“There is still a persistent gap between what men and women are paid. According to the 2020 World Economic Global Gender Gap Report, the global gender gap stands at 68.6%. So, if you are a woman, on average, you’re earning up to 32% less than your male counterparts. It’s estimated that it’ll take close to 100 years still to achieve gender parity,” says Essop.
She explains that local women face some specific challenges. “According to the Human Sciences Research Council, 40% of mothers are single parents and only about 25% of children are part of a nuclear family. This means many South African women have the challenge of prioritising finances and financial planning while continuously juggling a myriad of other daunting responsibilities as a single parent.”
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