Barriers to women’s financial inclusion in Burkina Faso

Abstract

ABSTRACT This paper investigates the barriers to women’s financial inclusion in Burkina Faso. We focus on both demand and supply side factors. Data from Findex for the years 2014, 2017 and 2021 are used. Statistical analysis show that lack of money and distance are the main barriers to women’s financial inclusion in 2014, 2017 and 2021. Interviews with women during the focus discussion groups revealed that access to formal financial products remains a difficulty for these women working in the informal sector; social pressure, particularly the behavior of husbands against the economic emancipation of women, are barriers to the financial inclusion of these women; poor information sharing and financial education are also barriers to financial inclusion for these women. To promote women’s financial inclusion, policies should focus on reducing barriers. To do this, education and access to the decent labor market are necessary to overcome the constraint of lack of money. Regarding distance, the strengthening of mobile banking must continue. To achieve women’s financial inclusion, banks need to create products tailored to women’s needs.