publication . Article . 2020

Electronic banking business in Sub-Saharan Africa: Socio-economic impact and the activities of FinTech ecosystems

Olusoji Akinola;
Open Access English
  • Published: 22 Sep 2020
  • Publisher: Zenodo
This paper centers on assessing the socio-economic impact of electronic banking business in Sub-Saharan Africa, while critically observing the role that emerging FinTech ecosystems play in deepening economic inclusion and access in developing countries. Extensive related literatures were consulted which were integrated into this new body of knowledge, which has been one of the recommended areas for future research. Research hypothesis were derived to validate relevant findings. This study aim to provide transparency on whether the development of digital payments business and FinTech ecosystems are having a synergistic positive impact or otherwise, on the economic well-being of developing countries. It will also support potential foreign investors and multilateral development agencies on relevant socio-economic factors to note, while expanding into or supporting development in developing countries. The implication of this is for policyholders, multilateral development organizations, investors, donor agencies and governments to be conscious of the real impact and take perceptual measures where and when the need arises.
free text keywords: Digital payments, FinTech ecosystems, Developing countries, Economic inclusion, Microeconomic impact, Development economics, Body of knowledge, Inclusion (education), Socio economic impact, Developing country, Electronic banking, Sub saharan, Business, Payment, Transparency (graphic), Mobile payment, Financial inclusion, media_common.quotation_subject, media_common
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