Why Microfinance and Women?

Why Microfinance and Women? At the end of the 20th century and even at the dawn of our current millennium, to be born a girl in many parts of the world is to face a cruel double burden. She might have to grow up in a region beset by poverty, disease or war. She will also confront these challenges with the disadvantage of being female.

Although more attention is being given to gender issues, inequality persists in every culture, country and continent. For most part, being poor is synonymous with being female. Microfinance is a proven means of combating poverty by providing loans and savings to the poor. The access to basic financial services goes beyond the immediate increase in household income: it also empowers women by giving them more control over household assets, more autonomy and decision-making power and greater access to participation in public life. Women are more likely than men to spend their earnings on childrens health and education, thereby materially improving the familys wellbeing.

Jennifer Riria is founder and CEO of Kenya Women Finance Trust. KWFT is unique: it is the largest and only microfinance institution in Kenya exclusively for women. Click here to hear Riria speak about the reality of being born unwanted as the fourth girl, how she persevered and why she has dedicated her life to giving other women economic opportunity.n

Category:

Nonprofits & Activism

Tags:

• wwb
• women's
• world
• banking
• jennifer
• riria
• kwft
• kenya
• women
• finance
• trust
• 30th
• anniversary