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Fiji - Women’s Financial Inclusion Significantly Improves Household Wellbeing

 

The wellbeing of a rural household can be quantifiably improved if only one person in that household attends financial literacy training and has a savings account. A significantly higher level of wellbeing is achieved when that person is a woman.

 

Conclusion from Financial Capability, Financial Competence and Wellbeing in Rural Fijian Households

 

                 Investing in Women Gives the Greatest Returns

 

Women accept the principal role in the management of household finances in rural Fijian households and are demonstrably more competent than men at managing household finances and at saving. Their role is pivotal to improving the wellbeing of their households. And yet, evidence from rural Fiji suggests that despite this, women have fewer opportunities to access the banking system and to participate in financial literacy training programs. Financial literacy and financial inclusion programs must emphasize the active participation of women to maximize impact. The study shows that investing in financial literacy training that is accessible and convenient to women gives the greatest returns to rural households. Specifically targeting women’s training coupled with interventions to increase women’s access to simple and affordable savings services should be an integral part of any financial inclusion strategy.

 

Financial Capability, Financial Competence and Wellbeing in Rural Fijian Households 

http://www.pfip.org/resources/uploads/attachments/documents/UNDP%20Financial%20Capability%20Low%20res%2012%2004%2010.pdf                                             Description: Description: Description: PFIP_logo_wave_colour_forweb-SMALL.pngDescription: Description: Description: PFIP_Donor_Logos.png