Reversing the financial impact of Covid-19 on women
The pandemic has extended the timeline to reach gender equality by 51 years
Disease outbreaks expose and exploit existing forces of marginalisation. Experiences from pandemics such as Ebola and Zika for instance, suggest that women take longer than men to recover from the impact of a financial crisis. Women are less likely to have significant savings or have put money away for retirement, leaving them at higher risk after periods of unemployment or restricted income.
The uneven impact of Covid-19 on women has not gone unnoticed, and if left unattended, is likely to worsen inequality in societies. It has already extended the timeline to reach gender equality by 51 years — from 2120 to 2171.
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Ntombi Mhangwani, experience architect and women’s forum lead at Accenture Interactive Africa, says: “The impact of Covid-19 will continue to allow societies to be less equal, poorer and more divided if they are left unattended. It is therefore important to recognise women as equal partners and key actors in the economy, and in the process increase the possibilities for a quicker socioeconomic recovery.”
This article was paid for by Accenture SA.