Financial inclusion expands in Ghana and India via digital innovation

Emerging economies in Ghana and India are seeing significant shifts in financial inclusion through digital innovation and government-led initiatives.

In Ghana, the growth of mobile money, digital payments, and fintech solutions has transformed how millions save and conduct business. While mobile money and USSD-based services have helped bypass traditional infrastructure constraints, challenges remain for rural communities and informal workers, including geographic barriers, digital literacy, and affordability.

In India, the Financial Inclusion Index has risen from 53.9 in 2018 to 67 in 2026. This progress is attributed to programs like the Pradhan Mantri Jan Dhan Yojana (PMJDY), which has expanded access to bank accounts and savings facilities. The expansion has particularly benefited women by providing direct access to government transfers and digital payments. Additionally, the increased use of RuPay debit cards has facilitated more widespread participation in the formal economy.