WOMEN IN SA STRUGGLE WITH DEBT DUE TO GENDER PAY GAP

Thu 04 April 2024:

The gender pay disparity in the nation is the main reason why South African women are earning less and accumulating more debt than their male counterparts, according to the National Debt Advisors. Women are disproportionately affected by this issue, especially single mothers, SABC news reported.

Statistics South Africa reports a 30 percent pay gap across various industries in the country. Dehan Scherman, Compliance Officer at National Debt Advisors, explains that women often bear the burden of managing debt, resorting to loans to bridge the income disparity between men and women.

Nearly 38% of South African households are led by women, with approximately 6.1 million homes primarily supported financially by women. NDA says these statistics are deeply concerning as the labour market in South Africa remains skewed in favour of men, resulting in significant gender disparities in employment opportunities.

Josephine Matsediso, a 60-year-old grandmother from Boksburg, Gauteng, shares her struggle as a single parent responsible for her grandchildren’s care: “I was even blacklisted, so I couldn’t even borrow money from the bank or something. The challenge is the groceries, paying the municipality bills, electricity, whatever, and the petrol that is going up and down, like the bond, I was owing, like, clothing and furniture. If I was not single here, it was going to be better because I’ll be having someone who’s helping.”

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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