Department of Accounting and Finance

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Browsing Department of Accounting and Finance by Author "ADEMOKOYA ALADE AYODEJI"

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    IMPACT OF FINANCIAL INCLUSION ON SUSTAINABLE DEVELOPMENT IN SUB-SAHARAN AFRICA
    (GHANSHYAM BINANI ACADEMY OF MANAGEMENT SCIENCES, MIRZAPUR, INDIA, 2021-10) ADEMOKOYA ALADE AYODEJI
    All the three aspects of sustainable development, vis-à-vis, sustainable economic, social and environmental development, are crucial, inter-linked and mandatory if the SDGs are to be achieved and they balanced out each other and none is more important than the other. In spite of the bright outlook of financial inclusion derived from financial technology adoption, several challenges still linger Sub-Sahara Africa countries regarding financial inclusion. This reason and the fact that the impact of financial inclusion on sustainable development has not gained focus in the literature led to the emergence of the study to examine the impact of financial inclusiveness on sustainable development in Sub-Saharan Africa and specially, to: examine the level of financial inclusion, economic, social and environmental development in Sub-Sahara Africa; assess the impact of financial inclusiveness on sustainable economic development in Sub-Sahara Africa; determine the impact of financial inclusiveness on sustainable social development in Sub-Sahara Africa; and investigate the impact of financial inclusiveness on sustainable environment development in Sub-Sahara Africa. The Study employed panel dynamic fixed effects estimator on the panel data of 38 Sub-Sahara Africa countries over the period between 2012 and 2020. The findings of the study financial inclusion have negative impact on 〖CO〗_2 emission, implying that financial inclusion improves environmental sustainability but does not have impact on economic and social sustainability. The study concluded that financial inclusion is vital for sustainable development in Sub-Sahara Africa, primarily, through its contribution to environmental sustainability by reducing environmental degradation through the reduction of 〖CO〗_2 emission. The study recommended that inclusive financial system and activities should be pursued by policy makers of Sub-Sahara Africa in order to achieve their sustainable development goals through improved environmental sustainability.