In conversations around financial inclusion, access is often treated as the ultimate solution. Provide capital, expand services, and the problem should resolve itself. But for Dr. Tale Alimi, the reality is far more complex. Through years of work in financial technology, research, and now policy and programme design, she has come to understand that access is only one part of the equation.
As the founder of REAF Africa, Alimi is working to address the deeper, often overlooked factors that shape how women engage with money; factors rooted in social conditioning, lived experiences, and long-held beliefs.
In this conversation, she speaks about the origins of REAF Africa, the challenges of translating research into practice, and why changing financial systems requires more than just new products:
At what moment did you realise REAF Africa needed to exist?
REAF Africa was born out of my six-year career in financial technology. I previously ran a fintech company called OWOAFARA, which operated under the business name ROUZO. A key part of our work involved engaging with the informal sector and providing access to finance, particularly for women.
As a female founder, I was deeply committed to improving access to capital for women. However, as we expanded our reach, certain patterns began to emerge. Some women would request the smallest possible loans due to a fear of debt and default. Others, even when they had access to funding, would redirect that money towards immediate household needs, such as school fees or family emergencies, rather than investing in their businesses.
This led me to question what was happening beneath the surface. My doctoral research focused on the psycho-social factors influencing women’s access to financial services, and it revealed deeper issues: societal, cultural, and psychological influences that shape how women relate to money.
REAF Africa was created as a response to these findings. It is designed to address not just access, but the broader systemic, social, and internal barriers that prevent women from fully benefiting from financial opportunities. Through the ROUZO Economic Advancement Framework, we develop programmes for individuals and work with financial institutions to create more gender-intelligent products and policies that support women’s economic inclusion.
What was the hardest part of turning academic insight into an operational model like the REAF Story Clinics? What did the early days really look like?
We are still very much in the early stages; REAF Africa is just over a year old. Still, one of the most challenging aspects has been translating academic research into something practical and effective in real-world settings.
The starting point was developing a theory of change, which essentially outlines the outcomes we aim to achieve and how our interventions can lead to those results. From there, it became clear that we needed specific tools and programmes to bring the research to life.
One of the first initiatives we developed was the Story Clinics, which use narrative therapy to help women reshape their relationship with money. We refer to it as a “trauma-to-triumph” storyboard, where participants explore and unpack their financial experiences and the beliefs attached to them.
To test the model, we conducted a pilot programme with baseline and post-clinic surveys to assess changes in participants’ perceptions of money after the Story Clinics. The results were encouraging and showed measurable shifts in how women viewed and engaged with their finances.
At this stage, we are focused on expanding the methodology and exploring how it can be integrated into corporate and institutional frameworks. It remains a work in progress, but we are learning, refining, and gradually scaling our impact.
You advise banks and corporations on gender-lens strategies. What resistance do you typically encounter when challenging traditional financial models?
There is still a fair amount of resistance. Many organisations operate with long-established systems and processes that have worked for them over time, so there is often little urgency to change.
What I have come to understand is that this is a long-term effort. A significant part of my work involves education; through white papers, policy documents, and ongoing advocacy. Encouraging institutions to adopt gender-intelligent approaches often requires them to rethink and, in some cases, overhaul existing frameworks, which does not happen overnight.
That said, there are signs of progress. Some organisations are beginning to rethink how they design products and services. However, meaningful change takes time, particularly within institutions that have operated in a certain way for decades.
We remain committed to this work because the stakes are high. The African Development Bank has reported a $42 billion annual financing gap for women. Without a shift in approach, that gap will persist. So, despite the resistance, we continue to push forward.
You work at the intersection of psychology and economics. In your view, how closely are financial wellbeing and overall life wellbeing connected for women?
They are closely connected. For example, the World Bank reports show that women are the poorer gender and this has real societal implications. When women lack financial resources, it affects multiple areas of life like health, living conditions, and family wellbeing.
Financial stability contributes significantly to overall quality of life. When women are financially constrained, it impacts not only their own lives but also how they raise their children, which in turn affects the next generation.
There is also a strong emotional dimension. Financial stress can lead to anxiety and depression, making it difficult to separate financial wellbeing from mental and emotional wellbeing. The two are deeply intertwined.
You are many things: a researcher, a CEO, a consultant, an author. Which role feels most natural to you?
To be honest, all of them feel natural. Much of what I do is driven by both conviction and skill. Over the years, I have had the opportunity to develop these skills with a great deal of focus, and now they come together quite seamlessly.
I see my work as integrated. Each role contributes to a larger purpose, which is centred on financial liberation and economic empowerment, particularly for women.
At the core of it all, I consider myself a storyteller. Whether through research, consulting, or writing, I am essentially telling stories that help people understand their experiences and, ultimately, find pathways to greater economic freedom.
What personal boundaries have you had to put in place as your visibility and influence grow?
I am still figuring that out, but one thing I am mindful of is being intentional about what I share. I focus on sharing insights that add value and do not harm others or compromise their privacy.
Authenticity is important, but it must be balanced with discretion. I try to ensure that whatever I put out aligns with the broader goal of my work, which is to support mental and economic transformation for women.
That goal remains my guiding principle, my North Star. It shapes what I say, what I share, and how I show up.
Your work deals with heavy themes like trauma and exclusion. How do you protect your own emotional wellbeing while carrying those stories?
That has been an important learning curve for me. In the early stages of my work, I found myself absorbing the experiences of the women I was working with, which became overwhelming.
Over time, I have learned the importance of maintaining a boundary between empathy and personal identification. It is possible to care deeply without internalising those experiences as your own.
I have also committed to doing my own internal work, through journaling, reflection, and narrative therapy. Understanding my own story has been an important part of being able to support others effectively.
If you could sit across from a young woman who feels intimidated by money, what is the first thing you would say to her?
I would tell her that it is not her fault. Much of what shapes our relationship with money comes from how we are socialised and the narratives we grow up with.
The encouraging part is that those beliefs can be changed. With the right knowledge and support, it is possible to reshape how you think about money and what you believe you are capable of achieving.
From there, the next step is simply to begin. To start learning, to start engaging, and to gradually build a healthier, more empowering relationship with money.
Dr. Tale Alimi’s work sits in a space that is often overlooked in financial conversations; the human side of money. While policies and products remain essential, her approach suggests that lasting change requires a deeper examination of how people think, feel, and make decisions about money.
As REAF Africa continues to grow, its focus remains clear: not just expanding access, but ensuring that women are fully equipped, internally and externally, to make the most of it.
Written by Olowolayemo Aliyah
