Financial Inclusion and Economic Empowerment: A Systematic Review

Abstract

Due to rising levels of poverty and inequality in the world, there is a need to study the nexus between financial inclusion and economic empowerment and how it can aid sustainable development. The United Nations has identified financial inclusion as a pertinent tool that can economically empower citizens and lead to inclusive and sustainable economic development. This study implemented the Systematic Quantitative Assessment Technique and systematically reviewed the body of literature on the measurement of financial inclusion and economic empowerment as well as the impact of financial inclusion on economic empowerment. The review revealed financial inclusion is an essential enabler of economic empowerment as it provides individuals with means to access resources and advance their financial well-being. Recognizing and harnessing the potential of financial inclusion is pivotal in unlocking the full potential of individuals and communities, ultimately leading to inclusive economies worldwide.