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Financial Inclusion Challenges and Prospects During the COVID-19 Pandemic: Insights from Botswana, Namibia, South Africa and Zimbabwe

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Financial Inclusion and Digital Transformation Regulatory Practices in Selected SADC Countries

Part of the book series: Ius Gentium: Comparative Perspectives on Law and Justice ((IUSGENT,volume 106))

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Abstract

Financial inclusion is a process that enables the ease of access, availability and usage of formal financial services for all members of an economy. It is a United Nations Sustainable Develop Goal (SDG) earmarked to alleviate poverty and income inequality. As such, financial inclusion has attracted the attention of many researchers and policymakers. However, the outbreak of the COVID-19 pandemic has brought the whole world to a standstill. It has impacted many facets of the economy. The pandemic has reshaped the financial services sector. Financial inclusion is one facet of the economy that has been affected positively and negatively by the pandemic. This chapter explores the literature on financial inclusion and its challenges and opportunities induced by COVID-19. The chapter further explains the challenges and prospects of financial inclusion due to the COVID-19 pandemic. It concludes by illuminating future research directions.

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Notes

  1. 1.

    Arunachalam and Crentsil (2020), p. 33. See also Mogaji (2020), pp. 57–63; and Ozili (2020).

  2. 2.

    Sarma and Pais (2011), p. 613. See also Matongela (2014), p. 71.

  3. 3.

    Kasradze (2020), p. 74.

  4. 4.

    Ayadi and Shaban (2020).

  5. 5.

    Matongela (2014), p. 71.

  6. 6.

    Demirgüç-Kunt and Klapper (2013), p. 280.

  7. 7.

    Khan et al. (2021). See also Menyelim et al. (2021), p. 1.

  8. 8.

    Turegano and Herrero (2018), p. 4.

  9. 9.

    Park and Mercado (2018), p. 2.

  10. 10.

    Gutiérrez-Romero and Ahamed (2020), p. 37.

  11. 11.

    Ayadi and Shaban (2020).

  12. 12.

    Kasradze (2020), p. 74.

  13. 13.

    Ayadi and Shaban (2020).

  14. 14.

    Gutiérrez-Romero and Ahamed (2020), p. 37.

  15. 15.

    Hasheela (2013), p. 12. See also Mukong et al. (2020), p. 151.

  16. 16.

    Manyati and Mutsau (2021).

  17. 17.

    Arunachalam and Crentsil (2020), p. 33.

  18. 18.

    Manyati and Mutsau (2021). See also Ozili (2020).

  19. 19.

    Ozili (2020).

  20. 20.

    Ozili (2020).

  21. 21.

    Ozili (2020).

  22. 22.

    Arner et al. (2020).

  23. 23.

    Manyati and Mutsau (2021).

  24. 24.

    Arunachalam and Crentsil (2020), p. 33. See also Dzingirai (2021) Chapter 3; Gutiérrez-Romero and Ahamed (2020), p. 37; Manyati and Mutsau (2021); Ozili (2020).

  25. 25.

    Ayadi and Shaban (2020), p. 16.

  26. 26.

    Knotek II et al. (2020). See also (2020), p. 7; Mogaji (2020), pp. 57–63; Nuguer and Powell (2020), p. 83.

  27. 27.

    Jhunjhunwala (2020), pp. 157–161.

  28. 28.

    Arner et al. (2020), p. 23. See also Sahay et al. (2020).

  29. 29.

    Ayadi and Shaban (2020), p. 16.

  30. 30.

    Machasio (2020), p. 7.

  31. 31.

    Arunachalam and Crentsil (2020), p. 33.

  32. 32.

    Arner et al. (2020), p. 23.

  33. 33.

    Machasio (2020).

  34. 34.

    Sahay et al. (2020).

  35. 35.

    Ayadi and Shaban (2020), p. 16.

  36. 36.

    Machasio (2020), p. 7.

  37. 37.

    Sahay et al. (2020).

  38. 38.

    Sahay et al. (2020).

  39. 39.

    Ozili (2020).

  40. 40.

    Sahay et al. (2020).

  41. 41.

    Arner et al. (2020).

  42. 42.

    Gutiérrez-Romero and Ahamed (2020), p. 37.

  43. 43.

    Ayadi and Shaban (2020), p. 16.

  44. 44.

    Kasradze (2020), p. 74.

  45. 45.

    Ozili (2020).

  46. 46.

    Gutiérrez-Romero and Ahamed (2020), p. 37.

  47. 47.

    Arner et al. (2020), p. 23.

  48. 48.

    Arner et al. (2020), p. See also Nuguer and Powell (2020), p. 83.

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Authors and Affiliations

  1. Namibia Business School, University of Namibia, Windhoek, Namibia

    Charles Makanyeza

  2. School of Accounting, Faculty of Commerce, Management and Law, University of Namibia, Windhoek, Namibia

    Eukeria Wealth

  3. Department of Graduate Studies, Botho University, Gaborone, Botswana

    Tendai D. Svotwa

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  1. Charles Makanyeza
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  2. Eukeria Wealth
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  3. Tendai D. Svotwa
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Correspondence to Charles Makanyeza .

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Editors and Affiliations

  1. Faculty of Law, North-West University, Mmabatho, South Africa

    Howard Chitimira

  2. School of Law, University of Namibia, Windhoek, Namibia

    Tapiwa Victor Warikandwa

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Makanyeza, C., Wealth, E., Svotwa, T.D. (2023). Financial Inclusion Challenges and Prospects During the COVID-19 Pandemic: Insights from Botswana, Namibia, South Africa and Zimbabwe. In: Chitimira, H., Warikandwa, T.V. (eds) Financial Inclusion and Digital Transformation Regulatory Practices in Selected SADC Countries. Ius Gentium: Comparative Perspectives on Law and Justice, vol 106. Springer, Cham. https://doi.org/10.1007/978-3-031-23863-5_13

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  • DOI: https://doi.org/10.1007/978-3-031-23863-5_13

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