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
Governor Soludo’s Solution Innovation District Earns Prestigious Global Recognition at Beijing Innovation Forums
Report by ORJI ISRAEL


The Anambra State Government, under the visionary leadership of Prof Chukwuma Charles Soludo, as governor, has powerfully positioned the state as a leading hub for innovation in Africa, following a series of impactful presentations, engagements and a prestigious award win at two major international forums in Beijing.
Ms. Chinwe Okoli, special adviser to the Governor on Innovation and Business Incubation, represented the state at both the Triple Helix Association & CASSSP Innovation Summit and the International Association of Science Parks (IASP) 42nd World Conference held in Beijing, China this September.
Her engagements culminated in the Solution Innovation District (SID) – the flagship project of the Soludo administration – being named among the top 3 winners at the conference’s prestigious IASP Inspiring Solutions Awards 2025, a definitive validation of its transformative model.
From Global Theory to Award-Winning Local Practice
At the Triple Helix Summit, Ms. Okoli’s presentation, “The Anambra Story – From Theory to Transformation,” detailed how Governor Soludo’s vision is being executed through the Triple Helix model, strategically aligning government, academia, and industry. She showcased the SID as a practical, homegrown application of global best practices, already delivering impressive outcomes:
- 80,000+ citizens trained in various digital skills, building a future-proof workforce and talent for technology development.
- Dozens of new startups launched, catalyzing a new creative and digital economy.
- Over $2 Million in ecosystem investment secured, demonstrating early international investment confidence.
Building on this momentum at the 42nd IASP World Conference, Ms. Okoli delivered a presentation titled “Bridging Continents Through Innovation: SID and the Power of International Collaboration.”
She detailed Governor Soludo’s strategy of using the SID as a gateway for global partnerships, emphasizing that tackling Africa’s digital growth and youth unemployment requires cross-border cooperation. This theme set the stage for a monumental endorsement of the Anambra model.
The IASP Inspiring Solutions Award, announced during the conference’s Gala Dinner, specifically recognized the “Anambra Digital Tribe” and its ambitious goal to train one million youths, celebrating it as a “transformational, inspiring, and impactful blueprint for building a sustainable, homegrown innovation economy”
“This award is a powerful testament to Governor Soludo’s foresight and firm commitment,” said Ms. Okoli. “His strategic investments in technology infrastructure and youth empowerment have proven that emerging economies can not only participate in but excel on the global innovation stage. Our message in Beijing was clear: Anambra is building global bridges for talent, technology, and capital, and this award confirms that the world is taking notice. Anambra is open for business and ripe for strategic investment.”
A Compelling Case for Investors and Global Partners
The back-to-back presentations in Beijing highlighted key investor-friendly attributes of the Anambra ecosystem, driven by the Governor’s policies:
A Clear, Government-Backed Vision: Anambra is the first subnational government in Nigeria to fully invest in a dedicated innovation district, turning the historic Old Government House into a 13.7-hectare hub- designed to have AI labs, robotics centers, office spaces, residences and advanced research facilities. Opportunity for investment at the district-real estate development, technology infrastructure, R&D etc are now open.
Proven Partnerships: The state has already secured collaborations with global giants like the UNDP, Meta, Microsoft, Connekt Broadband, Circum Technologies etc signposting opportunity for future partners.
Massive Talent Pipeline: The “1 Million Anambra Digital Tribe” initiative directly addresses the talent needs of the global digital economy, creating a deep pool of skilled developers, creatives, and tech entrepreneurs.
Strategic Positioning: With Africa’s digital economy projected to surge from $180 billion to $712 billion by 2050, Anambra is positioning itself as a strategic gateway and a model for market growth.
This one-two punch of influential speaking engagements and a competitive international award proves that the “Anambra Model” is not just a local initiative but a globally relevant ecosystem. It affirms to every young innovator in Anambra that their ideas have global relevance and assures international investors that the state, under Governor Soludo’s leadership, is a credible and high-potential destination for partnership and growth.
The Solution Innovation District(SID) is the flagship project of the Anambra State Government, envisioned by the Governor, Prof Chukwuma Charles Soludo, to serve as the epicenter for technology, creativity, and entrepreneurship in Southeastern Nigeria. It is designed to catalyze economic transformation through strategic partnerships, world-class infrastructure, and massive human capital development. Opportunity for investment in real estate at the district, technology infrastructure, R&D etc are now open.
GRTech
Sophos Releases State of Ransomware in Education report
97% Data Recovery in Schools Shows Progress against Ransomware, But IT Burnout Grows – Sophos


Sophos, a global leader and innovator of advanced security solutions for defeating cyberattacks, has released its fifth annual Sophos State of Ransomware in Education report.
