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High interest rates are threatening the gains made in financial inclusion over the past decade, with investors backing off riskier investments especially in inclusive fintech, as reported by Devex’s Shabtai Gold this week. While some regions have achieved robust progress — such as India, where nearly 80% of adults now have a bank account — others are lagging behind. Over half the population of sub-Saharan Africa, or about 530 million people, are still unbanked.
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About the author
Raj Kumarraj_devex
Raj Kumar is the President and Editor-in-Chief at Devex, the media platform for the global development community. He is a media leader and former humanitarian council chair for the World Economic Forum and a member of the Council on Foreign Relations. His work has led him to more than 50 countries, where he has had the honor to meet many of the aid workers and development professionals who make up the Devex community. He is the author of the book "The Business of Changing the World," a go-to primer on the ideas, people, and technology disrupting the aid industry.
