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Digital Finance and Institutional Trust in the DRC: Building the Foundations of Inclusive Growth

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  • Ngunza Maniata, Kevin

Abstract

Financial inclusion has become a cornerstone of development policy, yet progress across low-income and fragile states remains uneven. This paper examines the evolution of financial inclusion in the Democratic Republic of the Congo (DRC) using recent data from the World Bank’s Global Findex 2025 and the GSMA’s 2025 Mobile Money Report. Despite global account ownership reaching 79 percent of adults, fewer than 40 percent of Congolese adults hold a formal financial account. The study situates the DRC within an institutional economics framework and highlights structural constraints including informality, weak trust in financial institutions, limited infrastructure, and low financial literacy. The analysis finds that while mobile money is expanding access, its impact depends on improvements in digital infrastructure, governance, and consumer protection. The paper concludes that inclusive finance in the DRC requires not only technological diffusion but also the rebuilding of institutional credibility and human capital.

Suggested Citation

  • Ngunza Maniata, Kevin, 2025. "Digital Finance and Institutional Trust in the DRC: Building the Foundations of Inclusive Growth," MPRA Paper 126774, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:126774
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    References listed on IDEAS

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    1. Peterson K. Ozili, 2021. "Financial inclusion research around the world: A review," Forum for Social Economics, Taylor & Francis Journals, vol. 50(4), pages 457-479, October.
    2. Shawn Cole & Thomas Sampson & Bilal Zia, 2011. "Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?," Journal of Finance, American Finance Association, vol. 66(6), pages 1933-1967, December.
    3. Kodila-Tedika, Oasis & Ngunza Maniata, Kevin, 2018. "Financial Constraints and Poverty," MPRA Paper 84839, University Library of Munich, Germany.
    4. Demirguc-Kunt, Asli & Klapper, Leora, 2012. "Measuring financial inclusion : the Global Findex Database," Policy Research Working Paper Series 6025, The World Bank.
    5. Zuzana Fungáčová & Laurent Weill, 2016. "Determinants of Financial Inclusion in Asia," Palgrave Studies in Impact Finance, in: Sasidaran Gopalan & Tomoo Kikuchi (ed.), Financial Inclusion in Asia, chapter 2, pages 35-57, Palgrave Macmillan.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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