21-27 December | Financial Inclusion Weekly News

AFRICA

• Morocco - Visa partners with NAPS to advance financial inclusion through enhanced digital payment solutions for underserved groups. Le Matin. Bank Al-Maghrib supports rural women entrepreneurs in achieving financial inclusion through tailored tools and training. Le Matin
• Algeria - Expanding financial services accessibility stabilizes Algerian banks, with statistical analyses emphasizing the economic benefits of inclusive financial systems. ResearchGate
• Egypt – The Central Bank of Egypt has launched a financial literacy campaign to promote banking services awareness, supported by partnerships with the European Union , Egyptian Banking Institute , and GIZ Egypt . Daily News Egypt
• Mauritania – The International Monetary Fund report discusses tailored policies to boost financial stability and inclusion, addressing challenges unique to the region. IMF.
• C?te d’Ivoire - A training program for 1,000 women entrepreneurs aims to empower them through enhanced financial literacy and resources. Linfodrome. Coris Bank International C?te D'Ivoire opens in Anyama, promoting financial inclusion and access to essential banking services for underserved communities. Fratmat
• Nigeria – PalmPay is recognized for its outstanding role in advancing financial inclusion, leveraging technology to reach underserved populations. BrandCom. Analysts predict 2025 to be a transformative year for Nigeria's financial services, driven by technology adoption and policy changes aimed at enhancing accessibility. Business Day Nigeria. Trust issues and inefficiencies hinder financial inclusion, leaving over ?4.3 trillion outside formal banking systems, and highlighting a need for stronger financial literacy and targeted policies. The Guardian Nigeria. S Stanbic IBTC Pension Managers received recognition for their initiatives promoting financial inclusion, showcasing leadership in bridging pension access gaps. Nigerian Tribune. Traditional banks in Nigeria fail to cover over 300 LGAs, exposing a significant financial inclusion gap that fintech solutions aim to address. Zawya
• Ethiopia - Financial inclusion positively impacts the financial performance of Ethiopian commercial banks, revealing a strong case for integrating underserved populations into banking ecosystems. ResearchGate. Interoperability reforms in payment systems are driving inclusive financial practices, addressing challenges of accessibility and efficiency. Shega
• Uganda – The central bank's digital currency initiative highlights the country’s commitment to modernizing payments and enhancing financial inclusion. Monitor
• Tanzania – NMB Bank 's savings campaign enhances financial inclusion by encouraging secure banking habits among underserved populations. Daily News
• Zimbabwe – Challenges in the Zimbabwean agriculture sector continue as smallholder farmers face limited access to markets and financial services, impacting growth and food security. NewsDay Zimbabwe
• Madagascar - The government launches a national financial inclusion strategy for 2024–2028 to boost access to financial services. Midi Madagasikara

Regional

• Financial inclusion remains critical for driving economic growth in Central Africa, with greater efforts needed to integrate marginalized communities into formal financial systems. Biometric Update

MIDDLE EAST

• Saudi Arabia – Open banking efforts position the nation as a global leader, integrating innovation and strategic vision to advance financial ecosystems. The Fintech Times
• Bahrain - The National Bank of Bahrain drives financial sustainability by promoting inclusive banking practices and fostering SME growth, aligning with national development goals. Oxford Business Group
• Qatar – Digital financial inclusion strengthens climate resilience by ensuring vulnerable populations can access financial tools to adapt to climate change. Gulf Times
• UAE – Wall Street Exchange - A FINTX Company partners with TerraPay to enable seamless cross-border payments, advancing financial inclusion in underserved markets. MENA FN

Regional

• Digital wallets and fintech innovations empower the unbanked, reshaping finance by offering accessible and inclusive solutions across underserved regions. Economy Middle East

