DIGITAL FINANCIAL INCLUSION AND WOMEN’S ECONOMIC EMPOWERMENT: A CASE STUDY OF BANDARAGAMA DS DIVISION

Abstract

Digital financial inclusion promotes sustainable economic growth and it is a key facilitator for many sustainable development goals. It contributes to poverty reduction and enhances financial intermediation offering financial services through digital channels to people in society particularly encouraging the economic participation of women and empowering their economic well-being. Thus, this study examines how women can be empowered economically through digital financial inclusion among women entrepreneurs. Accordingly, the study collected primary data from registered women entrepreneurs and women-owned businesses of the Bandaragama Divisional Secretariat via the face-to-face interview method using a printed structured questionnaire and resulted in 146 responses. The study analysed data mainly through the Partial Least Squares Structural Equation Modelling using Smart PLS and two of the three hypotheses were supported by the study. The results of the study disclosed that usage and quality of digital financial services positively and significantly impact economic empowerment among women entrepreneurs. However, mere access to digital financial services did not show a significant effect on the economic empowerment of women. Thus, the study has contributed to the body of empirical knowledge by providing recommendations that encourage the use and access of quality digital financial products and services to empower women’s economic well-being.