Progress Uneven Across the Continent

The rapid expansion of mobile money, agency banking, and digital platforms has brought millions of previously unbanked Africans into the formal financial system. World Bank figures show that bank account ownership more than doubled across sub-Saharan Africa between 2011 and 2025.

Persistent Gender Disparity

Despite this progress, a significant gap remains: women are less likely than men to have bank accounts, access credit, or utilize savings products. The gender gap has actually widened from 7% in 2011 to 12% last year, suggesting that financial inclusion efforts haven’t reached women equally.

Regional Variations and Cultural Factors

The disparity is most pronounced in North and West Africa, where countries like Togo and Nigeria show gaps of 25% and 22%, respectively. Traditional practices often favor men controlling household finances, land ownership, and major assets—trends that persist despite some cultural shifts.

Structural Barriers to Access

Legacy banking systems historically prioritize salaried customers with predictable income and collateral requirements—characteristics less common among women in informal sectors or rural areas. Even when legal frameworks guarantee equal rights, customs often dictate unequal access to land ownership and registration.

Reimagining Financial Products

Banks need to redesign products around the realities of women’s lives: flexible documentation, mobile-friendly processes, and lending models that recognize informal income streams—all crucial steps toward truly inclusive financial systems.