African Women and Bitcoin: Why Financial Inclusion Matters Now More Than Ever
Let’s talk about the exclusion of African women from the financial sector for a moment. It’s a topic that doesn’t get nearly enough attention, yet it affects millions. Studies show that around 63% of African women do not have bank accounts, relying instead on cash or mobile apps with little to no KYC requirements. This gender disparity isn’t accidental; it’s the result of long-standing social and economic barriers. These include limited access to education, lack of property ownership rights, the need for collateral to access loans, gender pay gaps, and fewer job opportunities.
While some might dismiss this as just another statistic, it should concern all of us. Excluding women from financial systems leads to one inevitable outcome: poverty cycles. Women become overly dependent on their male counterparts, limiting their access to resources that could build wealth and provide essentials for their families and communities. So, how do we change this story? The answer is simple: by using a tool that no one controls.
Bitcoin: A Seat at the Financial Table for African Women
Bitcoin, a decentralized asset, has already been used by individuals, communities, and even nations to reclaim what the traditional financial system has often denied them. I believe that when Satoshi Nakamoto created Bitcoin, it was meant for everyone. Bitcoin doesn’t care about your gender, race, or where you live. Just look at El Salvador—since adopting Bitcoin in 2021, the country has seen improvements in its economy, increased security, and even a boom in tourism. Africa could learn a lot from that.
As a continent, Africa struggles with one of the most inefficient financial systems in the world. We face high fees, slow cross-border payments, bureaucratic red tape, and many of our currencies are pegged to the US dollar or the Euro. For women, the situation is even more dire. They’re not just battling an inadequate system; they’re often left out entirely. Bitcoin offers an opportunity to change all that.
How Bitcoin Can Transform African Women’s Lives
1. Accumulating Wealth: In many parts of Africa, property inheritance is still reserved for men. But Bitcoin offers a way for women to accumulate wealth on their own terms. With as little as $1, women can start “stacking sats” and participate in an asset that has been the best performer for over a decade. Bitcoin’s digital nature also allows women to protect and grow their wealth and pass it down to future generations, regardless of their location.
2. Financial Inclusion for All: Africa has 163 million financially excluded individuals, many of them women. Bitcoin can bypass the traditional barriers to financial inclusion—bank accounts, credit histories, and collateral. All that’s needed is a phone and an internet connection. In some cases, even the internet isn’t necessary; innovative solutions like Machankura allow people to send and receive Bitcoin using simple feature phones, making financial access even more widespread.
3. Privacy & Security: Women who face threats from central authorities, abusive partners, or authoritarian regimes can find safety in Bitcoin’s pseudonymous and secure system. It allows them to transact without revealing their identity, giving them control over their finances. A prime example is Farida Nabourema, a human rights activist from Togo, who narrowly escaped her country while using Bitcoin to continue her fight for freedom.
4. A Cushion Against Inflation: Economic volatility is another major issue in Africa, where hyperinflation and currency devaluations plague countries like Zimbabwe, Nigeria, and South Sudan. Women, already struggling to save and plan for the future, are especially vulnerable. Bitcoin provides a stable alternative, allowing women to protect their assets and send cross-border remittances without the high fees associated with traditional money transfer services. Remittances, which amount to $55 billion annually for Africa, are critical for many women managing household needs, providing them with financial independence and opportunities to invest in education or small businesses.
Celebrating the African Women Shaping the Bitcoin Ecosystem
This conversation would be incomplete without applauding the incredible African women who are already making strides in shaping the future of the continent through Bitcoin. Lorraine Marcel, founder of Bitcoin DADA, is empowering women by helping them navigate the decentralized world of Bitcoin. Farida Nabourema, a human rights activist, continues to fight for freedom in Togo using Bitcoin as a tool for liberation. Janet Maingi, the COO of Gridless Mining, is contributing to the energy and financial infrastructure in underserved African regions, bringing renewable energy and Bitcoin mining to the forefront. Ojoma Ochai, Managing Director, Co-creation Hub Africa and Board Member at B-trust, is another force in the ecosystem, working tirelessly to ensure Africans have access to the opportunities that Bitcoin brings. These women, along with many others, are quietly but powerfully shaping the future of Africa’s financial ecosystem in their own ways, proving that Bitcoin is not just for the tech-savvy or financially privileged—it’s for everyone.
Conclusion: The Ripple Effect of Empowerment
By giving African women a seat at the financial table, we’re not just helping individuals—we’re laying the groundwork for stronger communities and a wealthier, more resilient continent. Bitcoin, as a decentralized tool, allows women to take control of their financial futures, build wealth, and escape the poverty cycles that have long held them back. It is more than just an investment or a currency—it is a lifeline.
The exclusion of African women from financial systems is a reality we can’t afford to ignore any longer. With Bitcoin, we have the power to change this narrative, providing a pathway to empowerment, freedom, and long-term prosperity for all.
