In alignment with global initiatives from leading organisations such as the International Monetary Fund (IMF), and World Bank among others, Solape Akinpelu, the Chief Executive Officer and Co-Founder of HerVest, Nigeria’s leading fintech social enterprise dedicated to providing financial inclusion for women through a Gender Lens Investment (GLI) approach, has authored a book dedicated to providing learnings, opportunities and sustainable initiatives to help women build wealth that transcends generations.
The book, ‘Stripped: An African Woman’s Guide to Building Generational Wealth’, is an evidence-based body of work with practical and actionable steps for African women towards bridging the economic gender gap and building transgenerational wealth across the globe.
According to IMF data, in sub-Saharan Africa, only 37 per cent of women have a bank account, compared with 48 per cent of men, a gap that has only widened over the past several years. The figures are even worse in North Africa, where about two-thirds of the adult population remains unbanked and the gender gap for access to finance is 18 per cent, the largest in the world.
To bridge the widening gender gap, there is a need for sustainable solutions that helps in achieving the desired impact across sectors. To this end, ‘Stripped’ serves to answer the burning questions and allay the commonest fears that most African women have when it comes to managing their money and building wealth.
Speaking the launch of the book to financial experts and development stakeholders in Lagos, the author, Solape Akinpelu said; “In Africa, the gender gap in access to financial services is driven by women entrepreneurs’ self-perception. Such perception leaves many African women on the fringes of the financial sector—unable to save, borrow, or build capital. The book was written to inspire African women to move past their barriers and create wealth, to make a positive impact in their societies and the world at large that will transcend generations to come.”
She added that: “The issues hindering gender finance are hyper-connected. You simply cannot talk about gender issues without addressing the gap in tech, healthcare, maternal care, unpaid care, gender-based violence, women in the workplace and more. The economic gender gap we see today estimated at $42bn is the symptom of all off these connected issues. Stripped indeed provides answers and guidelines to passing on your wealth to loved ones, giving them a bright start. When you read the book, you are going to be inspired; be more action-oriented and we have built HerVest for you to activate that journey.”
In her remarks during the launch, the Managing Director/CEO, FSDH Merchant Bank, Bukola Smith said; “This book is a confidence booster for those who feel they know little about savings and investment. You are in for a journey of self-discovery and hopefully, self-actualisation.”
As we strive for more representation for women in Africa’s social and economic infrastructure, it is also essential we teach women and the next generation of female entrepreneurs, not just how to make money but how to build wealth.
