Mobile money and financial inclusion

Financial inclusion and human development in frontier countries

“…Moreover, it finds positive and statistically significant values at different significance levels for income level in column 1, financial literacy and healthy lives in columns 1 and 3. The findings endorse empirical works that document that human developmental factors such as income or living standards (Ardic et al, 2011; Barr, 2004; Connolly & Hajaj, 2001; Demirgüç‐Kunt & Klapper, 2012; World Bank, 2005), and literacy (Amaeshi, 2006; Osei‐Assibey, 2011; Sarma, 2008; Zeti, 2005) are the underlying factors to promoting financial inclusion. Individuals or households with little or no education are more likely to be financially illiterate, and therefore lack knowledge, understanding and information on financial products, services, and basic financial management (Barr, 2004; Connolly & Hajaj, 2001; Kempson & Whyley, 1998).…”

“…Therefore, the author concludes that banks in Nigeria should take pragmatic steps to eliminate the prevalence of illiteracy‐driven financial exclusion to enhance their brands by alleviating financial exclusion through corporate social responsibility; and in so doing, mitigate the probable risk of 'harsh' social regulations on the part of policy‐makers to address the existence of financial exclusion in Nigeria. Besides, Osei‐Assibey (2011) investigated the relation between financial inclusion and poverty reduction in Ghana by exploring the socioeconomic factors underlying financial exclusion. The study finds that the most prominent factors underlying voluntary self‐exclusion are strong perception of access to finance difficulties, financial literacy, and negative cultural and religious beliefs on credit use.…”

“…Most studies on financial inclusion have focused on the state of financial inclusion in developing countries (Demirgüç‐Kunt & Klapper, 2012; United Nations, 2007; World Economic Forum, 2009); financial inclusion and poverty (Chibba, 2009; Osei‐Assibey, 2011; World Bank, 2015) determinants, challenges, and opportunities of financial inclusion (Dev, 2006; Kumar, 2013). All these prior studies either ignored or did not adequately scrutinize the role of the degree of human development in promoting financial inclusion from the perspective of frontier markets.…”

Effect of Lower Currency Denomination on Business to Consumers in Era of Cashless Society: A Study of Maiduguri Metropolis Nigeria

“…This "Financial Inclusion Theory" is postulated by Porter (2014) that financial inclusion refers to the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and most vulnerable groups, such groups being weaker sections and low-income at an affordable cost in fair and transparent manner by main stream institutional players in the society. As cited in Jumba & Jumba (2019), finacial inclusion is a strong supporter of inclusive financial sector and it is one that provides access to credit for all bankable people and firms; to insurance for all insurable people and firms, and to savings and payment services for everyone (Osei-Assibey, 2015). This study of Effect of Lower Currency Denomination in the regime of cashless society is premised on Financial Inclusion Theory.…”