Finance2Equal: Reducing Gender Gaps in Tanzania’s Financial Services Sector

In the last few decades, Tanzania has made progress in reducing the gender gap and has increased the number of women who have joined the formal workforce. In a 2022 study, the World Bank found that female labor force participation in Tanzania is estimated at 80 percent and is among the highest in Africa.1 As more women have taken jobs in the higher-paying formal sectors, the ratio of women to men in jobs paying wages and salaries rose from 0.35 women to 1 man in 2019 to 0.64 women to one man in 2020.