Work

Mobile fintech adoption in Sub-Saharan Africa: A systematic literature review and meta-analysis

Year: 2024

Type: review

Study designs: Systematic Review, Meta-Analysis

Abstract: Financial technology (fintech) has become an important means of promoting financial inclusion in developing countries. Understanding why people use fintech services is crucial for improving financial inclusion and policy development . This study examines the drivers of mobile fintech service adoption in Sub-Saharan Africa, a region with the lowest financial inclusion rates in the world. We analyze the determinants of the use of mobile money, mobile banking, electronic wallets, and internet banking by summarizing the extensive empirical research through a systematic literature review . Based on a meta-analysis, we conclude that perceived ease of use and perceived usefulness are most important. We also find a lack of research on how the supply side drives fintech adoption. Finally, we find large-scale field experiments to be underrepresented in the literature. Policymakers should focus on enhancing digital and financial literacy and setting standards for technology compatibility to create a supportive regulatory environment for wider mobile fintech adoption in Sub-Saharan Africa.

Source: Research in International Business and Finance

DOI: 10.1016/j.ribaf.2024.102529

Authors: Lars Hornuf, Kulondwa Safari, Johannes Voshaar

Institutions: Technische Universität Dresden, University of Bremen

Language: English

Topic: Technology Adoption and User Behaviour

Subfield: Information Systems and Management

Field: Decision Sciences

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $3,370