Bernadette Deka-Zulu (PhD Researcher-Public Enterprise)The World Bank Group considers financial inclusion a key enabler to reduce extreme poverty and boost shared prosperity.Financial inclusion has been at the forefront of policy discussions in Zambia since 2005, when the first FinScope Zambia study was conducted to assess the access to financial products. Despite progress in the financial sector, the 2015 study showed that a significant portion of the adult population, 40.7%, still lacked access to basic financial services. This underscores the persistent challenge of financial exclusion and the need for continued efforts to improve financial access for all. In this article, we will delve into the history of financial inclusion in Zambia, the current state of financial inclusion, and the future prospects for increasing financial access and inclusion.So far, we have seen many institutions, including the Bank of Zambia, develop various financial inclusion based research and initiatives especially financial literacy programs, especially for women and young people. We […]
Inclusivity in Action: The Progress of Financial Inclusion in Zambia