LATIN AMERICA & THE CARIBBEAN

• Mexico – COPRED and INAE INSTITUTO NACIONAL DE LA ECONOMIA SOCIAL push for a more inclusive economy, emphasizing equitable access to financial services to boost national growth and reduce inequality. OEM. H. Ayuntamiento de Hermosillo hosts events on financial inclusion, addressing challenges and fostering dialogue on expanding access to banking for marginalized groups. Termómetro en Línea.
• Colombia – Banco de Bogotá and Grupo Aval are at the forefront of financial inclusion, offering innovative banking solutions and expanding outreach to underserved populations. Latinpyme. Banco Contactar outlines its 2025 goals, prioritizing deeper technological integration to enhance financial inclusion and customer accessibility. Redmas. Colombia's future of finance in 2025 focuses on innovation and trends like digital banking and AI-powered financial services, shaping a more inclusive economy. América Retail.
• Chile – The Ministerio de Hacienda - Chile hosted its annual advisory session to discuss economic strategies, including initiatives to support small and medium enterprises (SMEs). Hacienda.
• Argentina – Yolo, a tool introduced by Hawk group, provides transformative financial inclusion solutions, focusing on digital tools to empower underserved communities and modernize banking systems. Tecnogaming.

ASIA

• Georgia – Japan’s Gojo & Company, Inc. , an impact investor, has acquired equity in Georgia’s Credo Bank / ????? ????? , reinforcing its commitment to financial inclusion and SME support in emerging markets. Forbes Georgia
• India - 世界银行 , with a $2.73 million grant from the Japan Social Development Fund and support from the Government of Japan, launched the "India SEWA 2025" project to boost digital financial service usage among women in informal sectors in selected Indian states.. World Bank. A study highlights Indian states' varied financial inclusion performance, recommending tailored strategies for improving supply and demand-side factors. ResearchGate. India achieves a major milestone in financial inclusion with over 500 million accounts opened under the PMJDY (Pradhan Mantri Jan Dhan Yojana) scheme, signaling transformative growth for unbanked communities. PIB. Aditya Birla Capital partners with the Open Network For Digital Commerce (ONDC) to expand financial services access and promote digital innovation. SME Street. Fintech is closing the financial inclusion gap in rural areas by enabling digital payment systems and microcredit access, empowering underserved communities. CIOL
• Nepal – Nepal's economy sees steady recovery post-COVID, with increased remittance inflows supporting household consumption, although experts urge diversification of economic activities for sustained growth. Khabarhub
• Bangladesh – Empowering the youth with financial literacy is laying the groundwork for a knowledgeable and self-reliant future generation. The Daily Star
• Cambodia – Apas Port 's $20M vehicle loan initiative, powered by Harvest Flow on Plume , aims to boost financial inclusion in emerging markets. PR Newswire,
• Philippines – GCash highlights Mindanaoan communities driving digital innovation for financial inclusion, emphasizing local success stories in mobile payment adoption. Mindanao Times

Regional

• Financial inclusion is growing across Latin America, with trends showing increased access to banking and digital solutions. Mobile wallets and microloans play a critical role in enhancing financial participation. Marketdata.
• Trust and inclusive policies are driving financial inclusion, enabling access to essential financial services across Central Asia and the Caucasus region. Devdiscourse

