Female investors are on the rise in the Middle East, reveals StashAway MENA
Since its launch in November 2020, StashAway has been monitoring investment habits and trends in the region. In the earlier stages of launch, the company found that two thirds of signups were men, however, it’s already seeing this edge downwards with the proportion of women starting to increase. Over time, similar to trends seen in Singapore and Malaysia, the company expects to see women account for 50 percent of signups.
In just three months since launch, StashAway MENA has found that there is a rise of the female investor in the region and has identified the region’s top financial goals.
When it comes to an individual’s financial goals, 32 percent are focused on growing money for retirement purposes, primarily due to the lack of pension plans in MENA. In addition, people in the region aspire to invest and buy property with 19 percent making it their financial goal; thirdly there has been a significant increase in the number of people investing with the intention to start a business.
Ramzi Khleif, General Manager of StashAway MENA comments, “It’s interesting for us to see how trends in the Far East are very much happening here, with the rise of female investors. We are driven to reach out to more women, empower and educate them on finance. Based on these trends we predict that women will make up half of our client base which is faster than how long it took us to achieve this in Singapore and Malaysia.”
As a response, StashAway will be further enhancing its free to access Financial Wellness Programme and dial up the webinar sessions, especially for women in order to provide them with the right tools and information to make the most informed decisions. In the GCC the life expectancy of women is around 78.35 years, longer than a man which is 75.8 years, which means women should not consider taking a back seat when it comes to financial decision making and their financial future.