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The Concept of Financial Inclusion


Author(s) : Sunduzwayo Madise
Palgrave Macmillan Studies in Banking and Financial Institutions

Abstract


This chapter discusses the concept of financial inclusion. Financial exclusion usually affects people on the margins of society, especially in sub-Saharan Africa. Financial exclusion is a manifestation of social exclusion. The chapter, however, argues that financial inclusion as a concept suffers from being associated with the formal financial system. Using the study of a local village bank, it calls for a redefinition of the concept to reflect local contexts existing in most parts of sub-Saharan Africa. In most parts of sub-Saharan Africa, which are not served by banks or other financial services providers, because of the proliferation of mobile phones, mobile money may provide the important interlink between the informal and formal financial system and be a driver towards attaining financial inclusion.


Original language en
Pages (from-to) 201-227
Publication status Published - 2019

Access document

10.1007/978-3-030-13831-8_6

License

http://www.springer.com/tdm
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Access document

10.1007/978-3-030-13831-8_6

License

http://www.springer.com/tdm