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Table I.2 : Examples of Available Demand-Side Data on Financial Inclusion
Although supply-side data has good coverage of the prevalence of financial services, it does not tell us much about access and usage, or about why people do or do not use formal services. While the datasets listed above contain a few data points from most African countries, data remains sparse for countries that have historically been conflict-affected. Data is especially lacking for some countries in Central Africa and the Horn of Africa. Since central banks are a primary provider of financial data, country officials may find that the information is not granular enough and does not extend far beyond what is available at the national level. While there is relatively good data coverage of banks, data on prevalence, deposits, loans, and other indicators from cooperatives, microfinance institutions (MFIs), and insurance providers is harder to find. Information on regulations for consumer protection is also lacking.
3.2 Demand-Side Data
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Data on user perspectives in Africa is relatively more robust and continuously growing, per Table I.2. For instance, FinScope surveys (demand-side surveys implemented by FinMark Trust) offer a wealth of demand-side information about African financial systems. Additionally, the Global Findex, released in spring 2012, is an important recent contribution providing demandside data on financial usage from 148 countries, including 42 African countries.
Table I.2 : Examples of Available Demand-Side Data on Financial Inclusion
Survey Sampling unit Africa coverage Focus Global Findex Individuals 42 African countries Access and usage
FinScope Individuals 15 African countries from Sub-Saharan Africa Use and perceptions of financial services
Financial Diaries Households and individuals South Africa and Kenya In-depth analysis of financial portfolios and behaviors of lowincome people
World Bank Living Standard Measurement Survey- LSMS Households Côte d'Ivoire, Ghana, Malawi, Morocco, Nigeria, South Africa, Tanzania Income, housing, migration, and use of financial services
World Bank Enterprise Surveys Representative sample of firms 38 African countries Access to finance, corruption, performance, competition, and more
OECD Financial Literacy Pilot Individuals South Africa
Source: Authors’ compilation from various datasets. Financial literacy and capability across different cultural environments
