Impact of Gender Disparities and Financial Inclusion on Savings Culture: The Role of Women’s Wealth in South Africa

Purpose: This study investigates the role of gender gaps and financial inclusion in shaping savings culture, with women’s wealth examined as a moderating factor. Design/Methodology/Approach: Using secondary data from the World Bank database, the study draws on a large population sample covering key financial indicators related to gender, savings behaviour, and economic inclusion. Multiple regression techniques were employed to analyse the relationships between financial inclusion, women’s wealth, and savings culture. Findings: The results reveal that financial inclusion exerts a statistically positive but marginally significant effect on savings culture. Women’s wealth, in contrast, demonstrates a statistically significant and strong influence on savings behaviour, though it has no direct effect on savings culture. These findings suggest that other factor, such as employment opportunities, education, and financial literacy, likely shape savings culture more directly. Implications/Originality/Value: The study highlights the critical importance of enhancing women’s financial resources and implementing inclusive financial policies to strengthen savings culture. It recommends that the South African government, financial institutions, and development agencies expand targeted financial literacy programs for women, ensuring broad access to financial knowledge and empowerment. Coupled with inclusive financial policies and wealth-building opportunities, such efforts are essential for promoting long-term economic stability and improved savings culture.