Business

10 countries with highest number of individuals without a bank account

Published

Tuesday, 20 May 2025, 8:32 pm

BPrktkpTURBXy9mNDRkYzBmMTJmNDhlY2M1OTViNzIyN2I4OWE1ZTk2ZS5wbmeSlQMbAM0Cys0BkpMFzQSwzQJ2

10 countries with the highest number of individuals without a bank account, The World Bank puts the number of unbanked persons at over 1.6 billion adults; these individuals have no protection cover for their money from theft or losses and have never been introduced to any financial products like insurance, loans or mortgages.

The booming population of unbanked individuals further exacerbates the poverty headcount ratio in some regions thus leading to stunted economic growth.

According to the World Bank report, “Poor people also account for a disproportionate share of the unbanked. Globally, half of unbanked adults come from the poorest 40% of households within their economy, the other half from the richest 60%”.

This table sourced from Global Finance ranks the top 10 countries with the largest number of residents who do not have access to bank services or any similar financial product.

Join Our WhatsApp Group

Don’t miss out on any real-time information. Join our WhatsApp group to stay updated.

CLICK HERE TO JOIN

Rank	Country	Population (Millions)	% Unbanked
1	Morocco	36.9	71
2	Vietnam	97.3	69
3	Egypt	102.3	67
4	Philippines	109.6	66
5	Mexico	128.9	63
6	Nigeria	206.1	60
7	Peru	33	57
8	Colombia	50.9	54
9	Indonesia	273.5	51
10	Argentina	45.2	51

On a global level, the regions that have the largest base of financial excluded individuals are in developing or emerging economies, and include the Middle East and Africa (50%) South and Central America follow at 38%, Eastern Europe and the former Soviet republics at 33%, Asia Pacific’s share stands at 24%.

According to consulting firm EY Global, there is a possibility of boosting GDP by up to 14% by adopting broader access banking, savings and lending products in large emerging countries such as India and up to 30% in frontier economies such as Kenya and other African countries.

The growth of financial inclusion In Sub-Saharan Africa, has been linked to the high adoption of fintech solutions like payment gateways, lending platforms, and investment apps which will further bridged the gaps by penetrating the unbanked regions.

The adoption of fintech solutions in unbanked areas will also encourage entrepreneurship and businesses in the rural areas which in turn, will also enable some unbanked individuals to access digital banking services without having to physically visit a banking structure.

A 2023 Access to Finance (A2F) survey conducted by Enhancing Financial Innovation & Access (EFInA) reports a rise in data of financially included Nigerians from 56% in 2020 to 64% in 2023, thus indicating a significant progress as the country targets to reduce levels of financial exclusion to 25% by 2024.

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels

Business

Fidelity Bank, SMEDAN unveil single-digit interest financing for MSMEs

Published

2 hours ago

May 20, 2025

John

Fidelity Bank Plc and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a strategic partnership aimed

read more Fidelity Bank, SMEDAN unveil single-digit interest financing for MSMEs

Turo247News is on WhatsApp!

CLICK HERE TO JOIN

Share News with us via Email: turo247newz.com@gmail.com

Join Our Social Media Channels

Business

Will Spurs Finally End Their Trophy Drought? Best Europa Final Odds

Published

5 hours ago

May 20, 2025

John

Tottenham Hotspur and Manchester United will meet in the 2025 UEFA Europa League final on May 21 at the San Mamés Stadium in Bilbao, Spain. Both teams have a lot on the line.

This all-English showdown offers both clubs a chance to redeem their underwhelming domestic seasons and secure a coveted spot in next season’s UEFA Champions League.

Tottenham’s victory would end a 17-year trophy drought, marking their first major silverware since 2008.

Both Teams to Score = 1.68

Over 2.5 Goals = 1.92

Europa League Journey Recap

Tottenham’s path to the final has been straightforward.

They bypassed the playoff stage by finishing fourth in the league phase before overcoming challenges from AZ Alkmaar, Eintracht Frankfurt, and Bodo/Glimt in the knockout rounds. Despite struggling in the Premier League, where they sit 17th, Spurs have found form in Europe, with key performances from players like Pedro Porro and Dominic Solanke.

Manchester United, currently 16th in the Premier League, has also turned to the Europa League for solace. After a solid league phase, the Red Devils advanced to the final by defeating Real Sociedad in the round of 16, Lyon in the quarter-finals, and Athletic Bilbao in the semi-finals.

Bruno Fernandes has been instrumental in their European campaign, contributing significantly to their goal tally.

What to Expect in the Europa League Final

Join Our WhatsApp Group

Don’t miss out on any real-time information. Join our WhatsApp group to stay updated.

CLICK HERE TO JOIN

The final promises a tightly contested match between two sides eager to salvage their seasons. Tottenham’s attacking flair will test United’s defence, while United’s experience in European finals could prove decisive.

Both teams have shown vulnerabilities domestically, but their European form suggests a competitive encounter in Bilbao.

Who Are the Favourites?

According to LiveScore Bet Nigeria, United entered the final as a slight favourite at 2.45 to win the game, while Tottenham was close behind at 2.85.

The Red Devils are also priced at 1.80 odds to lift the trophy, while Spurs have 2.00 odds to secure it.

Betting Tips and Odds

Over 2.5 Goals

Both teams have met three times this season, twice in the Premier League and once in the EFL Cup. Two matches produced three or more goals, while the other was a 1-0 victory for Spurs.

However, we expect Ange Postecoglou to retain his ultra-attacking style, which he has used to win all three of their previous meetings this campaign.

Over 2.5 goals is priced at 1.92 on LiveScore Bet Nigeria.

Both Teams to Score

Both sides possess attacking threats capable of finding the net. Considering their defensive frailties, betting on both teams to score might offer value, and it is priced at 1.68 odds on LiveScore Bet Nigeria.

Bet now on LiveScore Bet Nigeria, and as always, gamble responsibly.

Follow on WhatsApp and Telegram for VIP odds.

#FeaturedPost