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Fintech in sub-Saharan Africa

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  • Njuguna Ndung'u

Abstract

This paper traces the development of fintech in sub-Saharan Africa, its evolution over time, and the unfolding benefits attained at each stage of its adoption and market evolution. From the onset, fintechs have revolutionized retail electronic payment systems—a revolution that has evolved into a technological platform to manage micro-savers' accounts, virtual savings and credit systems, public financial management, and cross-border remittances, and has led to the adoption of new monetary policy frameworks.

Suggested Citation

  • Njuguna Ndung'u, 2022. "Fintech in sub-Saharan Africa," WIDER Working Paper Series wp-2022-101, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-101
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2022-101-fintech-sub-saharan-africa.pdf
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    References listed on IDEAS

    as
    1. Aron, Janine, "undated". "'Leapfrogging': a Survey of the Nature and Economic Implications of Mobile Money," INET Oxford Working Papers 2017-02, Institute for New Economic Thinking at the Oxford Martin School, University of Oxford, revised Jan 2017.
    2. David Yermack, 2018. "FinTech in Sub-Saharan Africa: What Has Worked Well, and What Hasn't," NBER Working Papers 25007, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Edgar Cambaza, 2023. "The Role of FinTech in Sustainable Healthcare Development in Sub-Saharan Africa: A Narrative Review," FinTech, MDPI, vol. 2(3), pages 1-17, July.
    2. Olga Mapanje & Selma Karuaihe & Charles Machethe & Mao Amis, 2023. "Financing Sustainable Agriculture in Sub-Saharan Africa: A Review of the Role of Financial Technologies," Sustainability, MDPI, vol. 15(5), pages 1-20, March.

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    More about this item

    Keywords

    Fintech; Financial inclusion; Saving; Technology; Sub-Saharan Africa;
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