GRTech
The Gender Gap in Financial Inclusion: How Fintech is Empowering Women in Africa
Article written by Oluwasekemi Akinbo


Tech doesn’t always mean software development, backend development or road maps with robotics.
Sometimes, tech is a financial organisation incorporating AI and smart technology systems to drive efficiency and inclusion in the financial sector.
In the past decade, Africa has witnessed a remarkable transformation in its financial landscape, primarily driven by the proliferation of financial technology companies.
This digital revolution has played a pivotal role in addressing the longstanding gender gap in financial inclusion, offering women unprecedented access to financial services, and a seat in the technology world.
Understanding the Existing Gender Gap in Financial Inclusion
Financial inclusion primarily refers to the access to, and use of formal financial services. However, in many African countries, women remain marginalised in this sector.
According to the World Bank’s 2021 Global Findex Database, only 48% women in Sub-Saharan Africa owned financial accounts, compared to 55% of men, indicating a gender gap of 7%.
One of the top factors contributing to this disparity is the prevalence of socio-cultural norms in rural parts of the continent.
According to the 2023 Access to Financial Services in Nigeria (A2F) survey, approximately 28.8 million Nigerians in the northern regions are excluded from the financial system, with women and rural residents being the most affected.
The survey also highlights that the gender gap in financial inclusion widened from 8% in 2020 to 9% in 2023.
This single survey gives us a glimpse into the existing traditional practices that may limit a woman’s right to opening an account, opening a trust fund, owning land, etc. Some restrictions even extend to movement, limiting a woman’s freedom to visit the bank to carry out transactions.
In countries like Cameroon, Nigeria, and Ethiopia, customary laws in certain regions restrict women’s access to land and other financial assets.
For instance, among the Beti people of Southern Cameroon, women cannot inherit land and are only granted food plots by their husbands.
These restrictions on assets could limit a woman’s opportunity to grow her business or invest in her dreams. Assets that she can sell or use to yield money are unavailable to her.
She is left to survive on the meagre amount her husband gives her to cater to the family needs. How, then, does she save enough to do her masters, start a business, or any other thing she has in mind?
Asides societal norms, there is also the issue of the technical requirements that come with traditional banking.
Rural residents in Africa usually cite the absence of necessary identification documents as a barrier to opening accounts. Women with limited education also face difficulties in accessing formal financial systems.
How Fintechs Bridge the Financial Gap in Africa
Fintechs have emerged as a transformative force, offering innovative solutions to bridge the financial inclusion gap in Africa.
Mobile money services, digital lending platforms, and online banking have become accessible alternatives to traditional banking, particularly for underserved populations. Here are some ways fintechs bridge the gender gap in africa:
Easy Access to Credit Services
The woman with no house, no land, or any other financial asset; the woman tossed aside by traditions, restrained from any form of inheritance simply because she is a woman, can now easily access loans and other credit services from fintechs. It doesn’t matter if she is uneducated or unemployed.
It doesn’t matter if she has no land to serve as a collateral; fintechs make it easy for all classes of people in Africa to get loans, invest, own a bank account, and enjoy other financial services.
The technicalities of traditional banking have been erased, as Fintechs leverage alternative data to assess creditworthiness.
Shecluded, a fintech company in Nigeria, focuses on providing financial services to women entrepreneurs, offering loans, savings plans, and financial literacy programs, thus enabling women to access capital for business expansion and personal development.
Kenya’s Tala is another example of a fintech company in Africa that has democratized credit access, empowering women to invest in businesses, education, and healthcare.
Your Bank in Your Pocket
Mobile money services have been at the forefront of fintech innovations in Africa, revolutionizing the way financial transactions are conducted.
These services allow users to store, send, and receive money using their mobile phones, eliminating the need to travel to the bank to make deposits or withdrawals.
As a result, women who are sick, pregnant, uneducated, restricted from moving around, etc., can still access all financial services because they have their banks in their pockets, thanks to fintechs.
The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19 indicates that the number of women owning financial accounts in Ghana increased from 54% in 2017 to over 63% in 2021. This increase was primarily driven by the introduction of mobile money accounts.


Other countries in Sub-Saharan Africa have also seen a rapid growth in the number of women and adults who own a bank account, following the introduction of mobile banking.


