Although not a signer of the Maya Declaration, over the past few years Turkey has shown a strong commitment to "include outsiders of the financial system and increase the quality and use of existing products and services”. Yet, the country still lags behind its upper middle-income peers when it comes to the percentage of adults with accounts at formal financial institutions by nearly 14 percent.
As Myanmar continues its transition to a market-oriented economy, people hope that the growth in GDP will translate to improved living standards for the entire population of 54 million. In order to encourage and enable inclusive growth, stakeholders within the public and private sectors should turn their attention to the provision of formal financial services.
The central role of digital financial services in Senegal has, if nothing else, become more defined as the market continues to evolve. The data we collected shows that over 81 percent of financial access points belong to mobile network operators and, additionally, mobile money access points grew by 37 percent over the past year.
Benin is considered a nascent market when it comes to digital financial services but that may be starting to change. Since we last updated the Interactive Dashboard for Benin in 2016 (based on 2015 data), mobile money access points have increased by 118 percent.
In 2012, our team at MIX embarked on a new challenge to fill a pressing need: Reduce the information gap for financial inclusion.
Since 2013, MIX has been collecting, analyzing and mapping financial inclusion data for over 20 countries. One thing we have learned over the years is that there are many obstacles for central banks to overcome before getting started with geospatial data.
The new government in Benin has ambitious plans for the economy. Addressing financial inclusion should be a key component.
In early December, MTN Rwanda announced it surpassed 1 million active mobile money users, a testament to the important contribution digital financial services (DFS) are making to inclusive finance.