As we celebrate Women’s Month in South Africa, it’s a good time to reflect on the increasing involvement of women in financial matters that were, until not too long ago, mostly left to men. This is happening on a number of levels: in the home, in business, and as investors.
In a recent article titled “The Future of Wealth is Increasingly Female”, Leigh Crossman and Nichole Maroun, portfolio managers at Anchor Capital, point out that not only are women more involved in managing household finances, alongside their growing presence in business and the professional sector, but they are expected to control an increasingly significant share of global wealth in years to come.
Crossman and Maroun quote estimates by global management consulting firm McKinsey that women in the US and Europe “control roughly one-third of retail financial assets, rising from 29% a decade ago, with that share projected to reach 40% to 45% by 2030”.
In South Africa a large number of households are headed by women – although it is mostly through force of circumstance..According to the Statistics SA’s 2025 General Household Survey, female-headed households account for 42.6% of total households, rising to 47.6% in rural areas. This represents more than six million homes in which women make the financial decisions.
Property ownership
A recent survey of property ownership in South Africa shows that more women than ever are buying property, reflecting shifts in women’s earning power, changing household responsibilities and greater access to finance. BetterBond Home Loan’s data shows that the number of women applying for bonds as the main applicant increased by 18% from 2024 to 2025. The number of first-time buyers among these applicants rose by 10%.
“As more women assert their financial independence and flex their purchasing power, we are seeing strong activity from this segment of the market,” says Mary Lindemann, Chief Operations Officer of BetterBond Home Loans.
Market trends also suggest that more single women under the age of 35 are buying homes. “Women are getting married later, if at all, and many are delaying starting a family. They are not waiting for a ring or spouse to buy property,” Lindemann says. This is supported by Stats SA data, which shows the median age for women in civil marriages rose from 31 in 2014 to 34 in 2023.
Investments and financial planning
Crossman and Maroun note that although the basics of investing apply to everyone, the financial journeys of men and women differ considerably. “The underlying principles of successful investing (patience, diversification, disciplined asset allocation and a long-term perspective) apply equally, regardless of gender. Financial journeys, however, are not universal. Women generally live longer, are more likely to experience caregiving-related career interruptions and more often play a central role in supporting multiple generations within extended family structures. These realities can have meaningful implications for financial planning, particularly around retirement adequacy, liquidity, wealth transfer and estate planning,” they say.
Pedri Reyneke, CEO of Multilink Financial Services, believes that while women are making strides in many areas, they are lagging behind in benefiting from professional financial advice. He cites the 10X Retirement Reality Report 2023/24, which shows that women are less likely to save or invest compared with men (45% of female respondents versus 35% of men said they didn’t save or invest), and when they do it is more likely to be in cash instruments (30% of women versus 20% of men).
Reyneke says this disconnect suggests that financial advice and engagement strategies are not reaching people the industry needs to serve. “One concern is that many South Africans may not fully understand what a financial adviser does or where to find one. Many still believe that financial advice is only for the wealthy and that it is not relevant to them.
“This does not mean that women lack interest in financial planning. The issue is whether the industry truly understands today’s client, how they think about money, what motivates them, what holds them back, and whether our language resonates with them,” he says.
One thing advisers can do, Reyneke says, is to help female clients better understand the difference between saving and investing. “This includes explaining why saving alone may not be sufficient to achieve long-term financial goals, how inflation affects cash savings and erodes purchasing power over time, and what investment risk looks like over different time horizons,” he says.