Driving Savings and Investment Among Women
Driving Savings and Investment Among Women
Fintechs like PiggyVest and ChipperCash encourage users to save by offering flexible savings plans and investment opportunities.
Women benefit from the user-friendly interface and financial management tools of these savings and investment platforms. Fintechs in this category contribute to driving financial literacy across Africa.
The accessibility and convenience encourage many women to manage and grow their finances.
The Effects of Financial Inclusion on Women’s Economic Empowerment
The integration of fintech into Africa’s financial ecosystem has yielded significant benefits for women, some of which include:
- Increased Financial Autonomy: Women now have greater control over their finances, enabling them to make independent decisions, and improving their financial literacy.
- Entrepreneurship Opportunities: Access to credit and savings platforms has empowered women to start and expand businesses. Female entrepreneurs are now more prevalent in Africa. From tailors to store owners and hairdressers, women are empowered to set up their brands, having the assurance of easy loans, deposits and withdrawals. The rise of more entrepreneurs also contributes to economic development and job creation on the continent.
- Improved Household Welfare: With better financial tools, women can invest in health, education, and nutrition, enhancing the overall well-being of their families.
Conclusion
Fintech has proven to be a powerful catalyst in narrowing the gender gap in financial inclusion across Africa, offering women access to essential financial services that were previously out of reach. By this, women in Africa are gaining financial autonomy, building businesses, and improving their household welfare.
Collaborative efforts between governments, fintech companies, and civil society are crucial to sustaining and improving this inclusive financial ecosystem that empower women.
As fintechs continue to reshape Africa’s financial landscape, ensuring that no woman is left behind will not only promote gender equality but also unlock the continent’s full economic potential.
GRTech
Samsung Expands Accessibility with Local Language Integration on Galaxy S25, A56, A36, and A26 Devices
By SANDRA ANI


Samsung Electronics has taken a bold step in enhancing user experience and inclusivity by introducing Hausa, Igbo, and Yoruba as official language options on selected Samsung Galaxy devices.
The feature, which is now available on the Galaxy S25, A56, A36, and A26 devices, reaffirms Samsung’s commitment to delivering innovative technology that speaks the language of its users.
With this groundbreaking update, Samsung users across Nigeria can now navigate their smartphones in their preferred local language, making technology more accessible, while also upholding our cultural heritage.
A Celebration of Culture and Technology
To mark the launch, Samsung hosted a cultural-themed press briefing featuring traditional music, local cuisine, and a showcase of the new language feature. Employees and guests attended in traditional Yoruba, Igbo, and Hausa attires, celebrating Nigeria’s rich cultural diversity.
Samsung also announced plans to expand local language support to more devices in the near future, reinforcing its dedication to making technology more inclusive for African users.
Empowering Users Through Language
The integration of Hausa, Igbo and Yoruba on Samsung devices reflects the brand’s mission to bridge the digital gap and enhance user engagement. Speaking at the press conference, Oge Maduagwu, Head of Marketing, Samsung Electronics West Africa, said, “At Samsung, we understand that technology is most powerful when it is accessible to all. By incorporating our local Nigerian languages, we are making our devices more intuitive and relatable, ensuring that millions of Nigerians can interact with their smartphones in the language they love and understand best”.
Seamless Language Transition on Galaxy Devices
Stephen Okwara, Head of Product Management, Samsung Electronics West Africa added, “The new local language feature is designed to deliver a seamless user experience, allowing customers to easily switch between languages. Users can activate Hausa, Igbo, or Yoruba on the Galaxy S25, A26, A36, and A56 by navigating to:
Settings > Language & Input > Select Language
“This update enhances smartphone usability, particularly for those who prefer their native language over English, ensuring greater digital inclusivity, enhancing digital literacy and encouraging more users to engage with technology in their native tongues”, he concluded.
Availability
Customers can visit all Samsung Experience Stores or authorized retailers in Nigeria to learn more and experience the feature firsthand.
TechNews
NITDA DG Inaugurates National Technical Working Group on Cloud Infrastructure
REPORTER: Sandra Ani


