Inclusive Financial Services Adoption by Rural Senegalese Women in Togo: Access to Credit and Savings Accounts Usage Over One Year

Inclusive financial services have emerged as a critical tool for economic empowerment in rural communities across Africa. Rural Senegalese women face significant barriers to accessing formal financial institutions, which can hinder their ability to engage in productive activities and improve household welfare. The research employed qualitative methods including semi-structured interviews with 50 participants from selected rural communities. Data analysis focused on thematic coding and comparison of interview responses across different demographic groups. Senegalese women reported difficulties in accessing credit, often due to lack of collateral or formal identification documents. However, savings account usage was more widespread, particularly among those with higher levels of education. Business growth metrics showed a significant increase in income-generating activities among participants who used both credit and savings services. This study highlights the importance of addressing financial inclusion barriers for rural Senegalese women, especially related to accessing formal credit mechanisms. The integration of savings accounts into their financial practices can serve as a foundational step towards broader economic empowerment. Policy makers should consider implementing targeted interventions such as simplified loan application processes and community-based microfinance initiatives to enhance access to inclusive financial services for rural Senegalese women.