Over 40% of South African households are headed by women, according to Statistics South Africa’s 2023 General Household Survey. And their seat at the table at home is not the only one they occupy. Be it in their professional capacity, in their communities, or their extra-curricular activities, the women of South Africa are constantly switching seats and balancing demands.

Women play a vital role in the economy, but are they doing enough to secure their seat at their financial table?

At a series of recent events held across the country, head of Marketing at Allan Gray, Zwelethu Nkosi, hosted inspirational entrepreneurs from various disciplines including investment management, healthcare, luxury goods and community-driven spaces. A key theme that consistently emerged was that active steps need to be taken by generations today to continue to break down gender roles – including in the financial realm – to empower future generations to succeed. Across the country, the panellists agreed that this takes courage.

“Courage is so layered,” said Nkosi, speaking on the sidelines of the event. “Over the past few days, we have heard incredible examples of courageous moves that women have made, often in the face of adversity, to reach towards their goals and achieve great things. The underlying takeaway has been that progress takes time, commitment, and resilience. Success does not come overnight,” she noted.

“We’ve been so inspired by the founders and their stories, but what is interesting is that many of the lessons they imparted apply to making progress towards long-lasting financial security – which is key for all women, particularly those heading up their households. It takes courage to take control of your finances, break bad spending habits and sacrifice immediate wants. It takes courage to set seemingly unattainable goals… and to go after achieving them.”

What better gift to give oneself this Women’s Month, than the gift of the first step towards financial security? But where can one begin when the world of investments feels so complex and financial goals seem so out of reach?

“Engaging with investments can be very intimidating,” acknowledges Nkosi. “But fear is often grounded in the unknown, and the best way around this barrier is through reading, watching, listening – or talking to a professional in the know, to empower oneself.”

Nkosi recommends confronting your fear by making the first move. As with anything in life, that initial action brings you one step closer to what you want to achieve. “Begin with what you know: the goals you are trying to conquer – saving for a deposit for a home or car, investing for your children’s education or for your retirement, to name a few. Put these down on paper and then do a little research into how you can achieve them.”

Nkosi has three key messages for would-be investors who may be struggling to get started:

1.      Every small amount invested brings you a step closer to achieving a goal.

2.      Good habits start with the correct behaviour; once you’re in the rhythm, everything becomes easier.

3.      Don’t be intimidated into inertia; small amounts add up and compound over time; whatever you accumulate will give you more options in the future.

She acknowledges that change is scary – and making the move takes courage. But we owe it to ourselves and future generations.

“A vital aspect of empowering the next generation is to empower ourselves, thereby both setting an example, and potentially putting ourselves in the position to give others a leg up – through connecting, advising, or sponsoring. We all have it in ourselves to make small changes. Why not make this your commitment this Women’s Month?” concludes Nkosi.