FEMALE-RUN institutions contributed 1,5% to a total income of $5,9 billion realised by privately-owned establishments, showing a wide gap to those run by males, a new report has shown.
Source: Female-run institutions contribute 1,5% of $5,6bn private businesses income – NewsDay Zimbabwe October 6, 2016
BY TATIRA ZWINOIRA
Institutions run by men constituted 30,1% of the income at $1,77bn. The rest was from those run jointly by males and females. These privately-owned establishments surveyed in the report were ones either licensed or registered with government, according to the Survey of Services Report 2013 launched on Wednesday by the Zimbabwe National Statistics Agency (ZimStat).
“At a national level, 5,6% of 3 528 privately owned SS1 establishments (ones which participated in longer questionnaires) belonged to females while 36,5% were owned by males and 42,3% owned by both males and females,” ZimStat said.
“Close to 51% of establishments in the professional, scientific and technical services were male owned compared to 7,1% that were female owed.”
Out of the total value of gross fixed capital formation of establishments that took longer questionnaires, female privately-owned establishments were valued at a meagre 0,5% of a total of $137,2 million. Male privately-owned establishments were valued at 15,4%.
Capital formation is a term used “to describe the net capital accumulation during an accounting period for a particular country, and the term refers to additions of capital stock, such as equipment, tools, transportation assets and electricity”.
According to analysts, higher capital formation growth helps an economy grow its aggregate demand, thus increasing its incomes, which means women are contributing to the economy at a slower rate compared to men.
In all the provinces, there were more male-owned establishments with proportions ranging from 33,6% to 59,9% as compared to the female-owned which ranged from 15,9% to 32,4%.
“In both urban and rural areas, male-owned establishments constituted proportions above 50%,” Zimstat said.
Of the privately-owned establishments that took shorter questionnaires, female privately-owned institutions constituted proportions of 13,1% compared to men’s 50,7% to incomes. The gender gap was also realised with flea markets where even though female-owned more of the 27 871 flea markets nationwide, they contributed slightly less than men.
“Total income received by flea market establishments was $337,7 million with the male owned receiving 40,5% while the female operated received 40,3%,” Zimstat said.
Women only fared better with hair salons where out of a total income of $21,3m, female-owned hair salons constituted 66%, men were at 24,8% and ones owned by both women and men were 8,8%.
Current, statistics show part of the reason between the new gap has to do with loans and advances made to women in the banking sector which was less than 10% of the portfolio.
In his mid-term monetary policy statement, Reserve Bank of Zimbabwe governor John Mangudya said more loans and advances in 2017 have to be skewed towards women.
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