Differences in Saving and Investment between Men and Women in Luwinga Ward Mzuzu City, Malawi

Abstract

Saving and investment are important and required for a society. Therefore, this study was conducted to assess the differences in saving and investment between business and working men and women of Luwinga Ward, Mzuzu City. Sample of 100 men and women participated in a structured questionnaire survey. Descriptive statistics was used to analyze the differences that men and women have on the preferences of type of saving and assets ownership. The logistic binary regression was used to determine the factors influencing the saving behavior of men and women. The results showed that gender moderate preferences of saving avenues and asset ownership. There were gender disparities in savings and assets ownership in which men were having long-term savings and also were owning more financial assets compared to the women. It was found that saving behavior between men and women significantly determined by source of income, sex, Marital status, age and education level. The paper recommends the provision of financial literacy and capacity development in making investment decision to women and youth. The paper also recommends economic empowerment through provision of low-interest loans to youth and women to boost their saving and investment behavior. This paper has policy impact in narrowing down gender differentials between men and women in making saving and investment decision that favours national development.