Women in Eswatini make up only 24 percent of the country’s employed population, while a mere 48 percent of women are banked. Deeply rooted socio-cultural norms are the biggest culprit. Many women are still economically dependent on their husbands and don’t own any fixed assets.

“Women make up almost 50% of the country’s population, they are significant contributors to economic activity, explains Central Bank Deputy Governor, Felicia Dlamini-Kunene. “While financial inclusion is cross-cutting, the challenges are more pronounced for women.”

But this is changing. New initiatives like FINCLUDE – the Financial Inclusion and Cluster Development Project –  are helping women get easier access to finance by sidestepping collateral. Working with local banks and microfinance institutions, the project facilitates loans for women who have savings or proof of an income.

Launched in 2018 by the Ministry of Finance’s Center for Financial Inclusion, FINCLUDE also brings smallholder farmers with similar commodities together to form clusters. By pooling their product, women farmers can gather enough commodity to qualify for bigger markets – expanding their buyer base and increasing their profit.

The project has supported over 2000 farmers with infrastructure, business skills and access to finance and it aims to benefit thousands more. It forms part of the strategies envisaged in the country’s broader Gender Inclusive Finance (GIF) Roadmap aimed at boosting women’s access to financial services.

You can learn about how other AFI members are working to financially include women on our website and meet the women farmers benefiting from Eswatini’s GIF policies in the video.