| dc.description.abstract | Financial inclusion is the key to economic growth of countries. This is because access to finance
enables individuals be able to participate in inclusive growth. The access to financial inclusion is important
for financial development. The purpose of the paper was to establish the determinants of financial inclusion.
The following research question guided the study; what are the determinants of financial inclusion? The study
was a literature review of past studies on financial inclusion. Empirical journal articles were reviewed to
establish the determinants of financial inclusion. The paper established that factors that determine financial
inclusion are both demand related factors and supply related factors. The demand related factors include;
income of individuals or households, education, collateral, being in employment guarantee scheme, income
inequality, age, financial literacy, savings and gender. The supply related factors that determine financial
inclusion includes; high interest rates (affordable credit), innovation (agent banking and mobile banking),
ICT, bank branches, sensitization of financial products, advice on money management and debt counselling.
The other factors include; urbanization and enabling environment. The recommendation of the study was that
financial inclusion is key to economic growth and hence the government should put in place policies that
enhances financial inclusion. Also the demand related factors and supply related factors should be looked at
in order to align them in such a way that they positively promote financial inclusion. | en_US |
