Financial Inclusion in Practice: The Role of Policy and Innovation among SMEs

Globally, about 2.5 billion people remain financially excluded, with the burden highest in Sub-Saharan Africa and Uganda, where many lack access to formal banking. Financial inclusion entails affordable, safe, and equitable access to diverse financial services, yet gaps persist due to weak infrastructure, low literacy, and institutional challenges. Evidence shows that policy interventions such as regulatory reforms, financial infrastructure development, and SME-focused support play a critical role in expanding access. At the same time, financial innovations, particularly mobile money, have transformed service delivery by improving affordability and reach. While countries like Argentina and Bangladesh demonstrate how policy and innovation can enhance inclusion, Africa still faces structural barriers. In Uganda, rapid adoption of mobile money has increased account ownership, but access alone does not guarantee meaningful inclusion. This book explores how policy frameworks and financial innovation interact to shape financial inclusion among SMEs, highlighting the need for balanced, inclusive strategies that go beyond access to ensure equitable and sustainable financial participation.

Pagina's: 76, Paperback, Scholars' Press