Financial Inclusion in Africa : An Overview

This paper summarizes financial inclusion across Africa. First, it provides a brief overview of the African financial sector landscape. Second, it uses the Global Financial Inclusion Indicators (Global Findex) database to characterize adults in Africa that use formal and informal financial services...

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Main Authors:	Demirgüç-Kunt, Asli, Klapper, Leora
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS POINTS ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACCOUNT OWNERSHIP ASSET ACCUMULATION AUTOMATED TELLER MACHINES BANK ACCOUNT BANK BRANCH BANK BRANCHES BANK FINANCING BANK POLICY BANKS BARRIER BORROWING BROAD ACCESS CAPITALIZATION CHECKING ACCOUNT COMMERCIAL BANK COMMERCIAL BANK BRANCHES CREDIT ASSOCIATIONS CREDIT CARD DEBIT CARD DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DOCUMENTATION REQUIREMENTS DOMESTIC CREDIT EARNINGS ECONOMIC GROWTH EMPLOYMENT EMPLOYMENT GROWTH ENTERPRISE SURVEY ENTERPRISE SURVEYS ENTREPRENEURS ENTREPRENEURSHIP ENTRY BARRIERS EQUITY FINANCING EQUITY MARKETS EXTERNAL FINANCE EXTERNAL FUNDING FINANCES FINANCIAL ACCESS FINANCIAL DEPTH FINANCIAL PRODUCTS FINANCIAL SECTOR REFORMS FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINANCING OBSTACLES FINANCING SOURCES FIRM GROWTH FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SECTOR FORMAL SAVINGS GENDER GENDER GAP GROWTH OPPORTUNITIES GROWTH RATES HOUSEHOLDS INCOME INCOME INEQUALITY INEQUALITY INFORMAL LENDER INFORMAL SAVINGS INNOVATIONS INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL COMPARISON INVESTMENT FINANCING LEGAL CONSTRAINTS LIMITED ACCESS LINE OF CREDIT LINES OF CREDIT LIVESTOCK INSURANCE LOAN LOC MARKET CAPITALIZATION MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONES NEW PRODUCTS NEW TECHNOLOGIES OPEN ACCESS OUTSTANDING LOAN OUTSTANDING LOANS PRIVATE CREDIT PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT REGULATORY ENVIRONMENT RELIABILITY REMITTANCES RISK MANAGEMENT RURAL CLIENTS SAVINGS SAVINGS BEHAVIOR SECURITY RISKS SELF-FINANCING SHARE OF EQUITY SMALL ENTERPRISES SOURCE OF CREDIT STOCK EXCHANGES STOCK MARKETS STOCKS TELECOMMUNICATIONS TRADITIONAL BANKING USERS USES WEB WITHDRAWAL WORLD DEVELOPMENT INDICATORS Microdata Set
Online Access:	http://documents.worldbank.org/curated/en/2012/06/16375298/financial-inclusion-africa-overview http://hdl.handle.net/10986/9335

