Svotwa, Tendai Douglas, Makanyeza, Charles and Wealth, Eukeria (2023) Chapter 10. Financial inclusion and the socio-economic agenda in Africa: evidence from Botswana, Namibia, South Africa and Zimbabwe. In: Chitimira, Howard Tafara and Warikandwa, Tapiwa Victor, (eds.) Promoting and Prioritising Financial Inclusion in Southern Africa: A contemporary law and economics perspective. Juta, Cape Town, pp. 291-319. ISBN 978-1485150169; 978-1485150510

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Abstract

Academic discourse in the past two decades has focused on financial inclusion in various countries across the globe. Financial inclusion has taken centre stage due to the critical role that it plays in the socio-economic development and economic transformation of a country. Broadly defined, financial inclusion refers to account ownership by individuals held by financial institutions for the purposes of transacting. Financial inclusion alleviates poverty, reduces socio-economic inequalities, and promotes employment opportunities. However, despite the significant benefits of financial inclusion to a country, it is worrisome that within the context of Africa, financial banking systems have been found to be less inclusive as compared to those outside Africa. The main challenge has been that in most cases, financial institutions operate mainly in urban areas while the marginalised poor and rural communities are excluded from the formal financial systems. Such communities resort to the informal sector for financial accommodation which is normally pricey. This chapter focuses on financial inclusion and socio-economic transformation in Botswana, Namibia, South Africa, and Zimbabwe. Since most African countries are signatories to the 2015 United Nations Sustainable Development Goals, it is imperative that financial inclusion be taken seriously in addressing the socio-economic transformation of Africa.

Item Type:	Book Section
Uncontrolled Keywords:	financial inclusion, financial exclusion, socio-economic transformation, Africa, Southern African development community, Sustainable Development Goals
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HG Finance H Social Sciences > HJ Public Finance
Faculty / School / Research Centre / Research Group:	Greenwich Business School Greenwich Business School > Executive Business Centre
Related URLs:	Publisher
Last Modified:	15 May 2025 14:11
URI:	http://gala.gre.ac.uk/id/eprint/50447

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