Gender differences on financial inclusion amongst households in Zimbabwe 2014
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Recently financial inclusion has become of great importance to the economy of Zimbabwe. Despite the empowerment programmes done for financial inclusion the gender gap is still wider amongst households. Most of the households in Zimbabwe are excluded from the financial sector. In general, males are more financially included than females, as measured by having an account with a financial institution, savings account, credit account, insurance and mobile banking. The largest positive contributor to the gender gap is income, implying that labour market exclusion is related to financial exclusion. This study looks at gender differences amongst households. Using secondary data drawn from 1686 observations in Zimbabwe by FinScope household Survey, Logit regression model was used for data analysis whilst poisson was used for robustness. Results show that the variables which are significant in explaining the variations are gender, income, financial literacy, documentation, education, whilst age and trust are not significant. A negative relationship was established between gender and financial inclusion meaning that women are less financially included than men. Recommendations were finally given that the government has to look into the lite accounts to encourage women to be financially included and reduce income inequality. The Government, mobile services providers, banks and financial institutions should seek to increase financial literacy to all households.