Sophos, a global leader and innovator of advanced security solutions for defeating cyberattacks, has released its fifth annual Sophos State of Ransomware in Education report.
The global study of 441 IT and cybersecurity leaders shows the education sector is making measurable progress in defending against ransomware, with fewer ransom payments, dramatically reduced costs, and faster recovery rates.
Yet, these gains are accompanied by mounting pressures on IT teams, who report widespread stress, burnout, and career disruptions following attacks – nearly 40% of respondents reported dealing with anxiety.
Over the past five years, ransomware has emerged as one of the most pressing threats to education, with attacks becoming a daily occurrence. Primary and secondary institutions are seen by cybercriminals as “soft targets”, often underfunded, understaffed, and holding highly sensitive data.
The consequences are severe: disrupted learning, strained budgets, and growing fears over student and staff privacy. Without stronger defenses, schools risk not only losing vital resources but also the trust of the communities they serve.
Indicators of Success against Ransomware
The new Sophos study demonstrates that the education sector is getting better at reacting and responding to ransomware, forcing cybercriminals to evolve their approach.
Trending data from the Sophos study reveals an increase in attacks where adversaries attempt to extort money without encrypting data.
Unfortunately, paying the ransom remains part of the solution for about half of all victims.
However, the payment values are dropping significantly, and for those who have experienced data encryption in ransomware attacks, 97% were able to recover data in some way. The study found several key indicators of success against ransomware in education:
• Stopping More Attacks: When it comes to blocking attacks before files can be encrypted, both lower and higher education institutions reported their highest success rate in four years (67% and 38% of attacks, respectively)
• Following the Money: In the last year, ransom demands fell 73% (an average drop of $2.83M), while average payments dropped from $6M to $800K in lower education and from $4M to $463K in higher education.
• Plummeting Cost of Recovery: Outside of ransom payments, average recovery costs dropped 77% in higher education and 39% in lower education. Despite this success, lower education reported the highest recovery bill across all industries surveyed.
Gaps Still Need to be Addressed
While the education sector has made progress in limiting the impact of ransomware, serious gaps remain. In the Sophos study, 64% of victims reported missing or ineffective protection solutions; 66% cited a lack of people (either expertise or capacity) to stop attacks; and 67% admitted to having security gaps. These risks highlight the critical need for schools to focus on prevention, as cybercriminals develop new techniques, including AI-powered attacks.
Highlights from the study that shed light on the gaps that still need to be addressed include:
• AI-powered threats: Lower education institutions reported that 22% of ransomware attacks had origins in phishing. With AI enabling more convincing emails, voice scams, and even deepfakes, schools risk becoming test grounds for emerging tactics.
• High-value data: Higher education institutions, custodians of AI research and large language model datasets, remain a prime target, with exploited vulnerabilities (35%) and security gaps the provider was not aware of (45%) as leading weaknesses that were exploited by adversaries.
• Human toll: Every institution with encrypted data reported impacts on IT staff. Over one in four staff members took leave after an attack, nearly 40% reported heightened stress, and more than one-third felt guilt they could not prevent the breach.
“Ransomware attacks on schools are among the most disruptive and brazen crimes,” said Alexandra Rose, Director, CTU Threat Research, Sophos. “It’s encouraging to see schools getting better at responding and recovering, but the real opportunity is to stop attacks before they start. Prevention, backed by strong incident response planning and collaboration with trusted public and private partners, is essential as adversaries adopt new tactics, including AI-driven threats.”
Holding on to the Gains
Based on its work protecting thousands of educational institutions, Sophos experts recommend several steps to maintain momentum and prepare for evolving threats:
• Focus on Prevention: The dramatic success of lower education in stopping ransomware attacks before encryption offers a blueprint for broader public sector organizations. Organizations need to couple their detection and response efforts with preventing attacks before they compromise the organization.
• Secure Funding: Explore new avenues such as the U.S. Federal Communications Commission’s E-Rate subsidies to strengthen networks and firewalls, and the UK’s National Cyber Security Centre initiatives, including its free cyber defence service for schools, to boost overall protection. These resources help schools both prevent and withstand attacks.
• Unify Strategies: Educational institutions should adopt coordinated approaches across sprawling IT estates to close visibility gaps and reduce risks before adversaries can exploit them.
• Relieve Staff Burden: Ransomware takes a heavy toll on IT teams. Schools can reduce pressure and extend their capabilities by partnering with trusted providers for managed detection and response (MDR) and other around-the-clock expertise.
