Economically, the lack of inclusion and representation is vast. Currently, over 2.4 billion working-aged women are not afforded equal economic opportunities. The World Bank published a report explaining some of the factors that keep women from participating in the economy.
Barriers preventing the women’s participation in the economy include: legal, financial and cultural barriers.
Legal barriers
Legal discrimination continues to discourage women’s involvement in the economy. Some discriminatory laws omit women completely. In 7 countries, women are legally unable to work in specific fields. Other laws are subtler and enforce stipulations in how women work. In 16 countries, married women aren’t able to get a job without their husband’s permission. Additionally, in 44 countries women are legally unable to work at night. Without the equal opportunity to get involved in the economy, whole communities suffer.
In South Asia, women have only two-thirds of the legal rights of men in the region.
Financial barriers
Globally, women are not given the same financial rights as men. Women are more likely to experience issues with a lack of collateral and credit history. An estimated 1 billion women worldwide do not have their own bank account. Without equal financial rights, women aren’t as able to get involved in the economy.
Cultural barriers
Cultural barriers also discourage a women’s involvement in the economy. Traditional gender roles enforce a woman’s primary responsibility is to be at home. Strict gender roles can encourage families to give girls less education than boys. Powerful prejudices assuming that women cannot handle money, don’t pay back loans and spend money on themselves remain. Additionally, threats of gender-based violence further restrict movement outside of the home. Without pathways around these barriers, women will struggle to participate in the economy.
Awareness to Action
In a world steeped with inadequate representation, it is important to know in every instance when women are involved in the economy, it grows. Cultural prejudices that have restricted women’s involvement in the economy are false. According to the World Bank, women are more likely to pay back loans, save the money they earn and contribute it back into the community. Women are crucial to global prosperity and there is a clear call to invest in them with tools, knowledge and financial opportunities. Without paths around economic barriers, the global economy will continue to lack.
About Kairos Global Foundation
Kairos, means just the right moment or optimal time. Whether it’s addressing injustice or harnessing opportunities, we, as a movement of women, enter those crucial moments… and turn potential into transformation in a woman’s life.
The idea of ‘Kairos’ really hits home when thinking about women who stand to gain from opportunities such as education and microloans. Through support, we can open doors for women, doors that were once firmly shut. Harsh work environments and poverty are replaced by a better way of life for women and their families—true transformation. Get updates from the field with stories from women experiencing
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