<p>This study investigates the effect of financial inclusion (FI) on household well-being in sub-Saharan Africa (SSA), with particular attention to gender and rural–urban disparities. Using Afrobarometer round 9 data from 51,044 households, we estimate ordered probit models and conduct robustness checks with instrumental-variable approaches, while accounting for country-fixed effects to control for heterogeneity in economic size and institutional contexts. The findings are consistent across model specifications and indicate a positive and significant association between FI and household well-being in SSA. However, the findings reveal persistent inequalities: male-headed and urban households derive greater welfare benefits from FI compared to female-headed and rural households. These disparities indicate that, although FI is positively associated with overall household welfare, structural barriers—such as limited access to health services, education, electricity, clean water, freedom of expression, and unemployment—particularly constrain the welfare gains of female-headed households and rural populations. These results suggest that when implemented in conjunction with supportive socio-economic policies, FI can contribute to enhanced household well-being across the region. To achieve the welfare-enhancing effects of FI, we suggest prioritizing gender-responsive FI programs that expand women’s access to financial services, especially in rural areas, through mobile banking, savings groups, and flexible microcredit schemes. Complementary measures, including vocational training, entrepreneurship support, and education, are likely to reinforce the benefits associated with FI, thereby enhancing the sustainability of welfare gains.</p>