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Akinbowale, Akinbowale (2024) Investigating the Level of Financial Inclusion in the African Continental Free Trade Zone Areas (AfCFTA). Masters thesis, Dublin, National College of Ireland.
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Abstract
An economy is inclusive where the financial system is readily accessible, and affordable to end users regardless of their economic strata. Furthermore, the integration of inclusive economies through a common theme like trade openness is advantageous. It strengthens access to credit, innovation, and poverty reduction. Nonetheless, the level of financial inclusion in the African Continental Free Trade Area (AfCFTA) has not exactly been researched, providing avenues for future study. This study employed the two-staged robust principal component analysis (rPCA) to assess the level of financial inclusion in AfCFTA member states over 2011, 2014, 2017 and 2021. Leveraging metrics (quality, usage and access) provided by the Global Partnership for Financial Inclusion (GPFI) and the World Bank, the data utilized were provided by World Bank FINDEX and International Monetary Fund Financial Access Survey (IMF FAS). Evidenced by very low inclusion scores across all countries, the empirical result indicates that the quality of financial services is the main barrier to achieving a highlevel of financial inclusion in AfCFTA. However, Seychelles, Mauritius, Kenya, South Africa, Nigeria, and Capo Verde are highly included countries, driven by increased access to funds, and banking products which facilitate cross-border trade. The result reveals that high transaction costs and lack of confidence in the banks are the biggest inclusion challenges in AfCFTA. This research offers key insights for policymakers and FinTech innovators. Future studies should examine trade’s impact on financial inclusion under AfCTA.
| Item Type: | Thesis (Masters) |
|---|---|
| Supervisors: | Name Email Onwuegbuche, Faithful UNSPECIFIED Cosgrave, Noel UNSPECIFIED |
| Subjects: | D History General and Old World > DT Africa H Social Sciences > Economics H Social Sciences > HG Finance > Fintech T Technology > T Technology (General) > Information Technology > Fintech H Social Sciences > HD Industries. Land use. Labor > Trade Regulation |
| Divisions: | School of Computing > Master of Science in FinTech |
| Depositing User: | Ciara O'Brien |
| Date Deposited: | 02 Aug 2025 11:59 |
| Last Modified: | 02 Aug 2025 11:59 |
| URI: | https://norma.ncirl.ie/id/eprint/8411 |
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