Leveraging Agent Networks to Drive Women’s Financial Inclusion 

	Country:	Nigeria
	Member institution:	Central Bank of Nigeria
	Timeline:	January 2021 – April 2022
	Thematic area:	Gender Inclusive Finance

Context 

Financial institutions rely heavily on agents in reaching rural areas of the country and onboarding unbanked clients. Equally, leveraging agent networks is a critical driver to close the gender gap in access to financial services. A  2019 survey found that employing female agents enhances communication and comfort levels for female customers and engenders trust in the products or services offered. However, only 22% of sampled agents were female.  

Boosting the number of female agents represented an opportunity to financially include more women. To do this, CBN needed a well articulated strategy to grow female agent networks that would build on existing agent banking guidelines, which would in turn drive women’s financial education and build their trust in financial services.  

 Project Activities 

• Formulation of a National Strategy on Leveraging Agent Networks for Women’s Financial Inclusion. The strategy outlined specific activities and gender-focused initiatives, accompanied by action plans for financial institutions and super agents. 

• Development of the strategy was spearheaded by the Financial Inclusion Delivery Unit within the Development Finance Department of the Central Bank of Nigeria. 

Outcome 

By addressing the barriers identified in the assessment and devising a comprehensive strategy, significant progress was made in advancing women’s financial inclusion in Nigeria. The National Strategy provided a roadmap for financial institutions and super agents to actively promote gender balance within agent networks, fostering an environment where women can access and benefit from financial services. The ongoing monitoring and evaluation by the Financial Inclusion Delivery Unit further ensures the effective implementation of the strategy, driving tangible progress in bridging the gender gap in financial inclusion and empowering women economically.