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spelling	okr-10986-93352021-04-23T14:02:45Z Financial Inclusion in Africa : An Overview Demirgüç-Kunt, Asli Klapper, Leora ACCESS POINTS ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACCOUNT OWNERSHIP ASSET ACCUMULATION AUTOMATED TELLER MACHINES BANK ACCOUNT BANK BRANCH BANK BRANCHES BANK FINANCING BANK POLICY BANKS BARRIER BORROWING BROAD ACCESS CAPITALIZATION CHECKING ACCOUNT COMMERCIAL BANK COMMERCIAL BANK BRANCHES CREDIT ASSOCIATIONS CREDIT CARD DEBIT CARD DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DOCUMENTATION REQUIREMENTS DOMESTIC CREDIT EARNINGS ECONOMIC GROWTH EMPLOYMENT EMPLOYMENT GROWTH ENTERPRISE SURVEY ENTERPRISE SURVEYS ENTREPRENEURS ENTREPRENEURSHIP ENTRY BARRIERS EQUITY FINANCING EQUITY MARKETS EXTERNAL FINANCE EXTERNAL FUNDING FINANCES FINANCIAL ACCESS FINANCIAL DEPTH FINANCIAL PRODUCTS FINANCIAL SECTOR REFORMS FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINANCING OBSTACLES FINANCING SOURCES FIRM GROWTH FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SECTOR FORMAL SAVINGS GENDER GENDER GAP GROWTH OPPORTUNITIES GROWTH RATES HOUSEHOLDS INCOME INCOME INEQUALITY INEQUALITY INFORMAL LENDER INFORMAL SAVINGS INNOVATIONS INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL COMPARISON INVESTMENT FINANCING LEGAL CONSTRAINTS LIMITED ACCESS LINE OF CREDIT LINES OF CREDIT LIVESTOCK INSURANCE LOAN LOC MARKET CAPITALIZATION MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONES NEW PRODUCTS NEW TECHNOLOGIES OPEN ACCESS OUTSTANDING LOAN OUTSTANDING LOANS PRIVATE CREDIT PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT REGULATORY ENVIRONMENT RELIABILITY REMITTANCES RISK MANAGEMENT RURAL CLIENTS SAVINGS SAVINGS BEHAVIOR SECURITY RISKS SELF-FINANCING SHARE OF EQUITY SMALL ENTERPRISES SOURCE OF CREDIT STOCK EXCHANGES STOCK MARKETS STOCKS TELECOMMUNICATIONS TRADITIONAL BANKING USERS USES WEB WITHDRAWAL WORLD DEVELOPMENT INDICATORS Microdata Set This paper summarizes financial inclusion across Africa. First, it provides a brief overview of the African financial sector landscape. Second, it uses the Global Financial Inclusion Indicators (Global Findex) database to characterize adults in Africa that use formal and informal financial services and identify the barriers to formal account ownership. Next, it uses World Bank Enterprise Survey data to examine how the use of financial services by small and medium enterprises in Africa compares with small and medium enterprises in other developing regions in terms of account ownership and availability of lines of credit. The authors find that less than a quarter of adults in Africa have an account with a formal financial institution and that many adults in Africa use informal methods to save and borrow. Similarly, the majority of small and medium enterprises in Africa are unbanked and access to finance is a major obstacle. Compared with other developing economies, high-growth small and medium enterprises in Africa are less likely to use formal financing, which suggests formal financial systems are not serving the needs of enterprises with growth opportunities. 2012-06-29T20:34:27Z 2012-06-29T20:34:27Z 2012-06 http://documents.worldbank.org/curated/en/2012/06/16375298/financial-inclusion-africa-overview http://hdl.handle.net/10986/9335 English en_US Policy Research Working Paper; No. 6088 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS POINTS ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACCOUNT OWNERSHIP ASSET ACCUMULATION AUTOMATED TELLER MACHINES BANK ACCOUNT BANK BRANCH BANK BRANCHES BANK FINANCING BANK POLICY BANKS BARRIER BORROWING BROAD ACCESS CAPITALIZATION CHECKING ACCOUNT COMMERCIAL BANK COMMERCIAL BANK BRANCHES CREDIT ASSOCIATIONS CREDIT CARD DEBIT CARD DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DOCUMENTATION REQUIREMENTS DOMESTIC CREDIT EARNINGS ECONOMIC GROWTH EMPLOYMENT EMPLOYMENT GROWTH ENTERPRISE SURVEY ENTERPRISE SURVEYS ENTREPRENEURS ENTREPRENEURSHIP ENTRY BARRIERS EQUITY FINANCING EQUITY MARKETS EXTERNAL FINANCE EXTERNAL FUNDING FINANCES FINANCIAL ACCESS FINANCIAL DEPTH FINANCIAL PRODUCTS FINANCIAL SECTOR REFORMS FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINANCING OBSTACLES FINANCING SOURCES FIRM GROWTH FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SECTOR FORMAL SAVINGS GENDER GENDER GAP GROWTH OPPORTUNITIES GROWTH RATES HOUSEHOLDS INCOME INCOME INEQUALITY INEQUALITY INFORMAL LENDER INFORMAL SAVINGS INNOVATIONS INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL COMPARISON INVESTMENT FINANCING LEGAL CONSTRAINTS LIMITED ACCESS LINE OF CREDIT LINES OF CREDIT LIVESTOCK INSURANCE LOAN LOC MARKET CAPITALIZATION MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONES NEW PRODUCTS NEW TECHNOLOGIES OPEN ACCESS OUTSTANDING LOAN OUTSTANDING LOANS PRIVATE CREDIT PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT REGULATORY ENVIRONMENT RELIABILITY REMITTANCES RISK MANAGEMENT RURAL CLIENTS SAVINGS SAVINGS BEHAVIOR SECURITY RISKS SELF-FINANCING SHARE OF EQUITY SMALL ENTERPRISES SOURCE OF CREDIT STOCK EXCHANGES STOCK MARKETS STOCKS TELECOMMUNICATIONS TRADITIONAL BANKING USERS USES WEB WITHDRAWAL WORLD DEVELOPMENT INDICATORS Microdata Set
