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Annals of Medicine and Medical Sciences
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Effect of Financial Inclusion on Educational Attainment in Sub-Saharan Africa

Annals of Medicine and Medical SciencesVol. 8, No. 11, (2024) November 24, 2024pp. 5902-5913DOI: 10.18535/sshj.v8i11.1472
194 85
Abstract

The objective of our study is to examine the effect of direct access to and use of formal financial services on educational attainment in sub-Saharan Africa. The paper uses a sample of 34 sub-Saharan African countries from different sources (WDI, GFDD,) for the period 2004-2022 for the analysis. The results of the basic model suggest that greater financial inclusion through improved access to credit positively and significantly affects the level of education in sub-Saharan Africa. The study suggests that sub-Saharan African countries can take advantage of financial inclusion to improve education. Therefore, policy makers and commercial banks should promote access to and use of financial services in sub-Saharan Africa (SSA).

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