The Malian financial landscape has shown mixed results in terms of financial inclusion. In 2025, the country's overall financial inclusion rate reached 61.9%, up from 58.6% in 2024, representing a 3.3 percentage point increase. This rate measures the proportion of the adult population covered by financial services. However, the country's synthetic index of financial inclusion declined from 0.491 to 0.466 during the same period.
The decline in Mali's synthetic index contrasts with the regional trend in the West African Economic and Monetary Union (UEMOA). The UEMOA's synthetic index increased from 0.600 in 2024 to 0.616 in 2025. Mali's overall financial inclusion rate of 61.9% remains below the regional average of 76.1% but is higher than Niger's rate of 26.2%. This progress is insufficient to significantly bridge the gap with the best-performing countries in the union.
Banking indicators confirm Mali's relative lag. The strict banking rate, which measures the proportion of the adult population with a bank account, reached 16.8% in 2025, up from 15.6% in 2024. This rate remains below the regional average of 26.9%. Only Niger, with 11.3%, and Guinea-Bissau, with 14.5%, have lower rates. The broad banking rate, which includes accounts held with various financial institutions, also increased from 28.3% in 2024 to 30.5% in 2025.
Despite these increases, Mali's banking rates remain significantly lower than the community averages. This highlights that financial inclusion goes beyond having a bank account and also relies on access to other services, such as electronic money. The country's progress in financial inclusion is not uniform, and several dimensions need to be examined to understand the challenges that persist.
In 2025, the synthetic index of financial inclusion improved in the other seven UEMOA countries. The index increased from 0.663 to 0.667 in Benin, from 0.636 to 0.646 in Côte d'Ivoire, from 0.643 to 0.651 in Senegal, from 0.641 to 0.644 in Togo, and from 0.585 to 0.594 in Burkina Faso. Guinea-Bissau and Niger also recorded increases, with their indices reaching 0.496 and 0.431, respectively.
The decline in Mali's synthetic index does not imply that all dimensions of financial inclusion have deteriorated. The overall financial inclusion rate, as well as the strict and broad banking rates, are on the rise. The contrast between these indicators underscores the importance of examining multiple dimensions to better understand the progress made and the challenges that persist.
According to the BCEAO's 2025 Financial Inclusion Dashboard for the UEMOA, Mali's financial inclusion landscape presents a mixed picture. While the country's overall financial inclusion rate and banking rates have increased, its synthetic index has declined. This decline highlights the need for a comprehensive analysis of financial inclusion in Mali to identify areas for improvement and to develop targeted strategies to promote greater financial inclusion.
Key points
- Mali's overall financial inclusion rate reached 61.9% in 2025, but its synthetic index declined to 0.466.
- The country's strict banking rate increased to 16.8% in 2025, but remains below the regional average of 26.9%.
- Mali's financial inclusion progress is not uniform, and several dimensions need to be examined to understand the challenges that persist.