REST OF THE WORLD

• Netherlands – Queen Máxima advocates for strategies to improve financial health globally, emphasizing education and inclusion for long-term resilience. The Banker.
• Germany – The Single Resolution Board releases its 2025 work program, focusing on banking sector stability and resolution planning across Europe. Mondaq
• Belgium - New municipal majorities prioritize financial inclusion, aiming to address socioeconomic disparities and enhance access to financial services across communities. La Libre
• Luxembourg - Financial inclusion initiatives are expanding beyond traditional banking to encompass digital and social innovations. PaperJam
• France - Recommendations for inclusive finance call for measures to improve savings accessibility and financial inclusion for marginalized populations. Jean Jaurès Foundation. International Banking and Finance Institute (IBFI) releases its 2025 flipbook, detailing innovative approaches to financial inclusion and systemic challenges. Banque de France
• Spain – CaixaBank continues to rank as one of the most sustainable banks globally, leveraging its sustainability efforts to promote financial inclusion. CaixaBank.
• United States – U.S. Commodity Futures Trading Commission adopts innovative measures to safeguard the financial ecosystem while addressing evolving risks in commodity markets. CFTC. The Federal Reserve Bank of St. Louis 's Office of Minority and Women Inclusion highlights diversity-driven initiatives in banking, fostering inclusive economic participation. St. Louis Fed. Corporate Transparency Act reporting requirements are reinstated, mandating businesses to disclose ownership information to counter illicit activities. Norton Rose Fulbright. Lendmark Financial Services opens its 52nd branch in Georgia, marking continued growth in consumer lending services. Morningstar
• United Kingdom – Progress Together and BDO highlight the importance of auditing Diversity, Equity, and Inclusion (DEI) to promote sustainable growth in financial services. Their approach aims to create equitable opportunities across the sector. BDO. The Bank of England and Financial Conduct Authority review aims to strengthen collaboration on payment systems, aligning regulatory efforts to support financial innovation. FCA. The Financial Inclusion Committee's inaugural meeting outlines priorities to tackle exclusion and improve access to financial services for vulnerable groups. GOV.UK. The Banker contrasts approaches in innovation and regulation, identifying stagnation risks for the UK amidst global financial shifts. The Banker. Ageas UK partners with Saga plc. for an innovative insurance partnership, aiming to enhance services for senior customers. A&O Shearman. Yasmin Qureshi MP advocates for free debt advice services, emphasizing their critical role in tackling financial hardship. The Bolton News. Television presenter Nana Akua discusses the implications of diversity and inclusion on societal cohesion, advocating for thoughtful implementation. GB News. The closure of Keynsham’s last Halifax bank has been postponed, providing temporary relief to residents reliant on in-person financial services. Keynsham Voice

GLOBAL

• Real-time payments are transforming financial inclusion by enabling faster, cost-effective transactions, empowering individuals and businesses, and fostering economic participation. Tekedia.
• A study examines the role of AI in enhancing financial access, demonstrating how machine learning can optimize credit scoring models. ScienceDirect.
• Neobanks increasingly adopt eSIMs as part of fintech-telco convergence, enhancing customer experience and digital financial services reach. Omdia
• Financial inclusion research since the SDGs' adoption highlights gaps in access and a growing need for targeted strategies, especially in underserved regions. ResearchGate
• 2025 may be a breakthrough year for open banking, unlocking widespread data-sharing frameworks and fostering innovation in financial ecosystems. PYMNTS
• Blockchain technologies bridge financial gaps by enabling seamless transactions and reducing reliance on traditional financial systems, as noted by Stellar Development Foundation . HackerNoon
• 2024’s top fintech partnerships showcase collaborations that redefine financial inclusion, highlight innovation, and expand access to financial services worldwide. FinTech Futures
• Key cryptocurrency trends for 2024 include increased institutional adoption, regulatory clarity, and advancements in decentralized finance (DeFi). Forbes
• Fintech company QI Tech has launched a lifestyle super-app integrating financial and non-financial services to improve digital inclusion. Travolution
• Web3 advancements in tokenization and digital identity are predicted to revolutionize finance by 2025, enabling secure, decentralized systems for individuals and businesses. The Fintech Times
• The great wealth transfer and shifting Gen Z loyalties will reshape brand and customer dynamics by 2025, demanding innovative strategies. The Drum

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Disclaimer:
The Financial Inclusion Forum compiles news from various sources to provide a comprehensive overview of recent developments in financial inclusion. While we strive for accuracy, the views expressed in these articles are those of the original authors and do not necessarily reflect the views of the Financial Inclusion Forum or its members. We do not assume responsibility for the content or accuracy of external websites.