This Women’s Month, as South Africa continues to grapple with a gender pay gap that sees women earning between 23% and 35% less than men for equivalent work, innovative financial solutions are emerging as critical tools for female economic empowerment.
Research by WTW reveals that South African women are expected to retire with just 71% of the wealth accumulated by men, despite living an average of five years longer. This stark reality underscores the urgent need for financial tools and education that can help women maximise their economic potential throughout their careers. Earned-wage access (EWA) platforms are proving particularly effective at helping women navigate the financial challenges created by systemic wage disparities.
EWA platform Paymenow has observed revealing patterns in how women engage with financial wellness tools. While the platform’s user base is nearly evenly split between genders (with 200 008 female users compared to 203 093 male users), women show markedly higher engagement with financial education resources. Female users have completed 113 431 financial education modules compared to 101 932 completed by male users.
This heightened engagement with financial education aligns with findings from Sanlam’s 2024 Financial Confidence Index, which revealed that while men and women scored equally on financial confidence measures, women were more inclined to write down their financial goals and pursue learning opportunities to increase their income. This proactive approach to financial management is particularly significant given that 41.8% of South African households are headed by women, according to Statistics South Africa.
The Paymenow data also reveals that women on the platform are more likely to use the savings function and tend to save larger amounts on average than their male counterparts. Additionally, women show higher engagement with the platform’s Financial Health Check feature, suggesting a more comprehensive approach to financial wellness.
“The engagement patterns we’re seeing from our female users are incredibly encouraging,” says Denise Neethling, head of marketing at Paymenow. “Women are actively building financial knowledge and using our tools to create better financial futures for themselves and their families. In a country where the gender pay gap remains a significant challenge, providing women with immediate access to their earned wages and comprehensive financial education helps level the playing field.”
Recent research offers further cause for optimism. A 2024 study by the Commission for Gender Equality found improvements in women’s access to finance and ownership of both public and private assets, despite ongoing challenges in labour force representation and concentration in lower-paying positions. Global Findex data shows that half of South African women now have bank accounts and savings, marking significant progress in basic financial inclusion.
However, challenges persist. StatsSA estimates the overall gender pay gap at 30%, and many women continue to struggle with monthly financial management. The combination of lower wages and longer life expectancy creates a compound effect that threatens women’s long-term financial security.
“Earned wage access represents a practical response to these challenges. By providing employees with access to wages they have already earned, EWA platforms help women avoid high-interest debt while maintaining greater control over their finances,” Neethling says. “When coupled with comprehensive financial education, these platforms offer a pathway to improved financial wellness that addresses both immediate needs and long-term planning.”
As South Africa observes Women’s Month 2025, the convergence of technology, financial innovation, and education offers new possibilities for addressing longstanding economic inequalities. While systemic change remains necessary to close the gender pay gap, tools that empower women to maximise their financial potential represent crucial steps toward economic equality.
“The increased uptake of financial education modules by female Paymenow users suggests that when given access to appropriate tools and resources, women actively pursue opportunities to strengthen their financial position. This engagement, combined with strategic use of savings features and financial health assessments, demonstrates how earned wage access can serve as a foundation for sustained financial empowerment,” concludes Neethling.