Financial Inclusion and Poverty Reduction among Rural Women in Sub-Saharan Africa

Abstract

The study investigated the impact of financial inclusion on poverty reduction among rural women in sub-Saharan Africa using Nigeria evidence during the period of 2001 to 2022. The research specifically examines the effect of volume of deposit with commercial, micro loan, e-banking (POS and ATM), and non-interest banking on poverty reduction. The result of a multiple regression analysis using Ordinary Least squared OLS) method carried out with data collected from Central Bank of Nigeria (CBN) which covering a period of 22 years (between 2001- 2022) shows that both e-banking and non-interest banking have serious positive link with financial inclusion and have made significant impact on poverty reduction in Nigeria. Also deposit with commercial banks and micro loans has link with financial inclusion but has made no significant impact positive or negative on poverty reduction in Nigeria. Hence, the study recommended that the Government and Central Bank of Nigeria as policy maker and regulatory authority should provide a policy framework that will address the financial exclusion of low-income group particularly in the rural areas.