal, semi-formal and informal)
- Products used
- Regional differences
- Awareness, understanding and perceptions
- Drivers of, opportunities for and constraints to access
- Household dynamics
The report finds that women tend to use more financial services than men, and that formal access is relatively low. Low levels of income, financial literacy and confidence amongst women tend to be the main barriers to formal financial access. A culture of saving and good reputation with financial service providers represents an opportunity to extend access to women.
Within the household women tend to have more decision-making power over money from farming, commerce, and restaurants, whilst men tend to have more decision-making power over money from salaried work, construction, livestock and transport. Men also recognise that there are certain things that women do better, which leads to different patterns of financial service use.