Promoting Women’s Access to Financial Services in Zambia – A Case Study
Bridging the gender gap in financial inclusion has recently become a policy priority among financial sector policy makers in developing and emerging economies. Yet this focus on women’s financial inclusion is not new. Since 2012, the GIZ has advocated for greater financial inclusion of women. Taking a regional perspective, GIZ commissioned a policy brief in 2012 titled Advancing African Women’s Financial Inclusion setting out recommendations for policy makers and regulators on how to foster African women’s access to financial services. The Bank of Zambia (BoZ) has drawn on the recommendations in the policy brief along with the country’s Financial Sector Development Plan (FSDP) and its 2012 – 2015 Strategic Plan to champion women’s financial inclusion. In turn the BoZ has introduced several initiatives focusing on facilitating access to financial services for women. This case study sets out key developments to promote women’s access to financial services in Zambia. Further, it argues that more concrete actions are still required on both the demand and supply sides to achieve the ultimate goal of full financial inclusion of women in the country.