Understanding the Dynamics of Financial Inclusion in Tanzania: Pathways and Prospects

The recent emergence of financial inclusion has attracted the attention of policymakers and regulators in the financial sector globally. The financial sector worldwide is currently witnessing an outstanding improvement in access to and usage of tailored financial services, informed by a rapidly growing body of experience and knowledge.  Financial inclusion is now evolving as a growing priority worldwide, as evidenced by several commitments made by financial regulators from 35 developing countries. Such commitments include, but are not limited to, the Maya Declaration (2018) on financial education to the poor, the Pittsburgh Summit (2009) on improving access to financial services for the poor, and the Toronto Summit (2010) on expanding access to finance for household consumers and micro, small-, and medium-sized enterprises around the world.