The Importance Of Financial Inclusion In Africa

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Africa currently holds the world’s second place in terms of growth with a growth’s rate in the increase of 5% compared to the last twenty years (Triki and Faye, 2013). However, according to the World Bank, although the population living under the threshold of ' $ 1.9 per day’s rate has decreased from 57% to 43% between 1990 and 2012, the number of poor people has increased by nearly 100 million, ranging from 288 to 389 million during the same period (Beegle et al., 2016).
Financial Inclusion, defined as the fact of making accessible at lower cost financial services to the more deprived segments of the population, is regarded today as essential to poverty alleviation and achievement of inclusive economic growth.
Various studies show that when the individual has access to many financial services, he is able to participate more actively in the economic life by investing in education or businesses creation for instance. It follows that a better access to financial services can, as much at the level of the individuals and companies, booster economic growth and reduce inequalities in terms of incomes. We can quote, for example, Aportela (1999); Burgess and Pande (2005); Beck et al. (2007); Ashraf et al. (2010); Prina (2012); Ruiz (2013); Dupas and Robinson (2013a, 2013b); Bruhn and Love (2014).
In the light of the foregoing, policy-makers and regulators apply more energy to make the expansion of the financial inclusion a priority for the financial sector.


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