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Unlocking the Green Economy in African Countries: An Integrated Framework of FinTech as an Enabler of the Transition to Sustainability

Author

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  • Phemelo Tamasiga

    (Public Policy in Africa Initiative, Yaounde, Cameroon)

  • Helen Onyeaka

    (School of Chemical Engineering, University of Birmingham, Edgbaston, Birmingham B15 2TT, UK)

  • El houssin Ouassou

    (Laboratory of Applied Economics (LAE), Mohammed V University in Rabat, Rabat 10000, Morocco)

Abstract

The emergence of new transformational technology, known as the fourth industrial revolution, has crucially opened a new window to green economic growth. The transition to low carbon, green economy, and green sustainability has gained momentum simultaneously in developed and developing countries. The greening policy echoes the pending climate change and its entrenching disruptions. Financial technology, or FinTech seems to be a promising direction in unlocking the green dilemma; to be concrete, FinTech and the green economy are separately documented in the literature. Against this background, the current study investigates the intersection between green economic growth and FinTech by conducting a systematic-cum-bibliometric analysis of published papers in the Scopus database with the goal of first examining the role and opportunities of implementing green FinTech as a stimulus for transition towards green economic growth in African countries and, second, identifying knowledge gaps and future policy and research directions by developing an integrated framework to help African countries in the transition to green economic growth and green FinTech. The results illustrate an increasing trend in research attention towards the green FinTech concept and its relationship with green economic growth, climate change, and greening rules and standards. A deep inspection of the mined papers indicates that future research trajectories are oriented into five different mainstreams: technology and instruments in digital finance; regulation, policies, and green FinTech; climate risk mitigation through FinTech; FinTech and environmental quality; green finance and climate change mitigation. Based on these research directions, an integrated framework was conceptualised that aims to deliver green economic growth using FinTech as a vehicle of transition for African countries.

Suggested Citation

  • Phemelo Tamasiga & Helen Onyeaka & El houssin Ouassou, 2022. "Unlocking the Green Economy in African Countries: An Integrated Framework of FinTech as an Enabler of the Transition to Sustainability," Energies, MDPI, vol. 15(22), pages 1-28, November.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:22:p:8658-:d:976837
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    References listed on IDEAS

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    Cited by:

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    2. Pei Zhao & Junhua Guo & Yang Wang, 2023. "How Does the Digital Economy Affect Green Development?—Evidence from 284 Cities in China," Sustainability, MDPI, vol. 15(15), pages 1-24, July.
    3. Arvind Ashta, 2023. "How Can Fintech Companies Get Involved in the Environment?," Sustainability, MDPI, vol. 15(13), pages 1-18, July.
    4. Yunlong Cheng & Jian Yang, 2023. "Spatial and Temporal Divergence in the Coupling Coordination of Digital Economy, Environmental Regulation and Sustainable Development: An Experience Study in China," Sustainability, MDPI, vol. 15(12), pages 1-16, June.
    5. Han Yan & Md. Qamruzzaman & Sylvia Kor, 2023. "Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion," Sustainability, MDPI, vol. 15(18), pages 1-25, September.

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