{"id":174037,"date":"2025-08-21T08:55:33","date_gmt":"2025-08-21T08:55:33","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=174037"},"modified":"2025-08-22T08:08:22","modified_gmt":"2025-08-22T08:08:22","slug":"how-south-african-women-are-transforming-credit-into-a-tool-for-empowerment","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/how-south-african-women-are-transforming-credit-into-a-tool-for-empowerment\/","title":{"rendered":"How South African women are transforming credit into a tool for empowerment"},"content":{"rendered":"

This post<\/a> was originally published on this site<\/a><\/p>

<\/p>\n

Credit has long had a bad reputation. For years, it\u2019s been associated with financial distress, risky decisions, and debt traps. But South African women are rewriting that narrative. Through careful, deliberate borrowing, many are using credit as a tool for resilience \u2013 enabling education, covering unexpected emergencies, and building a more financially secure future for their families. <\/span>More than 50% of credit granted in South Africa today goes to women. <\/span><\/p>\n

This was not the case thirty or forty years ago. A woman working in a bank couldn\u2019t even apply for a home loan without her manager\u2019s approval. Thankfully, that\u2019s no longer the case. Today, credit access follows income and responsibility \u2013 not gender \u2013 and women have become a significant credit demographic.<\/span><\/p>\n

The country\u2019s persistent gender pay gap, compounded by often unequal caregiving responsibilities, has made access to credit critical for many women-led households. Stats SA\u2019s latest General Household Survey reveals that 42.4% of households in South Africa are headed by women. Meanwhile, the World Economic Forum\u2019s Global Gender Gap Report shows that women typically earn between 23% and 35% less than men.<\/span><\/p>\n

For these women \u2013 many of whom manage their household on a single income \u2013 credit is not a crutch, but a vital tool to help navigate life\u2019s pressures. <\/span><\/p>\n

Responsible vs. irresponsible credit use<\/strong><\/p>\n

Responsible credit isn\u2019t about borrowing for the sake of it. It\u2019s a strategic tool to improve the long-term trajectory of one\u2019s life. When used wisely, credit can create sustainable value \u2013 better education, safer living conditions, a more stable future. But that starts with understanding your own affordability and only taking on debt you know you can repay.<\/span><\/p>\n

Irresponsible credit, by contrast, often funds non-essential spending: travel, superficial lifestyle upgrades, or luxury items. Credit should never be used to finance a life you can\u2019t afford. Save for that bucket-list trip if it\u2019s beyond your means. That\u2019s when people get into trouble \u2013 and the bad reputation follows.<\/span><\/p>\n

Technology, accessibility, and changing consumer expectations<\/strong><\/p>\n

Technology has played a pivotal role in making credit more accessible. Consumers now expect to apply, engage, and manage their loans online \u2013 often without any face-to-face contact.. In response to this, we\u2019re working with TymeBank to develop a joint venture focused on responsible lending through unassisted digital channels. The partnership has received Competition Commission approval but is still subject to final regulatory sign-off.<\/span><\/p>\n

That said, not everyone is ready to go it alone. While many people prefer a quick digital journey, others still want help. We will offer both options \u2013 assisted and unassisted \u2013 so customers can engage in the way that suits them.<\/span><\/p>\n

In an environment like this, consumers need more than just access; they need guidance on how and when to use credit \u2013 and when not to.<\/span><\/p>\n

Here are four credit tips:<\/span><\/p>\n

1. Use credit to improve your life:<\/strong> Borrow for education, healthcare, or other investments that offer long-term benefits or when the need is urgent.<\/span><\/p>\n

2. Don\u2019t borrow for luxury expenses<\/strong>:<\/strong> Whether it\u2019s your dream holiday or a much-needed pamper session \u2013 if you can\u2019t afford it, don\u2019t borrow for it, save for it.<\/span><\/p>\n

3. Know your limits:<\/strong> Only take on what you know you can realistically repay, even if you’re offered more.<\/span><\/p>\n

