Financial Inclusion in Eastern and Southern Africa: Status, Drivers, Challenges and Opportunities
- Author Gladys Jadagu
- Co-Author Privilege T. Murambadoro, and Tavonga Njaya
- DOI https://ww
- Country : United States
- Subject : Business
Keywords : Financial Inclusion, Eastern and Southern Africa, Drivers, Challenges, Opportunities, Government Policies, Technology, Digital Financial Services, Microfinance, Financial Literacy.
Abstract
Financial inclusion is a crucial component of economic development and poverty reduction in Eastern and Southern Africa. Using desk research, the paper presents a comprehensive review of the current status of financial inclusion in the region, including the progress made, challenges encountered as well as growth opportunities. The paper examines the drivers of financial inclusion, the role of government policies and programs, technological advancements, and public-private collaborations. Additionally, the paper discusses the obstacles hindering financial inclusion, such as inadequate financial literacy, limited access to affordable loans, and insufficient technological infrastructure in rural areas. Finally, the paper suggests potential strategies for expanding financial inclusion, including the involvement of digital financial services, microfinance organizations, and financial literacy programs.
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