Did you know that only 30% of women in Nigeria have an account with a formal financial institution, compared to 46.3% of men?
Leaving low-income women’s financial needs unfulfilled not only limits economic growth, but represents a missed business opportunity for financial services providers. Women’s World Banking research shows that although women tend to be savers, low-income women often face barriers in accessing safe places to save due to mobility and time constraints, as well as low levels of literacy. They are therefore forced to save in less reliable ways.
“We are aware that the future of financial inclusion is digital, and we aim to use this product to bring banking to everyone no matter your income, where you live or the type of mobile handset you are using.”
- Uzoma Dozie, CEO of Diamond Bank
Download this case study and find out:
- women's financial behavior unique to Nigeria
- barriers preventing low-income Nigerians from accessing formal financial services
- and how Diamond Bank is tailoring mobile offerings for low-income women
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