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Determinants of FinTech development: Evidence from Sub-Saharan African Countries

Author

Listed:
  • Amadou Bobbo

    (University of Yaoundé II)

  • Gislain Stéphane Gandjon Fankem

    (University of Yaoundé II)

  • Aurelien Kamdem Yeyouomo

    (University of Yaoundé II)

Abstract

In this study, we empirically assess the determinants of FinTech development for a sample of 28 Sub-Saharan African (SSA) countries over the period from 2007–2018. The results show that: financial development, literacy, regulation, and economic growth positively affect FinTech development; institutional quality and inflation negatively affect it; literacy is the most important determinant contributing to FinTech development; and institutional quality the greatest impediment to FinTech development. These results indicate that literacy and the level of financial education require more attention in SSA. Likewise, the ongoing financial reforms and the implementation of a regulatory framework contribute to FinTech development in SSA.

Suggested Citation

  • Amadou Bobbo & Gislain Stéphane Gandjon Fankem & Aurelien Kamdem Yeyouomo, 2025. "Determinants of FinTech development: Evidence from Sub-Saharan African Countries," Journal of Financial Services Research, Springer;Western Finance Association, vol. 68(2), pages 201-239, October.
    • Handle: RePEc:kap:jfsres:v:68:y:2025:i:2:d:10.1007_s10693-024-00427-9
    DOI: 10.1007/s10693-024-00427-9
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    Keywords

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    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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