4. Take ownership of your financial decisions:<\/strong> Just because a lender approves you doesn\u2019t mean the credit is right for you. Make the decision based on your own situation, not what\u2019s on offer.<\/span><\/p>\n

Being a responsible lender isn\u2019t enough if consumers are using credit irresponsibly. But when both sides get it right, the outcome can be life-changing, especially in households where every rand counts.<\/span><\/p>\n

* Griesel is the CEO of Sanlam Credit Partnerships.<\/em><\/p>\n

PERSONAL FINANCE<\/strong><\/p>","protected":false},"excerpt":{"rendered":"

Credit has long had a bad reputation. For years, it\u2019s been associated with financial distress, risky decisions, and debt traps. But South African women are rewriting that narrative. Through careful, deliberate borrowing, many are using credit as a tool for resilience \u2013 enabling education, covering unexpected emergencies, and building a more financially secure future for their families. More than 50% of credit granted in South Africa today goes to women. This was not the case thirty or forty years ago. A woman working in a bank couldn\u2019t even apply for a home loan without her manager\u2019s approval. Thankfully, that\u2019s no longer the case. Today, credit access follows income and responsibility \u2013 not gender \u2013 and women have become a significant credit demographic.The country\u2019s persistent gender pay gap, compounded by often unequal caregiving responsibilities, has made access to credit critical for many women-led households. Stats SA\u2019s latest General Household Survey reveals that 42.4% of households in South Africa are headed by women. Meanwhile, the World Economic Forum\u2019s Global Gender Gap Report shows that women typically earn between 23% and 35% less than men.For these women \u2013 many of whom manage their household on a single income \u2013 credit is not a crutch, but a vital tool to help navigate life\u2019s pressures. Responsible vs. irresponsible credit useResponsible credit isn\u2019t about borrowing for the sake of it. It\u2019s a strategic tool to improve the long-term trajectory of one\u2019s life. When used wisely, credit can create sustainable value \u2013 better education, safer living conditions, a more stable future. But that starts with understanding your own affordability and only taking on debt you know you can repay.Irresponsible credit, by contrast, often funds non-essential spending: travel, superficial lifestyle upgrades, or luxury items. Credit should never be used to finance a life you can\u2019t afford. Save for that bucket-list trip if it\u2019s beyond your means. That\u2019s when people get into trouble \u2013 and the bad reputation follows.Technology, accessibility, and changing consumer expectationsTechnology has played a pivotal role in making credit more accessible. Consumers now expect to apply, engage, and manage their loans online \u2013 often without any face-to-face contact.. In response to this, we\u2019re working with TymeBank to develop a joint venture focused on responsible lending through unassisted digital channels. The partnership has received Competition Commission approval but is still subject to final regulatory sign-off.That said, not everyone is ready to go it alone. While many people prefer a quick digital journey, others still want help. We will offer both options \u2013 assisted and unassisted \u2013 so customers can engage in the way that suits them.In an environment like this, consumers need more than just access; they need guidance on how and when to use credit \u2013 and when not to.Here are four credit tips:1. Use credit to improve your life: Borrow for education, healthcare, or other investments that offer long-term benefits or when the need is urgent.2. Don\u2019t borrow for luxury expenses: Whether it\u2019s your dream holiday or a much-needed pamper session \u2013 if you can\u2019t afford it, don\u2019t borrow for it, save for it.3. Know your limits: Only take on what you know you can realistically repay, even if you’re offered more.4. Take ownership of your financial decisions: Just because a lender approves you doesn\u2019t mean the credit is right for you. Make the decision based on your own situation, not what\u2019s on offer.Being a responsible lender isn\u2019t enough if consumers are using credit irresponsibly. But when both sides get it right, the outcome can be life-changing, especially in households where every rand counts.* Griesel is the CEO of Sanlam Credit Partnerships.PERSONAL FINANCE<\/p>","protected":false},"author":1,"featured_media":94060,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-174037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/174037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=174037"}],"version-history":[{"count":1,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/174037\/revisions"}],"predecessor-version":[{"id":174038,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/174037\/revisions\/174038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/94060"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=174037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=174037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=174037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}