Financial Inclusion in Africa

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Kallenbach, Maximilian Georg




Financial inclusion is a relatively new phenomenon. Today, more than sixty countries around the world have a financial inclusion strategy, and still, 1.7 billion people around the world remain unbanked. Various influences impact the degree of financial inclusion in a country, i.e. education. Although financial inclusion is most commonly found in developing countries, scholars have found that a lack of education is an explanation for financial exclusion in developed countries. The paper tries to answer the question; does more educational spending lead to more financial inclusion? Although there is evidence from different countries that education remains an important issue in the whole financial inclusion debate, this paper demonstrates that there is no direct relationship between governmental expenditures on education and financial inclusion. Still, the four-country analysis investigates various issues such as the role of government and concludes that financial inclusion does not always mean financial inclusion.


Public Administration
Business administration - Banking




Carleton University

Thesis Degree Name: 

Master of Arts: 

Thesis Degree Level: 


Thesis Degree Discipline: 

Political Science

Parent Collection: 

Theses and Dissertations

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