Stori to Invest MX$7 Billion to Boost Women's Financial Inclusion

The Ministry of Foreign Affairs and Stori have announced a MX$7 billion investment over the next two years aimed at enhancing financial inclusion for women in Mexico. The initiative seeks to provide advisory services, loans, and seed funds to support women entrepreneurs and improve their access to financial services.

Alicia Bárcena, Minister of Foreign Affairs, and Marlene Garayzar, Co-Founder and CGO, Stori, underscored the importance of public-private partnerships in advancing financial inclusion for women. "Improving financial inclusion, particularly for women, remains a significant challenge in our national policy. Opening a bank account is a critical step toward achieving economic independence, empowering individuals to manage, invest, and reap the rewards of their labor. Stori is facilitating access to formal financial instruments that enable Mexicans to pursue better opportunities," stated Bárcena.

Garayzar noted that the investment will enhance financial products, broaden their accessibility, and bolster local economies. "This includes expanding our digital infrastructure, enhancing financial education programs, and fostering our growth to deepen financial inclusion," added Garayzar.

According to Expansión Mujeres, women are projected to control 75% of discretionary spending globally by 2029. However, in Mexico, the percentage of women with financial products is 12.1% lower than that of men, while three out of every 10 women lack autonomy in managing their finances. The 2021 National Survey on Dynamics of Household Relations also revealed that 27.4% of Mexican women aged 15 and older have experienced economic abuse at some point in their lives.