More often than not, talking about money is considered a taboo across different cultures in the world. From how much our colleagues earn to sitting down to discuss money with a romantic partner, it feels like we are pulling our teeth out.
Women in African countries are more likely to be self-employed than to engage in wage work, and are more likely to be entrepreneurs than men, according to this report by the World Bank. This shows that talking about money – how to save and invest it – is very important for women. With this data in mind, the World Bank estimates that 58% of women in Africa are self-employed. However, this high percentage does not translate to high percentages of women-owned, formally registered businesses. The Profiting from Parity World Bank report states that one of the causes of this is the smaller networks women have in the business world compared to men, but this is just one of many obstacles women in business face, so it is imperative that women are able to access financial information, including personal finance advice.