Impact Assessment Consultant on Financial Inclusion for Women Entreprenmeurs

Background:

Experience from YMCI’s previous program shows that women-led/owned micro and small businesses tend to have low access to financial services, with only 51% having an active bank account and using it in the last six months. YMCI learnt that although the financial inclusion and financial literacy rate for women in Indonesia has improved compared to the Global Findex 2017, women – who lead/own around 60% of MSMEs in Indonesia – still face challenges due to structural and behavioural factors to use the financial products and services from formal financial institutions. Gender-based barriers to financial inclusion arise from both the demand and supply sides. From the demand side, the most critical barriers are social norms that preclude women from owning property or being involved in financial decisions. From the supply side, barriers include lack of gender-specific policies and practices in product design, marketing, and distribution channels. Moreover, in terms of cultural limitations, women may face socio-cultural barriers in accessing services as empowered clients even when financial services are easily available or even mandated by the government. 

This program aims to empower women-led /owned micro and small businesses in Semarang, Surabaya, and Medan Cities by improving their access to bundled financial literacy and services, business development, and digitalization. The program will replicate YMCI’s multi-stakeholder partnership and bundled services approach in facilitating a comprehensive package that includes financial literacy, financial management, access to financial products and services, digital literacy and mentoring, and digital marketing for women-led/owned micro and small enterprises, to enable them to increase their businesses performance, increase sales, and expand their market. This program expectedly will create impact to their financial health that leads to bettering their well-being and their family. The program will also facilitate ecosystem learnings, knowledge exchange and foster collaboration between women led/owned MSEs engagement and within the broader Micro and Small Businesses, and other stakeholders through learning events.

For more details download attachment below