The Global Findex Database: Financial Inclusion in Sub-Saharan Africa

Measuring the extent of financial inclusion in Sub-Saharan Africa
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This note features Global Findex data on financial inclusion in Sub-Saharan Africa. It is based on more than 35,000 interviews across 37 economies in the region.The Global Findex database presents indicators to measure how people in 148 economies save, borrow, make payments, and manage risk. These new indicators are constructed with data from a survey carried out in 2011 by Gallup, Inc. as part of its Gallup World Poll. Findings include:

  • About 24% of adults in Sub-Saharan Africa have an account at a formal financial institution, and 16% use a mobile phone to pay bills or send or receive money;
  • There are deep disparities across subregions and individual characteristics in how adults use financial services;
  • Most frequently cited reason for not having a formal account is lack of enough money to use one;
  • Most adults with a formal account make deposits and withdrawals over the counter at their financial institution.

The Global Findex database can be used to track the effects of financial inclusion policies within the region and develop a deeper and more nuanced understanding of how Africans save, borrow, make payments, and manage risk.

About this Publication

By Demirguc-Kunt, A. & Klapper, L.