Women’s Month in South Africa: More Than a Celebration
Every August, South Africa celebrates Women’s Month by recognising the incredible women who have shaped our country. Social media fills with inspiring stories, businesses honour the women in their organisations, and communities come together to celebrate their achievements.
But the true meaning of Women’s Month in South Africa goes far beyond appreciation.
It is about remembering the more than 20,000 women who marched to the Union Buildings on 9 August 1956, standing together against injustice and demanding equality, dignity and freedom. Their courage laid the foundation for many of the opportunities women enjoy today.
Nearly seventy years later, South African women are leading businesses, raising families, shaping policy, building wealth and contributing to every sector of society.
There is much to celebrate.
But Women’s Month also reminds us that while many barriers have been broken, others still remain.
Today, many of those barriers are financial.
The encouraging news is that financial planning has become one of the most powerful tools women can use to continue the legacy of those who came before them-not only for themselves, but for their children and generations to come.
How Far Have South African Women Come?
The progress made by South African women is remarkable.
According to UN Women, women now hold approximately 46% of the seats in Parliament, making South Africa one of the leading countries in the world for female political representation.
Women are also making an enormous contribution to the country’s economy.
Research highlighted by Liberty estimates that women contribute 48.3% of South Africa’s GDP-approximately R1.3 trillion every year.
That figure represents millions of women driving businesses, supporting communities, caring for families and contributing to the country’s long-term growth.
Women are also taking on greater financial responsibility within their own homes.
According to Standard Bank, 42.1% of South African households are headed by women.
That means that in nearly half of South African homes, women are the primary decision-makers and, in many cases, the primary income earners.
Perhaps one of the biggest signs of progress is financial inclusion.
According to the World Bank Global Findex, 81% of South African women aged 15 and older now have a formal bank or mobile money account.
That may seem like a simple statistic. In reality, it represents something much bigger.
Access to formal financial services opens the door to saving, investing, retirement planning, insurance and long-term wealth creation.
For many women, financial inclusion is the first step towards financial independence.
These aren’t just encouraging numbers.
They’re proof that South African women have continued breaking barriers long after the Women’s March of 1956.
Progress Doesn’t Mean the Journey Is Over
While the progress is worth celebrating, the numbers also remind us that equality is still a work in progress.
One of the biggest challenges women continue to face is the invisible work they do every single day.
According to the UN Women Data Hub, South African women spend approximately 15.6% of their time on unpaid care and domestic work, compared to 6.5% for men.
This includes raising children, caring for ageing parents, managing households and supporting extended family members.
These responsibilities are essential to society, yet they often come at a financial cost.
Career breaks reduced working hours and slower career progression can all impact lifetime earnings and retirement savings.
It’s one of the reasons why many women find themselves balancing the financial needs of everyone around them while putting their own financial goals on hold.
Financial planning helps address this reality by ensuring that even when life changes, long-term financial goals don’t have to.
Women Are Already Making Smart Financial Decisions
One of the most encouraging findings from recent South African research is that women are increasingly taking control of their financial futures.
According to Discovery Corporate & Employee Benefits, women are 1.2 times more likely than men to contribute more than their employer’s default retirement contribution.
Despite often earning less and carrying greater family responsibilities, women are actively choosing to save more for retirement.
That tells us something important. Women understand the value of planning ahead.
However, the same research highlights another challenge.
Women are 1.3 times more likely to withdraw money from their retirement savings, and are 80% more likely to use those withdrawals to pay school fees.
These decisions are understandable. When children need an education or families face financial pressure, retirement savings often become the easiest solution.
But every early withdrawal reduces the power of compound growth and can significantly affect financial security later in life.
This is why building an emergency fund is just as important as saving for retirement.
Having accessible savings can help protect long-term investments when unexpected expenses arise.
Financial Stress Is Real-And You Don’t Have to Navigate It Alone
Money is one of the biggest sources of stress for many South Africans.
Women often experience this even more acutely because they frequently balance multiple financial responsibilities at once.
According to the Sanlam Financial Matters Survey, 24% of women experience financial stress almost every day.
Perhaps even more telling is that 62% of women say they would welcome financial coaching or guidance.
These statistics send an important message. Women aren’t looking for someone to take control of their finances.
They’re looking for trusted guidance that helps them make informed decisions with confidence.
That’s exactly where professional financial advice can make all the difference. A financial plan isn’t simply about investments or retirement.
It’s about creating clarity. It helps you understand where you are today, where you want to go and the practical steps needed to get there.
Financial Planning Is About More Than Money
Too often, financial planning is associated with retirement or high-net-worth individuals.
In reality, it’s about creating choices. It’s about having the confidence to change careers. Start a business.
Take time off to raise a family. Support ageing parents. Prepare for retirement. Protect your income.
Build wealth.
Leave a legacy.
No two women have the same journey. Your financial plan should be just as unique as your life. The right financial strategy evolves with you through every stage of life, helping you navigate change while keeping your long-term goals on track.
The Legacy We Leave Behind
Women’s Month reminds us that progress is built one courageous decision at a time.
The women who marched in 1956 challenged laws that limited opportunity. Today’s women have an opportunity to challenge something different:
- Financial uncertainty.
- The gender investment gap.
- The retirement savings gap.
- The belief that wealth creation is only for a select few.
Every decision to save. Every investment made. Every insurance policy that protects your family. Every retirement contribution. Every conversation with a trusted financial adviser.
These may not make history books. But they have the power to change family histories.
Children don’t only inherit wealth. They inherit financial habits:
- confidence
- opportunity
- security
When women build financial resilience, they create opportunities that extend far beyond their own lifetime.
Continuing the Legacy
Women’s Month is not only about celebrating how far South African women have come.
It is about recognising how much further we can still go.
The women who marched nearly seventy years ago gave future generations more opportunities than ever before.
Now it’s our responsibility to make the most of those opportunities.
Financial planning isn’t just about preparing for retirement. It’s about creating freedom:
- Freedom to make choices.
- Freedom to support the people you love.
- Freedom to build the life you’ve worked so hard for.
And perhaps most importantly, freedom to open doors for the next generation of women who will continue breaking barriers long after us.
Because true empowerment doesn’t end with equality.
It continues with financial confidence, thoughtful planning and the courage to invest in your future.
Adviceworx is a juristic representative of Adviceworx Advisory (FSP 33002) and an authorised Financial Services Provider (FSP 44914).
This article is for information purposes only and does not constitute financial advice. Readers should obtain appropriate financial advice tailored to their individual circumstances before making any financial decisions.
