How Do 1
Billion Unbanked Women Impact the World?
The world is more aware than ever before of gender inequality, and the negative effect it can have on every life it touches. When women are not supported, not only do individuals struggle, but the entire global economy also suffers.
Women make up 55% of the world’s unbanked population, meaning that they have no access to banking or insurance products. For many of these almost 1 billion women globally who have no access to financial services, it means that their money is not protected. They have no access to savings or checking accounts, insurance, credit facilities, and loans. They lack the ability to plan, grow, and protect their families.
Just as importantly, they lack the opportunity to develop their gifts and talents. How many Madam C.J. Walkers and Michelle Obamas have we missed out on? How many cures and inventions never come to fruition for a lack of education and support?
Graceline Family will strive to develop financial products and resources that develop financial empowerment, such as classes, presentations, and articles that will provide important knowledge and practical encouragement for all women. From the woman who flees home in the middle of the night without identification (lack of formal ID is one common barrier to accessing financial services) to the woman who shatters the glass ceiling in her chosen career, women need support.
God willing, our articles will look at financial planning, from a woman’s basic needs to the role that her mental health plays in wealth accumulation.
Did you know that only 3% of black women own homes? Graceline Community Newsletter will explore why in an upcoming edition. Keep reading our articles and visiting our pages—change is in the air!