In a significant move to bolster Nigeria’s digital infrastructure, the National Information Technology Development Agency (NITDA) has inaugurated the Technical Working Group (TWG) on National Cloud Infrastructure.
This initiative aims to enhance local cloud capabilities, attract hyper-scale investments, and position Nigeria as a leading technology hub in Africa.
Speaking at the inauguration, NITDA’s Director-General, Kashifu Inuwa, CCIE, emphasised the need for accurate data and regulatory frameworks to support these initiatives, necessary for Nigeria to control its digital infrastructure, data, and technological future noting that,
“Without this foundation, we cannot achieve true digital sovereignty. Our goal is to build an ecosystem where both local data centre providers can scale, and global hyper-scalers see Nigeria as a viable investment destination.”
While identifying lack of accurate data on Nigeria’s IT infrastructure as significant challenge, Inuwa noted that while Africa comprises nearly 19% of the world’s population, it hosts less than 1% of global data centres.
“This disparity, coupled with limited insights into Nigeria’s existing IT capacity, hampers investment efforts and without clear data on our infrastructure, attracting investment becomes challenging,” he said.
The NITDA boss maintained that, to address this, NITDA commissioned comprehensive research to assess Nigeria’s digital landscape which findings have highlighted the need for improved regulatory frameworks, clearer investment incentives, and stronger public-private collaboration. He added that subsequently upon this, NITDA has engaged global consultants to redefine strategies for cloud development.
As the TWG embarks on its mission, NITDA urges industry experts, policymakers, and stakeholders to contribute their expertise and resources. “With collective effort, Nigeria can emerge as the premier digital hub for West and Central Africa,” Inuwa concluded.
While corroborating the Director General’s point of views, Acting Director of Regulation and Compliance, Barrister Emmanuel Edet, underscored the importance of regulatory intervention in fostering a robust digital economy.
“Our objective is to establish policies and legal frameworks that support cloud development, enabling us to securely host and manage our data. This is crucial for the growth of our digital economy, he said.”
He also highlights the necessity of capacity building, stating that, “Equipping ourselves with top-tier training and expertise is essential to fully leverage digital technologies.” Barrister Edet called on all stakeholders to actively participate in shaping Nigeria’s digital future.
“Collaboratively, we must develop a framework that reflects our national interests, and it should be widely accepted. This effort will define Nigeria’s role in the global digital arena, he observed.
The TWG will help in the drive to attract hyperscale investments and enhance local cloud capabilities by proffering measures to encourage the use of accurate data, recommend the enactment and compliance to enabling policies.
Members of the TWG which includes Google, AWS, IBM, Oracle, Microsoft, HUAWEI Cloud, Equinix, Kasi, Rack Centre, Africa Data Centres, several other data centre operators and the Nigeria Data Protection Commission expressed support and readiness to volunteer and contribute resources.


With Black Friday and Cyber Monday around the corner, we’re entering a high-risk period for cybersecurity.
A recent Sophos report highlights that malicious emails were the second most common root cause of ransomware attacks in critical sectors, responsible for 25% of cases.
During peak shopping days, this threat intensifies.
Here’s what happens: with the surge in online deals, more employees may be shopping from their work computers, feeling that Cyber Monday is a legitimate time to do so.
This increases the risk of them clicking more freely and potentially exposing the organization to malicious links or phishing attacks.
To keep your organization safe, encourage your team to follow these simple tips:
• Use an ad blocker – Advertisements are not only tracking your every movement and collecting enough information on your habits to make the FBI blush, but they are also a major source of malicious links and deceptive content on the internet. Not only is your browsing safer, but also faster and uses less bandwidth. Two of our favorites are uBlock Origin and Ghostery.
• Use private browsing or incognito mode – To prevent your shopping habits and interests from following you around from site to site (and potentially revealing what gifts you might be purchasing to others using your device, bonus!), you should enable private browsing (Firefox) or incognito mode (Chrome). This will block tracking cookies and help the internet forget your travels as the waves wash away your footprints in the sand.
• Make your browser “privacy smart” – The Electronic Frontier Foundation (EFF) provides a browser extension called Privacy Badger designed to automatically make all the right choices around browsing whilst maintaining our privacy and blocking invisible trackers.
• Avoid using one account on multiple services – When logging into an e-commerce site it is often tempting to use the “Sign in with Facebook” or “Sign in with Google” button. While it takes a few more minutes to create a new login, it will provide more privacy as you are not sharing all of the sites you shop at with these tech giants.
• Use guest login when available – In addition to letting you use an account from other websites, many have an option to use a guest login rather than creating a new account. This is a great option if you don’t expect to need technical support or to do business on a recurring basis. Fewer passwords, fewer personal details, fewer problems if they get hacked.
• Don’t save card details – Many e-commerce sites will default to storing your credit card information in your profile for your “convenience” (or their hope you’ll shop there again). They can’t lose what they don’t have, so tell them not to store your credit card unless it is absolutely necessary.
• Use temporary card numbers – Many financial institutions now offer temporary or one-time use credit card numbers. You can open the app on your phone or in your browser and get a single-use disposable credit card number preventing card fraud and tracking when merchants share card processors. Sometimes you’re even able to specify a card limit per temporary number to further protect your account.
• Use credit, not debit – All of us need to be wary of overspending during the holidays, but it is best to leave the debit card at home. Credit cards offer significantly more protection against online fraud, and you are in the power position in a dispute. You can simply not pay your bill while disputing the charge, rather than having criminals directly drain your bank account of your hard-earned cash.
• Beware of direct messages via social media/chat apps – With modern generative AI technology it is almost trivial to create an entire fake online store and lure people to share their personal information and payment data with you. It’s safest to shop at established sites or those personally recommended to you by friends and family. Many unsolicited messages lead to data collection or theft.
• Don’t click deals in email that look too good to be true or are from businesses you don’t have accounts from – these could be phishing emails hoping to bait you into clicking links to bogus, malicious web sites.
This season, small steps can make a big difference in protecting against cyber threats.