Borrowed Future in Public Service: A Systematic Review of Financial Literacy and Loan Behaviour Among African Civil Servants
Résumé
The issue of financial literacy has now become a key factor in determining financial independence, economic resilience, sustainable development and it has been receiving increasing attention, especially in the developing regions among civil servants. This systematic review is an evidence synthesis on the nature of the relationship between financial literacy and financial inclusion in Africa and other similar developing situations. The structured literature search was performed in major academic databases, such as Scopus, Web of Science, and Google Scholar, including peer-reviewed studies published between 2015 and 2025. Search terms comprised a combination of financial literacy, financial inclusion, digital literacy and developing economies. The studies were to be included, provided that they studied or analysed financial literacy and how it has an effect on financial behaviours, access to financial services or economic outcomes. The study included 26 studies and all the eligible studies were assessed and chosen according to the inclusion criteria: relevance, methodological rigor, and geographical focus. A narrative thematic analysis approach was used to extract and synthesize data. The findings consistently demonstrate that financial literacy plays a crucial role in improving access to formal financial services, promoting their utilization, and increasing the benefits individuals derive from formal financial systems. Some of the major determinants have been identified as levels of education, level of digital literacy, income and institutional factors. Moreover, the evidence released to date indicates the increasing importance of digital technologies and fintech in closing the access gap to finances, especially among underserved populations. Nonetheless, inequality, infrastructural bottlenecks and contextual socio-cultural barriers have remained a thorn in the flesh. The review finds that enhancing financial literacy with context-specific interventions are crucial in improving financial inclusion and the broader development objectives. Financial policy makers and stakeholders are encouraged to incorporate financial education with the digital inclusion strategies to enhance maximum impact in the developing economies.
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