Financial inclusion success: What Nigeria can learn from Ghana
What's driving Ghana's financial inclusion success

Key questions this article answers:

  1. In 2010, Nigeria and Ghana were at par on financial exclusion rates. Nigeria’s 46% and Ghana’s 44% of adults didn’t have access to financial services. Yet today, Ghana has a 4% exclusion rate compared to Nigeria’s 36%. Why has Ghana progressed faster than Nigeria? 

  2. What key regulatory manoeuvres helped Ghana remove access barriers for its most financially vulnerable citizens?

​​​​​
Between 2010-2021, the population of financially excluded (persons lacking access to basic financial services, whether formal or informal) Ghanaian adults shrunk by -88%, while Nigeria’s grew by 3%.

 

 

These figures are close to embarrassing.

How did a nation less than a quarter of Nigeria’s size (that can barely get jollof rice right) become more successful at tackling financial inclusion?

To be fair, Nigeria’s rapidly growing population (2.4% vs Ghana: 2.0%) certainly doesn’t help matters. While we’ve seen some progress in narrowing the proportion of financially excluded

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Nchedolisa Akuma

Nchedolisa Akuma

Read Latest

Agriculture Transaction Brief: AgDevCo Sells Majority Stake in Zambia’s SFEL to Buya Bamba

PREMIUM - 18 MAR 2025

Technology Transaction Brief: Egyptian AI Startup WideBot Closes $3M Pre-Series A Round

PREMIUM - 17 MAR 2025

Weekly Africa Macro Update: March 10-14, 2025

PREMIUM - 17 MAR 2025

Consumer Goods Transaction Brief: IFC Provides $30M Loan to DPI-backed North African Retail Giant, Kazyon Group

PREMIUM - 14 MAR 2025

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download