Point of view: how women are redefining financial independence in South Africa

There’s a quiet but powerful shift happening in South Africa’s financial landscape, and it’s being led by women. We’re not just participating in the economy, we’re shaping it, one decision at a time. From buying homes and cars to managing insurance and investments, women are increasingly taking control of their financial futures. And while I don’t yet own a house, I see myself reflected in this movement.

Standard Bank’s latest data paints a compelling picture: nearly 40% of all main applicants for home loans today are women, and two-thirds of those are buying property on their own. That’s not just progress, it’s a redefinition of independence. It’s women saying, “I can do this. I will do this.”

For years, women have made up the majority of Standard Bank’s home loan clients. But what’s truly remarkable is the rise in sole ownership. In the past two years, 66% of female main applicants bought homes without a co-applicant. These are women who’ve built careers, saved diligently, and made long-term investments in their futures.

While I haven’t yet taken that step, I find deep encouragement in these numbers. They remind me that home ownership isn’t a distant dream, it’s a goal within reach. And when I do decide to buy, I’ll be joining a growing community of women who’ve proven that financial independence is not only possible, but powerful.

 The shift extends beyond property. Women now make up nearly 44% of Standard Bank’s Vehicle and Asset Finance client base, up from 38.5% a decade ago. Younger women, especially those aged 31 to 45, are leading the charge. We’re choosing vehicles that suit our lifestyles, budgets, and values.

I remember the pride I felt when I bought my first car. It wasn’t just about mobility, it was about freedom. I chose a reliable, fuel-efficient model that matched my needs and my financial plan. That decision, like so many others, was a quiet affirmation of my autonomy.

Even in the realm of short-term insurance, women are stepping up. Standard Insurance Limited’s data shows that women now file the majority of claims among policyholders aged 34 to 44, particularly those who are unmarried or divorced. We’re not just protecting our assets, we’re managing risk with foresight and confidence.

Dr Hardy Ncube, head of personal products at Standard Insurance Limited, puts it plainly: “Our data challenges the traditional narrative, showing that women are not only actively engaged but may even surpass men in certain policyholder demographics.” That’s not just a shift, it’s a statement.

As someone who’s still on the journey, I find strength in these stories. I may not own a house yet, but I’ve made financial decisions that reflect my values, my goals, and my independence. I’ve invested in myself, and I continue to build towards a future that’s mine.

We’re not just financing homes and cars. We’re financing freedom, security, and self-determination. And whether we’re just starting out or already holding the keys, we’re part of a movement that’s changing South Africa’s financial story, one woman at a time. To all the women out there, Happy Women's Day!

* Maleke is the editor of Personal Finance.

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