• Strengthen Response: Even with stronger prevention, schools must be prepared to respond when incidents occur. They can recover more quickly by building robust incident response plans, running simulations to prepare for real-world scenarios, and enhancing readiness with 24/7/365 services like MDR.
Data for the State of Ransomware in Education 2025 report comes from a vendor-agnostic survey of 441 IT and cybersecurity leaders – 243 from lower education and 198 from higher education institutions hit by ransomware in the past year.
The organizations surveyed ranged from 100 – 5,000 employees and across 17 countries.
The survey was conducted between January and March 2025, and respondents were asked about their experience of ransomware over the previous 12 months.
Download the State of Ransomware in Education 2025 report on Sophos.com.
GRTech
Sophos Endpoint Now Integrated with Taegis MDR and XDR Strengthening Cybersecurity ROI


Sophos, a global leader of innovative security solutions for defeating cyberattacks, today announced that Sophos Endpoint is now natively integrated and automatically included in all Taegis Extended Detection and Response (XDR) and Taegis Managed Detection and Response (MDR) subscriptions.
This milestone gives customers immediate access to combined prevention, detection, and response capabilities in a single platform, while lowering costs and simplifying operations.
The integration follows Sophos’ acquisition of Secureworks in February 2025 and represents a major milestone in combining the companies’ strengths to help customers defeat cyberattacks with a higher ROI.
Endpoint protection remains one of the most critical layers of defense against today’s cyberthreats, delivering both frontline prevention and vital telemetry for detection and response.
With Sophos Endpoint included in all new and existing Taegis XDR and MDR subscriptions, customers can benefit from unmatched ransomware defenses and adversary mitigation capabilities that automatically deploy in the event of an attack.
The integration enables organizations to strengthen protection while lowering licensing costs, reduce management overhead through native integration, and accelerate threat mitigation with expanded response actions.
Taegis remains a fully open platform, ensuring customers continue to receive full value from their existing cybersecurity investments and maintain the freedom to use the endpoint protection solution of their choice.
This ensures that customers maximize ROI while allowing room in their budget for other cybersecurity priorities.
“Integrating Sophos Endpoint with Taegis delivers a best-in-class unified protection, detection, investigation, and response platform – while also reducing customer costs,” said Raja Patel, chief product officer at Sophos. “Too many organizations still treat endpoint protection like a commodity, and that’s exactly the mistake attackers are counting on. The reality is, not all endpoint products are built to stop today’s hands-on-keyboard attacks. Sophos Endpoint’s prevention-first capabilities, like CryptoGuard anti-ransomware protection and Adaptive Attack Protection, shut down attacks before they can escalate, which is a true game changer for enterprises managing thousands of devices. And by simplifying deployment and policy management, we’re helping organizations stay ahead of threats, lower their total cost of ownership, and maximize the return on their security investments.”
Key benefits for Taegis customers include:
- Lower costs and improved ROI: Sophos Endpoint is now automatically included with all Taegis XDR and Taegis MDR subscriptions, eliminating the need to purchase a separate endpoint security solution.
- Vendor choice preserved: Taegis remains an open platform, allowing organizations to continue using their preferred endpoint solution.
- Industry-leading protection: A 16-time leader in the Gartner® Magic Quadrant™ for Endpoint Protection Platforms, Sophos Endpoint provides unmatched defense against ransomware and other advanced threats, with features such as CryptoGuard and Adaptive Attack Protection, accessible directly from the Taegis console.
- Workflow continuity: Telemetry and detections from Sophos Endpoint are ingested into the Taegis platform, allowing customers to retain existing detection and response workflows.
- Simplified management: Customers can download, install and manage Sophos Endpoint directly from Taegis.
To support a range of environments, customers can now choose between three deployment options for endpoint protection:
- Sophos Endpoint: Natively integrated for comprehensive prevention, detection, and response in a single agent.
- Non-Sophos native integrations: Telemetry ingestion ensures full visibility from products such as CrowdStrike, Microsoft Defender, SentinelOne and Carbon Black by Broadcom.
- Other non-Sophos endpoint security solutions: Supported through a detection only sensor deployment option.
“This integration expands the value and flexibility we deliver to customers and partners,” said Chris Bell, senior vice president of Global Channel, Alliances and Corporate Development at Sophos. “By including Sophos Endpoint in Taegis, organizations gain stronger protection, reduced costs and simplified operations. For partners, it creates new opportunities to help customers consolidate tools, drive renewals and expand enterprise relationships.”
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