IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA
The objective of this paper is to determine the impact of FinTech on the financial inclusion of populations in sub-Saharan Africa where financial education is still low. To do so, data were collected on a sample of 35 countries over a period from 2011 to 2020. Estimates were made using two-stage le...
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Format: | Article |
Language: | English |
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Nicolaus Copernicus University in Toruń
2023-07-01
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Series: | Copernican Journal of Finance & Accounting |
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Online Access: | https://apcz.umk.pl/CJFA/article/view/45177 |
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author | Wulli Faustin Djoufouet Thierry Messie Pondie |
author_facet | Wulli Faustin Djoufouet Thierry Messie Pondie |
author_sort | Wulli Faustin Djoufouet |
collection | DOAJ |
description |
The objective of this paper is to determine the impact of FinTech on the financial inclusion of populations in sub-Saharan Africa where financial education is still low. To do so, data were collected on a sample of 35 countries over a period from 2011 to 2020. Estimates were made using two-stage least squares models and the Lewbel 2LS model. It is clear from the results that fintech contributes significantly to the financial inclusion of people in sub-Saharan Africa. Mobile phone ownership facilitates the use of financial services. It is noted that a 1% increase in the number of people using a phone would contribute to a 0.67% increase in the financial inclusion rate. The Driscoll-Kraay technique consolidated these results by showing that with 1% of people having access to fintech tools, there is an improvement in the financial inclusion rate of about 0.70%.
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first_indexed | 2024-03-12T02:59:19Z |
format | Article |
id | doaj.art-a20abaa8685d48dbbd5342bd0147f603 |
institution | Directory Open Access Journal |
issn | 2300-1240 2300-3065 |
language | English |
last_indexed | 2024-03-12T02:59:19Z |
publishDate | 2023-07-01 |
publisher | Nicolaus Copernicus University in Toruń |
record_format | Article |
series | Copernican Journal of Finance & Accounting |
spelling | doaj.art-a20abaa8685d48dbbd5342bd0147f6032023-09-03T14:57:35ZengNicolaus Copernicus University in ToruńCopernican Journal of Finance & Accounting2300-12402300-30652023-07-0111410.12775/CJFA.2022.019IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICAWulli Faustin Djoufouet0Thierry Messie Pondie1University of BamendaUniversity of Dschang The objective of this paper is to determine the impact of FinTech on the financial inclusion of populations in sub-Saharan Africa where financial education is still low. To do so, data were collected on a sample of 35 countries over a period from 2011 to 2020. Estimates were made using two-stage least squares models and the Lewbel 2LS model. It is clear from the results that fintech contributes significantly to the financial inclusion of people in sub-Saharan Africa. Mobile phone ownership facilitates the use of financial services. It is noted that a 1% increase in the number of people using a phone would contribute to a 0.67% increase in the financial inclusion rate. The Driscoll-Kraay technique consolidated these results by showing that with 1% of people having access to fintech tools, there is an improvement in the financial inclusion rate of about 0.70%. https://apcz.umk.pl/CJFA/article/view/45177FinTechfinancial inclusionLewbel 2SLS |
spellingShingle | Wulli Faustin Djoufouet Thierry Messie Pondie IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA Copernican Journal of Finance & Accounting FinTech financial inclusion Lewbel 2SLS |
title | IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA |
title_full | IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA |
title_fullStr | IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA |
title_full_unstemmed | IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA |
title_short | IMPACTS OF FINTECH ON FINANCIAL INCLUSION: THE CASE OF SUB-SAHARAN AFRICA |
title_sort | impacts of fintech on financial inclusion the case of sub saharan africa |
topic | FinTech financial inclusion Lewbel 2SLS |
url | https://apcz.umk.pl/CJFA/article/view/45177 |
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