spellingShingle	ACCESS POINTS ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACCOUNT OWNERSHIP ASSET ACCUMULATION AUTOMATED TELLER MACHINES BANK ACCOUNT BANK BRANCH BANK BRANCHES BANK FINANCING BANK POLICY BANKS BARRIER BORROWING BROAD ACCESS CAPITALIZATION CHECKING ACCOUNT COMMERCIAL BANK COMMERCIAL BANK BRANCHES CREDIT ASSOCIATIONS CREDIT CARD DEBIT CARD DEMOGRAPHIC DEPOSIT DEPOSITS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DOCUMENTATION REQUIREMENTS DOMESTIC CREDIT EARNINGS ECONOMIC GROWTH EMPLOYMENT EMPLOYMENT GROWTH ENTERPRISE SURVEY ENTERPRISE SURVEYS ENTREPRENEURS ENTREPRENEURSHIP ENTRY BARRIERS EQUITY FINANCING EQUITY MARKETS EXTERNAL FINANCE EXTERNAL FUNDING FINANCES FINANCIAL ACCESS FINANCIAL DEPTH FINANCIAL PRODUCTS FINANCIAL SECTOR REFORMS FINANCIAL SERVICES FINANCIAL SUPPORT FINANCIAL SYSTEM FINANCIAL SYSTEMS FINANCIAL TRANSACTIONS FINANCING OBSTACLES FINANCING SOURCES FIRM GROWTH FORMAL FINANCIAL INSTITUTION FORMAL FINANCIAL SECTOR FORMAL SAVINGS GENDER GENDER GAP GROWTH OPPORTUNITIES GROWTH RATES HOUSEHOLDS INCOME INCOME INEQUALITY INEQUALITY INFORMAL LENDER INFORMAL SAVINGS INNOVATIONS INTERNAL FUNDS INTERNATIONAL BANK INTERNATIONAL COMPARISON INVESTMENT FINANCING LEGAL CONSTRAINTS LIMITED ACCESS LINE OF CREDIT LINES OF CREDIT LIVESTOCK INSURANCE LOAN LOC MARKET CAPITALIZATION MEDIUM ENTERPRISES MOBILE PHONE MOBILE PHONES NEW PRODUCTS NEW TECHNOLOGIES OPEN ACCESS OUTSTANDING LOAN OUTSTANDING LOANS PRIVATE CREDIT PRIVATE SECTOR PRIVATE SECTOR DEVELOPMENT REGULATORY ENVIRONMENT RELIABILITY REMITTANCES RISK MANAGEMENT RURAL CLIENTS SAVINGS SAVINGS BEHAVIOR SECURITY RISKS SELF-FINANCING SHARE OF EQUITY SMALL ENTERPRISES SOURCE OF CREDIT STOCK EXCHANGES STOCK MARKETS STOCKS TELECOMMUNICATIONS TRADITIONAL BANKING USERS USES WEB WITHDRAWAL WORLD DEVELOPMENT INDICATORS Microdata Set Demirgüç-Kunt, Asli Klapper, Leora Financial Inclusion in Africa : An Overview
relation	Policy Research Working Paper; No. 6088
description	This paper summarizes financial inclusion across Africa. First, it provides a brief overview of the African financial sector landscape. Second, it uses the Global Financial Inclusion Indicators (Global Findex) database to characterize adults in Africa that use formal and informal financial services and identify the barriers to formal account ownership. Next, it uses World Bank Enterprise Survey data to examine how the use of financial services by small and medium enterprises in Africa compares with small and medium enterprises in other developing regions in terms of account ownership and availability of lines of credit. The authors find that less than a quarter of adults in Africa have an account with a formal financial institution and that many adults in Africa use informal methods to save and borrow. Similarly, the majority of small and medium enterprises in Africa are unbanked and access to finance is a major obstacle. Compared with other developing economies, high-growth small and medium enterprises in Africa are less likely to use formal financing, which suggests formal financial systems are not serving the needs of enterprises with growth opportunities.
format	Publications & Research :: Policy Research Working Paper
author	Demirgüç-Kunt, Asli Klapper, Leora
author_facet	Demirgüç-Kunt, Asli Klapper, Leora
author_sort	Demirgüç-Kunt, Asli
title	Financial Inclusion in Africa : An Overview
title_short	Financial Inclusion in Africa : An Overview
title_full	Financial Inclusion in Africa : An Overview
title_fullStr	Financial Inclusion in Africa : An Overview
title_full_unstemmed	Financial Inclusion in Africa : An Overview
title_sort	financial inclusion in africa : an overview
publisher	World Bank, Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2012/06/16375298/financial-inclusion-africa-overview http://hdl.handle.net/10986/9335
_version_	1764409177344573440

Financial Inclusion in Africa : An Overview

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