The Interactive Effects of Financial Inclusion and Women Political Empowerment on Health Outcomes in Africa

Abstract

In line with Sustainable Development Goal (SDG-3), this study probes the role of financial inclusion in the relationship between women political empowerment and health outcomes in 39 African nations. Applying panel estimation technique on data spanning over a period of 2004-2020, the study's findings are as follows: Women political empowerment promotes good health outcomes. Financial inclusion empowers women in politics to enhance sound health conditions. Further analysis reveals that the findings are more pronounced in North, Southern, and Central African regions, implying that the results are heterogeneous across the regions. The study concludes that financial inclusion strengthens political empowerment of women by granting financial accessibility for civil liberties, civil society participation, and participation in politics. Therefore, women with adequate access to formal financial services have higher economic and financial freedom to participate in politics and demand for sound health conditions for the national wellbeing and towards the achievement of SDG-3.