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Financial Inclusion and Gender Gap in Honduras

Honduras has made significant progress in mobile phone access, with a high penetration rate of 98%. However, despite this achievement, there are still challenges to be addressed in terms of financial inclusion and gender gap.

Mobile Phone Access

Key Statistics

  • Total mobile phone lines: 6.96 million
  • Mobile phone penetration rate: 98%
  • Smartphone ownership: one-third of the population owns a smartphone due to high costs

However, the cost of mobile data is among the highest in the world, with 100 MB costing almost 10% of the average monthly income.

Internet Access

As of 2021, there are significant gaps in internet access between men and women:

  • Women: 56% have access to the internet
  • Men: 52% have access to the internet

Digital ID Infrastructure

Honduras’ national ID system is managed by the National Civil Registry (Registro Nacional de las Personas or RNP), with an embedded barcode and biometric details.

Financial Inclusion Plan

The National Banking and Insurance Commission (CNBS) has developed a National Women’s Financial Inclusion Plan, aiming to improve and strengthen supervisory and regulatory capacities for financial inclusion of Honduran women.

Key Recommendations

Reducing Mobile and Broadband Internet Costs

  • To make DFS more accessible and affordable for the average Honduran
  • This can be achieved by reducing mobile and broadband internet costs

Using Simple Technology

  • Deploy USSD, SMS, or interactive voice response to reach a wider audience
  • This will enable FSPs to provide services to those who do not have smartphones

Regulatory Requirements

  • Issue regulations requiring FSPs to use biometric identification to improve security and verification processes
  • This will ensure that financial transactions are secure and reliable

Digital ID Infrastructure

  • Explore future digital IDs that would enable digital account opening and verification
  • This will make it easier for individuals to access financial services online

Strengthening Regulatory Capacities

  • Improve the supervisory and regulatory capacities of CNBS to effectively improve financial inclusion for Honduran women
  • This will enable the government to monitor and regulate FSPs more effectively