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A functional financial sector is a major driver of economic development. The purpose of this paper is to provide a comprehensive understanding of existing research findings, gaps in knowledge and emerging trends in the field of banking and finance.

By conducting a systematic literature review, a total of 98 peer-reviewed articles whose focus and relevance match with the subject matter were reviewed and synthesised to answer the research questions. Multiple regression was also carried to investigate the relationship amongst the identified probable factors affecting financial inclusions.

The outcome of this study highlighted some factors mitigating the growth of the banking sector in the Sub-Saharan Africa (SSA). These include excessive or stringent regulations, market segmentation, high interest rates, information asymmetry, low credit status and uneven distribution of credit amongst others.

Some of the policy recommendations that could aid the development of the banking sector in SSA include: development and deepening of interbank markets, financial inclusion, improvement of overall market efficiency through redistribution of liquidity within the banking system, improvement of price and encouragement of competition. This study recommends financial inclusion by formulating policies that balances the capital adequacy requirements with the risk of insolvency to ensure credit flows and promotes financial stability via effective operations financial institutions.

This study contributes valuable insights to the understanding of banking and financial regulations in SSA, informing both academic research and policy development in the region.

This paper studies the effect of digital financial inclusion in banking on the poor and deprived populations of African emerging economies from 1997 to 2023.

Automated teller machines, mobile payments and mobile money transactions measure digital financial inclusion. Household consumption expenditure proxies poverty reduction. The autoregressive distributed lag analyzes the study.

The results indicate that automated teller machines, mobile money transactions and financial deepening positively affect poverty reduction, while mobile payments negatively affect poverty reduction. Digital financial inclusion decreases poverty via increased investment and empowerment.

Digital financial products and services should be expanded to all population segments in the economies. The governments should improve the quality and quantity of institutions that guarantee the operation of digital financial activities through the enforcement of law and order. The quality and quantity of mobile money transactions and financial deepening should be increased. The costs and charges involved in using automated teller machines and mobile payments should be regulated to relieve the burden on the population. The government should facilitate access to digital financial services via power supply, transport and telecommunication networks. Banks and telecommunications service providers should improve the payment system network to ensure cost-effective, convenient and secure financial service delivery. The digital infrastructure and financial services markets should be enhanced to fully capture the gains of financial inclusion and reduce poverty.

A literature review provides studies with conflicting findings on the effect of digital financial inclusion on poverty reduction. This study supports that digital financial inclusion decreases poverty.

The main purpose of this study was to investigate the level of financial literacy and its determinants among self-employed workers in the Ghanaian economy.

The study used a non-random sampling technique known as quota sampling for the purpose of selecting respondents from the targeted population. The study used an instrumental variable Tobit regression model to investigate the determinants of financial literacy among self-employed workers in the Ghanaian economy.

The study found that the level of financial literacy of the self-employed workers in the Ghanaian economy is low. The study also revealed that financial knowledge, financial attitude, financial behaviour, education and age have a statistically significant influence on financial literacy.

This paper indicates that the level of financial literacy of the self-employed workers in the Ghanaian economy is low and requires self-employed workers in Ghana to attend workshops and do short courses in finance, banking and economics organised by experts in those areas to increase their level of financial literacy.

Limited research exists on the level of financial literacy and its determinants among self-employed workers in developing countries. Therefore, I conducted this study to address the research gap in financial literacy by examining the level of financial literacy and the various factors that impact the financial literacy of self-employed workers in Ghana.