Beyond Access: How Digital Financial Services Shape Women’s Power and Maternal Wellbeing

Abstract

Drawing on qualitative research with pregnant and postpartum women in Kakamega County, Kenya, this study finds that women’s access to economic resources is constrained by gender norms, informal livelihoods, and caregiving responsibilities, particularly during pregnancy and after childbirth. These constraints reduced women’s income-generating opportunities and increased reliance on spousal support and digital financial services (DFS) to manage household expenses, save, and meet urgent needs. DFS improved women’s access to money by enabling timely remittances, facilitating savings outside the household, and supporting participation in Chamas (women savings groups). DFS-enabled chamas strengthened women’s economic empowerment by increasing income stability, expanding access to lump-sum payments, and fostering collective investment in income-generating activities, thereby enhancing women’s financial autonomy and household bargaining power. However, limited earning capacity during the perinatal period, combined with high-interest digital loans and short repayment periods, exposed women to cycles of debt. While digital loans provided short-term relief, repayment difficulties contributed to financial strain, anxiety, and emotional distress. Stress was heightened when loans were taken without spouses’ knowledge, leading to marital conflict and, in some cases, loss of household or business assets. Overall, DFS both enabled and constrained women’s economic empowerment and maternal mental health. These findings highlight the importance of gender-responsive digital financial inclusion strategies that strengthen women’s agency while minimizing financial and psychological risks during the perinatal period.