Today we mark the International Women’s Day, when the world recognizes the achievements of women and the progress that still needs to be made. This year’s themes are The Gender Agenda: Gaining Momentum and the UN’s A promise is a promise: Time for action to end violence against women.
In Africa, the role of women in all aspects of life is critical, but not always acknowledged. While recognition of this role is changing, there is far to go. For example, fewer women provide for their families compared to their male counterparts hence making some people to believe that women are weak and that they have to depend on their husbands to be their sole provider in order for them to survive. In recent years, surprisingly the women have decided to take the role of the men in the society due to many men failing to provide for their families. Due to this, the women have become the backbone of the families in African communities by spending a big portion of their salaries on their families.
Women in Microfinance
Women have become very active in the microfinance sector because that is one of the main ways they can start small businesses. Of the around 4,200 loans currently repaying on the MYC4 platform, 60 % of the loans are funded to women from 4 East African countries. The ratio of loans funded to women and men illustrates to some extent that women have become more involved in the business world.
The women of East Africa have formed small groups and partnered with microfinance institutions to enable them get small loans to help them start small businesses or finance their already existing businesses. In previous years, women have had so many challenges with starting their businesses due to the mentality of our society. For the longest time women were expected to only stay at home and do home chores but all this has changed in recent years.
As we mark this big day of women achievement, we want to encourage the world to believe that women can be equally or more successful than men. It is important for all women to be afforded the same opportunities in life that are given to men. MYC4 takes pride in stating that we do not discriminate any gender when it comes to funding of loans because we believe all genders are equal and have equal right.