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INTRODUCTION

Financial Inclusion is a catalyst for empowering individuals and communities worldwide and it is the access and usage of affordable financial services. Financial inclusion is the ability of creating a sustainable society inwhich all individuals can participate in the global economy and also benefit from the economy as well, and thsi financial inclusion helps in reducing poverty, and fostering social inclusion and also helps in promoting economic development.

It is also refers to the availability and usage of a very range financial services by all individuals and businesses regardless of the social economic status. The main objectives of financial inclusion is the ability to make sure all individuals have equal right in participating in the gormal financial system, this comprises of being having accessed to essential financial tools such as saving accounts, credit, insurance, and also payment services. And i will like to explain some of the importance of financial inclusion for us below 👇, stay tune.

IMPORTANCE OF FINANCIAL INCLUSION

Firstly, the main importance of this financial inclusion is the way it reduces large population of poverty in the society and it gives ways and opportunities for individuals to save, incest and build there financial cushion and also enable each individuals to manage risks, and also have a smoth consumptions. And when we look at it, it also helps in developing economic in many ways.

When individuals have access to financial services, it allows entrepreneurs to start and expand businesses, fostering econoic growth and also helps in creating enough job for the individuals. And do you know when individuals in the society are financially stable, thats when they can even think about savings and investments, so financial inclusion helps in taking care of these, and while people save and invest it also helps the development of the infrastructure.

Another importance of financial inclusion is the impact on gender equality inwhich it gives every gender there access to financial services and moreso the women, it allows them to gain their economic lives and also enhance their decision making power, so this makes them to also have ability to contribute to household income and community development.

GLOBAL EMPOWEMENT THROUGH FINANCIAL INCLUSION

When we're talking about global empowerment through financial inclusion, i will like to expand it in this way. The advent of mobile banking is one of the global empowerment through financial inclusion because it give all individuals to have access to the financial wealth through the financial institution without moving out there abode and they can perform lot of transactions that are needed to be done while at the financial institution premises and individuals can conveniently access there financial services and securely.

And another one is the government initiative inwhich many governments have recognized the importance of financial inclusion and it makes them to implement policies and programs to drives the progress of it in there country, they establish regulatory framework, promote financial literacy and consumer protection and also collaborate with Financial institutions and technology providers to expands access to financial services. And many country have been risen from there bad economy to good economy through the implementation of financial inclusion.

In conclusion, despite all the benefits, significant progresses there are some challenges facing global financial inclusion and these challenges includes limited infrastructure, lack of financial literacy, high cost of services and regulatory barriers. And these challenges, if we want to address it well it really requires governments, financial institutions and technology providers because it involves promoting financial education, expanding digital infrastructure, fostering innovation and ensuring a supportive regulatory environment.

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