Countries
Every country tells a story

The path to financial inclusion is distinct for the twelve financial inclusion countries. Each faces different marketplace barriers and opportunities, and the profile of consumers on adoption ranges from early adopters to more of the broad-based population. While the path to financial inclusion differs by country, the goal of improving lives is consistent. Please explore the story each country tells by clicking on the links below.

Bangladesh
Benin
Ghana
India
Indonesia
Kenya

Nigeria
Pakistan
Rwanda
Senegal
Tanzania
Uganda

Bangladesh leads FII Asian countries’ mobile money usage, although most transactions are conducted through unregistered accounts.

While Benin has a low overall financial inclusion rate, there exists a sizable portion of the population that possesses the readiness factors.

In Ghana, the digital financial services (DFS) sector grew from an estimated 150,000 active users in 2011 to more than 4 million in 2015.

Over 6 in 10 Indian (63%) are financially included and have bank accounts (62%). Still nearly 2 in 3 citizens (65%) live below the $2.50/day poverty line.

With the highest income per capita among the 8 FII countries, Indonesia promises great potential for financial inclusion—26% of adults are financially included.

Despite extreme poverty Kenya leads the developing world in the use of mobile money.

As Africa’s largest economy, Nigeria has potential to drive consumers toward financial inclusion, yet internal strife and economic instability make progress uncertain.

With more than 180 million adults but only 1 in 10 (9%) financially included, Pakistan is one of the largest unbanked countries in the world.

Mobile money services were introduced in Rwanda in 2010, and their use has grown tremendously (1 in 4 Rwandans now use the services).

Senegal has the lowest rate of formal financial account ownership of all African FII/MM4P countries.

Five in 10 Tanzanians (54%) are currently financially included, mainly through mobile money accounts (53%).

Mobile money is leading the way to Ugandan financial inclusion, and 4 in 10 adults (40%) have financial services accounts.

Topics

The factors involved in financial inclusion are numerous. This section contains the topics most closely related to bringing individuals into the world of digital financial services. Each contains pieces of the puzzle that, once connected, yields greater inclusion and better lives. As you explore these topics please note how having data offers the ability to draw a clearer picture of the road to financial inclusion.

Agriculture
Banking
Financial Literacy
Gender
Mobile Money
Mobile Phones

Non-Bank Financial Institutions
Over-the-Counter
Youth
Economic Empowerment
Financial Health

Agriculture is the bedrock of many of FII countries’ economy; yet agricultural workers tend to be poorer, less financially included, and older than other workers.

Banking plays a key role in India, Indonesia and Nigeria’s move toward financial inclusion. In Bangladesh and East African countries, mobile money is testing bank relevance.

Financial Literacy

The foundation for financial literacy, basic numeracy, paves the road to financial inclusion.

Women lag men in the use of financial tools across every measure, and closing the gender gap requires motivating women to adopt financial mechanisms.

Using a simple mobile phone to conduct financial transactions has help bring financial inclusion to millions of consumers in the developing world.

Research shows the most effective way to significantly expand lower-income populations’ access to formal financial services is through a digital channel like a cell phone.

Non-Bank Financial Institutions

Non-bank financial institutions (NBFIs) vary from country to country by provider type, service option, and marketplace presence.

Over-the-Counter

Many consumers first interact with digital financial services by reaching out to mobile money agents to help send or receive money through an OTC transaction.

Digitally more active yet financially less secure, youth (ages 15-24) are a particularly important segment to target for financial inclusion.

Economic Empowerment

FII found that being financially included is associated with an increase in economic empowerment, but the increase is smaller for women versus men.

Financial Health

While the gains seen vary by country, on average, financial health increases with greater education.

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Country-Specific Reports

Bangladesh
Benin
- 2015: Consumer Behaviors in Benin - Analysis and Findings
Ghana
- Financial Inclusion in Ghana (2015)
India
Indonesia
Kenya
Nigeria
Pakistan
Rwanda
- Financial Inclusion in Rwanda (2015)
Senegal
- 2015: Consumer Behaviors in Senegal- Analysis and Findings
Tanzania
Uganda

Cross-Country Reports

Mapping the Global Financial Inclusion Gender Gap: Analyzing FII Data from 2013-2015
2015 Infographic: A Digital Ecosystem Takes Shape in Tanzania
Poster: Why the Financial Inclusion Insights Program?
2015 Infographic: Closing the Gender Gap in Financial Inclusion
Cross-Country Comparison: Financial Inclusion in Developing Markets (2015)
Poster: Defining Financial Inclusion - Indicators in 8 Countries (2015)
Infographic: Converting Mobile Money Awareness to Use
What’s driving financial inclusion in South Asia? Understanding country-specific trends and opportunities in Pakistan, Bangladesh and India (2015)
Infographic: Dormant Bank Accounts in India
Poster: Dispelling Mobile Money Myths (2014)
Cross-Country Comparison: Financial Inclusion in Developing Markets (2015)
Poster: Defining Financial Inclusion - Indicators in 8 Countries (2014)

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