Abstract

Adopting approaches of Transformative Service Research (TSR), the study explored rural and urban perspectives of Financial Inclusion, an enabler of the attainment of the 2030 Sustainable Development Goals, in an emerging economy. A cross-sectional survey was conducted in one of the largest cities in Africa with specific emphasis on an urban and a rural population. The urban sample was obtained from a major urban setting in the city while the rural sample was obtained from the outskirts of the city. Non-probability sampling methods were used to derive the study sample, which included a combination of purposive and convenient sampling. The study sample was made up of 453 participants with 46.8% of them being rural residents and 53.2% being urban residents. A structured questionnaire was utilized in eliciting relevant information from the study participants. Outcomes as depicted by an empirical framework showed that residential status had a significant main effect on access to financial inclusion services, such that rural residents had limited access to financial inclusion services; while perceived cost of financial inclusion had a significant main effect on usage of financial inclusion services, such that perceptions of high cost of perceived inclusion resulted in less usage of financial inclusion services. Based on the study outcomes, financial institutions may consider rural-urban differentials in ascribing service charges for financial inclusion services to encourage usage.

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