Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
GOP lawmakers advocate for US condemnation of persecution...
‘Not going away’: Inside the Epstein drama that’s...
Obama denies Trump’s ‘bizarre allegations’ that he was...
Huckabee hits back at Western countries that ‘side’...
Jeffrey Epstein case reopens focus on Ghislaine Maxwell...
George Clooney silent after Hunter Biden blasts actor...
China controls over 80% of battery materials crucial...
Senate votes to consider former Trump lawyer for...
Brennan directed publication of ‘implausible’ reports claiming Putin...
AI arms race: US and China weaponize drones,...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Digital Finance Fuels Record Savings Growth in Developing Nations: World Bank

by admin July 18, 2025
July 18, 2025
Digital Finance Fuels Record Savings Growth in Developing Nations: World Bank

Formal saving in developing economies surged to its highest level in more than a decade in 2024, powered largely by the widespread use of mobile phones and digital financial tools, the World Bank said in its new Global Findex 2025 report.

For the first time, 40 percent of adults in low- and middle-income countries reported saving money through a bank or other financial institution—marking a 16-percentage-point increase since 2021 and the sharpest three-year rise since the Findex survey began.

Mobile-money services played an outsized role: 10 percent of adults in these economies used mobile accounts to save, up from 5 percent just three years prior.

‘This is real progress,’ said Bill Gates, chair of the Bill & Melinda Gates Foundation, which supports the survey. ‘More people than ever have the financial tools to invest in their futures and build economic resilience, including women and others previously left behind.’

The data points to a broader trend: digital access is quickly becoming the defining factor in who gets to participate in formal financial systems. While nearly 80 percent of the world’s adults now have a financial account, 1.3 billion people still do not—and most of them live in countries where mobile-phone penetration is already high.

According to the report, around 900 million adults without financial accounts do own mobile phones, and more than half of those have smartphones.

“Financial inclusion has the potential to improve lives and transform entire economies,” said World Bank Group President Ajay Banga. “Digital finance can convert this potential into reality, but several ingredients need to be in place.”

Banga cited the Bank’s work supporting digital identification systems, social protection programs with direct cash transfers, and efforts to modernize national payment infrastructure. “We’re helping to remove regulatory roadblocks—so that people and businesses have the financing they need to innovate and create jobs,” he said.

The Findex also recorded an increase in digital merchant payments. In 2024, 42 percent of adults in developing economies made at least one in-store or online purchase using a card or mobile phone—up from 35 percent in 2021.

Among adults receiving wages or government payments, a growing majority are being paid directly into accounts, a shift that has been shown to reduce leakage and fraud.

At the same time, the rise in digital finance has exposed new gaps in consumer protection and digital literacy. Although 4 billion adults in low- and middle-income countries own mobile phones, only about half use passwords or other basic security tools. This leaves hundreds of millions vulnerable to scams, account theft, or misuse of their data.

For the first time, the report incorporated data on personal device ownership and internet use through a new Digital Connectivity Tracker. It found that 86 percent of adults globally now own a mobile phone, including 68 percent with smartphones.

These figures are even higher in some regions: mobile-phone ownership tops 94 percent in Europe and Central Asia, and smartphone use is highest in East Asia and the Pacific, where 86 percent of adults own one.

Sub-Saharan Africa showed the largest gains in mobile-money use, with 35 percent of adults now saving formally—up 12 percentage points since 2021. Meanwhile, women in low- and middle-income countries have made notable strides in account ownership, closing much of the gender gap: 73 percent now have accounts, compared with just 37 percent in 2011.

Still, challenges persist. In the Middle East and North Africa, only 53 percent of adults have an account, and formal saving remains low at 17 percent. In Latin America and the Caribbean, 70 percent have accounts, but usage patterns vary widely by country and income level.

Gates underscored the stakes: “The case for investing in inclusive financial systems, digital public infrastructure, and connectivity is clear—it’s a proven path to unlocking opportunity for everyone.”

The Global Findex, compiled every three years since 2011, remains the world’s most comprehensive database on how adults access, use, and trust financial services. The 2025 edition surveyed over 130,000 people in more than 120 countries.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Trump says it’s ‘highly unlikely’ he will fire Fed Chair after broaching idea with GOP reps
next post
Charbone Hydrogen Announces Updates on Units for Debts

You may also like

RUA GOLD Intersects Visible Gold and Antimony and...

January 20, 2025

Noble and Canada Nickel Close Transactions Under Implementation...

February 24, 2025

International Lithium Corp.

July 4, 2025

Skyharbour and JV Partner Orano to Commence Extensive...

May 15, 2025

Hempalta Corp. Confirms Business Strategy Execution and Responds...

October 8, 2024

Top 5 Canadian Mining Stocks This Week: Adyton...

October 6, 2024

Quetzal Copper Announces Closing of Third Tranche of...

February 18, 2025

China Eases Rare Earths Grip, Grants US, EU...

June 10, 2025

Heritage Exercises First Option to Acquire a Majority...

January 20, 2025

High-Grade Gold & Copper Assays at Thorpe Prospect

November 28, 2024

Recent Posts

  • GOP lawmakers advocate for US condemnation of persecution against Christians in Muslim-majority nations
  • ‘Not going away’: Inside the Epstein drama that’s thrown House GOP into chaos
  • Obama denies Trump’s ‘bizarre allegations’ that he was Russiagate ‘ringleader’ in rare statement
  • Huckabee hits back at Western countries that ‘side’ with terror group Hamas
  • Jeffrey Epstein case reopens focus on Ghislaine Maxwell as deputy AG steps in

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (832)
    • Investing (2,597)
    • Politics (3,206)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.