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Financial-sector development and inclusive and sustainable economic growth in sub-Saharan Africa

Working paper

Written by Judith Tyson

Working paper

This working paper examines the evidence relating to the relationship between finance and economic growth in sub-Saharan Africa. It reviews the financial landscape, progress and gaps in its development since 2000. Although the region as a whole has made significant progress – including expansion of the banking system’s scale and of financial access – there remain notable weaknesses, such as low domestic savings mobilisation, underdevelopment of capital markets and insufficient credit to key sectors for inclusive growth. It explores differences attainments in financial development and discusses how capital could be better aligned to the needs of economic transformation in the region.