In 2011, the Nigerian government launched a financial inclusion initiative and set a target to include 80% of the country’s adult population. Although only a target of 64% was met by the end of the decade, one positive from the exercise is that achieving financial inclusion across the country is still a continuous process that has seen fintechs take part alongside banks in recent years.
Agency banking upstarts are the main innovators in this space. Their branchless banking system, which includes thousands of physical agents, provides financial services to the unbanked and underbanked in
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