Rise in women taking loans annually

Why Tanzanian Women Lead in Digital Loans – Empowerment or Debt Trap? For the first time in Tanzania’s history, women now hold more digital loan accounts than men. 📊 According to fresh data from the Bank of Tanzania and Credit Reference Bureaus: Digital loan accounts jumped from 2.09M in 2022 to 9M in 2024. Women surged from 11.3M accounts to nearly 20M, overtaking men for the first time. In 2024 alone, women borrowed TZS 52B via digital channels, 67% of total lending. Why the surge? Women dominate the informal economy; food stalls, tailoring, agribusiness and all sectors needing quick, collateral-free capital. Digital loans, disbursed instantly into mobile money wallets, fit this reality perfectly. But here’s the twist 👇 While many women use these loans to grow small businesses, a significant share is also spent on social needs; beauty, shopping, weddings, baby showers, and other events that define community life. This duality reveals both empowerment and risk: ✔️ Access to credit strengthens women’s economic independence. ⚠️ Yet, ease of borrowing + high interest rates = rising debt stress, especially when loans fund consumption rather than investment. The bigger question is: Are we building resilience, or creating a new generation of debt-burdened households? My takeaway: Digital credit is here to stay. But without stronger consumer protection, transparent pricing, and financial literacy, what looks like empowerment today could quietly morph into tomorrow’s debt crisis. 💬 What do you think? should regulators tighten the rules, or should fintechs double down on educating borrowers? #loans

"An increasing number of Indian women are looking to pursue higher education overseas in the US, UK, Europe, Australia and elsewhere at a time when companies globally are pushing to improve female participation in the workforce. Besides that, they’re also able to take advantage of a greater number of dedicated scholarships and funding opportunities. Data from loan providers and education consultants show that nearly half the students applying for overseas courses and those seeking financial assistance to fund their studies are women from not just the big metro cities but also small towns. Education consultants have seen applications from female students jump from 20-30% (of the total number of aspirants) in FY21 to 40-45% in FY24. At the same time, financing companies have seen a consistent increase in female aspirants seeking education loans — up from 25-30% (of total loan demand) in FY21 to 35-45% in FY24. Trend Changing for STEM Courses “About 31% of applicants who applied for a loan with us were female applicants in the September 2022 intake,” said Akshay Chaturvedi, founder and CEO, Leverage.biz, which operates Fly.finance. “That number surged to a striking 40% in the recent September 2023 intake and we expect this female share of applicants to grow further this year.” That theme was echoed by Avanse Financial Services MD and CEO Amit Gainda. “During FY21, more than 30% of the students funded by Avanse were women,” he said. “This number increased to more than 33% during FY22 and remained range-bound in the following financial year. As of the year to date (in FY24), 34-36% of the students funded are female aspirants.” That apart, as of December FY24, nearly 45% of the students funded from the non-metro cities by Avanse were women, rising from 34% in FY21. Gainda said the number is expected to grow as more female students are embracing traditionally male-dominated fields such as science, technology, engineering and mathematics (STEM) courses. The trend is fuelled by greater awareness of global opportunities, aspirations for cross-cultural exposure, and the availability of scholarships that target female applicants. Study abroad consultant Collegify’s co-founder Rohan Ganeriwala said: “In recent years, we’ve seen a significant shift in study abroad demographics, particularly among women in the Collegify network. Historically, female applicants comprised 30-35% of the total. However, in the past two-three years, this figure has risen to 40-45%.” This surge reflects a growing interest among women from both metro areas and smaller towns in pursuing international education." Full report: https://lnkd.in/gf2tdBZ3

The Role of Women in India’s Development: Insights from Behold the Leviathan This week, I had the privilege of exploring Behold the Leviathan: The Unusual Rise of Modern India by Nandita Rajhansa and Saurabh Mukherjea. One fascinating theme stood out—the pivotal role women are playing in India’s economic transformation. Women: Reliable Borrowers, Transformative Leaders According to CRIF High Mark, women borrowers had a lower default rate of 1.9% compared to 2.5% for men in FY23. This trend highlights the financial discipline of women and their growing influence in the economic sphere. Women are increasingly being seen as safer bets by lenders, driving a surge in financial inclusion. Borrowing Growth: The number of women borrowers grew by 18% in 2023, surpassing men’s growth at 13%. Larger Loan Sizes: Women are now accessing bigger loans, reflecting their confidence and evolving financial needs. Wealth Shift: As Mukherjea notes, the shift in wealth from men to women mirrors global trends during economic booms in nations like the US and South Korea decades ago. Government initiatives such as Pradhan Mantri Jan Dhan Yojana and Mudra Yojana are enabling women to access credit and create financial independence. Rural women, in particular, are leveraging e-commerce to boost incomes and maintain timely repayments. What This Means for India’s Future Women are not just borrowers—they are economic enablers. Their growing role in India’s financial system is reshaping credit markets, creating a foundation for more inclusive and sustainable development. As this transformation unfolds, the financial sector has a unique opportunity to support women-driven growth. The results will benefit not just individuals but the nation as a whole. #WomenInFinance #IndiaRising #EconomicEmpowerment #Income inequality #GlobalEconomy #WealthDistribution vijitnair2010 #coaching #vijitnair #vijitnair2010 #bancassurance #lifeinsurance #success #podcast #marketing #innovation #leadership #motivationquote #mumbai #leadershipdevelopment #opportunity #mumbai #people #entrepreneurship #entrepreneur #digitalmarketing #growth #startup #entrepreneurs #strategy #startups #venturecapital #founders #WealthCreation #SmartInvesting #CAGR #InvestmentStrategy

A report from IndiaP2P shows that women are outpacing men in securing #credit year after year. In CY23 alone, the number of #female #borrowers with active loans jumped from 67 million to 78 million. This trend reflects a growing embrace of business initiatives and wealth generation among women. Interestingly, women are also harnessing digital platforms like online marketplaces, #WhatsApp, and social media for video #promotions to expand their enterprises. These strategies are proving essential in helping female entrepreneurs reach wider markets and fuel expansion. While India still ranks 122 out of 190 countries on the UNDP's Gender Inequality Index, these advancements in digital fluency among women are a promising step toward bridging the gender gap in economic activities. Women have even proven to be more #reliable borrowers than men, displaying higher diligence in loan #repayments, leading to an uptick in #loans awarded to women for business and entrepreneurial purposes. Despite the progress, half of women entrepreneurs still struggle to access formal financial credit, and 95% are unaware of government financial aids available to them. However, nearly 80% of women believe that bespoke financial programs could greatly simplify their entrepreneurial endeavors. #WomenInFinance #DigitalEmpowerment #GenderEquality #EntrepreneurialWomen #CreditAccess #FinancialInclusion #EmpowerHerBusiness #FintechForAll #ClosingTheGap #EconomicEmpowerment