Knowledge Note

New data from the Global Financial Inclusion (Global Findex) database show that 24 percent of adults in Sub-Saharan Africa have an account at a formal financial institution, and 16 percent use a mobile phone to pay bills or send or receive money. The data also show deep disparities across subregions and individual characteristics in how adults use financial services. The database can be used to track the effects of financial inclusion policies within the region and develop a deeper and more nuanced understanding of how Africans save, borrow, make payments, and manage risk.