The State of Financial Inclusion in Sub-Saharan Africa

David Mhlanga

doi:10.4324/9781003515715-2

The State of Financial Inclusion in Sub-Saharan Africa

David Mhlanga

University of Johannesburg

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

3 Citations (Scopus)

Abstract

This chapter analyzes financial inclusion trends and government initiatives in the region. It highlights socioeconomic and geographical challenges limiting access to formal financial services. This chapter examines banking services, credit access, insurance products, and digital financial services, emphasizing the significant role of mobile banking and fintech innovations. Despite progress, substantial disparities and obstacles remain for marginalized groups, including women and rural communities. This chapter also proposes policy solutions involving governments, regulatory bodies, and the private sector, focusing on legal frameworks, financial education, and targeted programs. The concluding section explores the future of financial inclusion in the context of the digital economy and global financial changes.

Original language	English
Title of host publication	Financial Inclusion and Sustainable Development in Sub-Saharan Africa
Publisher	Taylor and Francis
Pages	8-31
Number of pages	24
ISBN (Electronic)	9781040300589
ISBN (Print)	9781032849379
DOIs	https://doi.org/10.4324/9781003515715-2
Publication status	Published - 1 Jan 2025
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 1 No Poverty
SDG 5 Gender Equality
SDG 8 Decent Work and Economic Growth

ASJC Scopus subject areas

General Economics,Econometrics and Finance
General Business,Management and Accounting
General Social Sciences

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10.4324/9781003515715-2

Cite this

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AB - This chapter analyzes financial inclusion trends and government initiatives in the region. It highlights socioeconomic and geographical challenges limiting access to formal financial services. This chapter examines banking services, credit access, insurance products, and digital financial services, emphasizing the significant role of mobile banking and fintech innovations. Despite progress, substantial disparities and obstacles remain for marginalized groups, including women and rural communities. This chapter also proposes policy solutions involving governments, regulatory bodies, and the private sector, focusing on legal frameworks, financial education, and targeted programs. The concluding section explores the future of financial inclusion in the context of the digital economy and global financial changes.

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The State of Financial Inclusion in Sub-Saharan Africa

Abstract

UN SDGs

ASJC Scopus subject areas

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