penina26/financial-inclusion-africa

Financial Inclusion in Africa ## Project Overview Financial inclusion refers to the process of providing access to a range of financial services and products to individuals and communities, particularly those who are traditionally excluded from the mainstream financial system. Financial inclusion aims to promote financial stability, reduce poverty, and improve economic growth and development. The financial services and products that are typically provided as part of financial inclusion include savings accounts, credit, insurance, and payment services. These services can be offered through traditional financial institutions, such as banks and credit unions, or through newer digital channels, such as mobile banking and fintech platforms. ## Business Problem Financial inclusion remains one of the main obstacles to economic and human development in Africa. For example, across Kenya, Rwanda, Tanzania, and Uganda only 9.1 million adults (or 14% of adults) have access to or use a commercial bank account. Traditionally, access to bank accounts has been regarded as an indicator of financial inclusion. Despite the proliferation of mobile money in Africa, and the growth of innovative fintech solutions, banks still play a pivotal role in facilitating access to financial services. Access to bank accounts enable households to save and make payments while also helping businesses build up their credit-worthiness and improve their access to loans, insurance, and related services. Therefore, access to bank accounts is an essential contributor to long-term economic growth. ### Main Objective The main objective of this project is to create a machine learning model to predict which individuals are most likely to have or use a bank account. The models and solutions developed can provide an indication of the state of financial inclusion in Kenya, Rwanda, Tanzania and Uganda, while providing insights into some of the key factors driving individuals’ financial security. ### Specif …