In February 2024, The Vivian Group Ltd conducted community-based focus groups in New Providence on the subject of financial inclusion. In particular, the exercise aimed to discuss the underlying factors that drive what this concept looks like. Financial inclusion is defined by the parameters of one’s access to financial services. The nature and scope of such access are generally influenced by demographic underpinnings.
With that in mind, subject matters surrounding focus groups included discussions of financial literacy, internet access and digital literacy, and financial resilience including climate-related events. Fifty adults participated in the focus groups, including a group that was dedicated to seniors. A questionnaire was designed for the exercise, including adaptations from a financial literacy model developed by the OECD.
The exercise was an independent Vivian Group Ltd. project. A project brief providing more discussion and findings is available here: Project Brief: Financial Inclusion – What does this look like for Bahamians?
The primary takeaways were that a wider financial inclusion survey exercise would be a helpful underpinning for policy decisions. Given the broad findings associated with financial resilience, a closer look at household financial vulnerability would also be a particularly meaningful exercise.
