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‘Women facing financial exclusion’

LINDA NYONDO, Lusaka
WOMEN in Zambia are said to be experiencing greater financial exclusion than men at all income levels, the Focus Paper of 2016 says.
The Focus Paper states that of 2016, Zambian women, including those in urban and rural areas are financially-disadvantaged.
“Women in particular are excluded from formal financial services and are much more, they opt to use informal services.
Women continue to access informal financial services even when formal services are achieved,’ the report stated.
The Focus report further stated that poor rural women are mostly excluded from the population in terms of financial services.
The statement states that rural women are the ones who need financial services the most because that is the only way they can generate income for their households.
The report states that women in general, have low financial capability and empowerment than men in areas of decision-making, seeking advice, and record keeping or tracking of cash flow.
Access to financial services can further be constrained by rules such as demands for proof of identity and addresses, or regulation to prove the same, or by a lack of knowledge/ information about available services, and an inability to access a point of service.