Nigeria - Enhancing financial access in northern Nigeria through female agent networks

Despite being the continent’s largest economy, access to financial services in Nigeria is still a challenge for millions of people, particularly in rural areas, leading to an estimated 55% of the total population remaining unbanked (EfFInA Access to Financial Services in Nigeria Survey 2020). Recent research has highlighted challenges women in northern Nigeria are facing, including poverty, a lack of financial empowerment, a lack of opportunity to compete in business, a lack of access to credit facilities and high unemployment. It is, however, a region with a high level of potential demand despite insufficient financial access points and there is growing evidence that increasing the number of women agents could attract more female clients due to social norms and safety concerns about interacting with male agents. This grant supports Y’ello Digital Financial Services (YDFS) to facilitate greater gender inclusion by exploring the potential role of women in agency banking to increase women’s adoption of digital financial services. The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services.