Financial Inclusion in Niger: Challenges and Opportunities: Niger

Financial inclusion can increase economic growth and productivity and reduce poverty and inequality by helping people and firms—particularly SMEs—to save and invest, smooth consumption, and better manage financial risks.
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Volume/Issue: Volume 2023 Issue 007
Publication date: February 2023
ISBN: 9798400235726
$15.00
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Topics covered in this book

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Finance , Money and Monetary Policy , International - Economics , Demography , Financial Inclusion , Financial Institutions , Niger , Niger's lag , development agenda , Niger banking sector , MFI sector NPL ratio , BCEAO MFI , IMF staff calculation , Digital financial services , Digital currencies , Global

Summary

Financial inclusion can increase economic growth and productivity and reduce poverty and inequality by helping people and firms—particularly SMEs—to save and invest, smooth consumption, and better manage financial risks. This paper highlights Niger’s lag compared to other WAEMU countries in terms of access to and use of formal financial services, including for women and youth, and underscores key demand and supply side challenges to financial inclusion as well as structural impediments. It lays out key priorities for Niger to harness the potential of greater financial inclusion to support the country’s development agenda, including efforts to tackle low financial literacy, promote digitization, and address informality.