'Cellphones for Women in Developing Nations Aid Ascent From Poverty' by Melinda Gates in The New York Times

Photo by: Natasha Fillion

Photo by: Natasha Fillion

"When women have access to digital financial services, it is easier for them to invest in the future of their families. That benefits everyone, because healthier, more educated children today mean healthier, more prosperous communities tomorrow.

The GSMA, an association of mobile operators, estimates that closing the mobile phone gender gap could open a $170 billion market to the mobile industry alone over the next five years.

So how do we get more of this technology to more women? One thing we need is more information about why women are less likely to own mobile phones or use mobile money services.

This month, the World Bank will release the Global Financial Inclusion Database, or Global Findex, report. This report will provide new insights into women’s use of digital financial services and help improve our understanding of how to close the gaps that remain. The Group of 20 industrial nations are also trying to better understand how digital payments can empower female entrepreneurs and bring more women into the formal economy."

Read full article here.