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Mobile Money Services Adoption In Sub Saharan Africa
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Book Synopsis Mobile Money Services Adoption in Sub-Saharan Africa by : Kulondwa Safari
Download or read book Mobile Money Services Adoption in Sub-Saharan Africa written by Kulondwa Safari and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to measure the impact of rural residency on the adoption of mobile money services in Sub-Saharan Africa. This study is based on survey data conducted in 7 countries in Sub-Saharan Africa (SSA) between 2017 and 2018. The sample size used for the model estimation is constituted of 2724 individuals. A cluster-specific fixed effect model (CSFE) which is a modified version of logistic regression is used to test the relationship between our dependent and independent variables. The results from the study show consistently that residing in a rural area reduces the probability to adopt mobile money services and individuals residing in the urban area are more likely to adopt mobile money services. Given the fact that 59.8% of sub-Saharan African inhabitants live in rural areas, with the majority lacking access to financial services, the rural area is a big market and policymakers should direct more efforts in promoting mobile money services use in rural areas. Mobile money and financial services providers should invest in extending access to mobile money services in rural areas. This study is the first of its kind to include a sample of the head of households selected in many countries in Sub-Saharan Africa on a study on mobile money adoption. This brings out new insights on the impact of rural residency on mobile money services adoption that have not been explored by previous studies.
Book Synopsis FinTech in Sub-Saharan African Countries by : Mr.Amadou N Sy
Download or read book FinTech in Sub-Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Book Synopsis Mobile Money and Financial Inclusion in Sub-Saharan Africa by : Lukasz Grzybowski
Download or read book Mobile Money and Financial Inclusion in Sub-Saharan Africa written by Lukasz Grzybowski and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we use survey data from 12,735 individuals from nine Sub-Saharan African countries conducted in 2017. We use the geo-location of respondents to combine the survey data with information on the proximity of mobile network towers and banking facilities. We estimate a two-stage model, where in the first stage, consumers decide to adopt a feature phone or a smartphone, and in the second stage, they decide whether to use mobile money services. We find that network coverage has a significant impact on the adoption of mobile phones. We also find that mobile money is likely to be used by the young and the relatively richer to send money while the elderly and the poor are more likely to receive money via mobile wallets. These results suggest that mobile money allows the elderly and the poor to receive remittances directly from their relatives without much reliance on risky cash-intransit. Hence, expanding the mobile money system can potentially play an important role in reducing poverty and inequality.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Book Synopsis Mobile Money and Financial Inclusion in Sub-Saharan Africa Countries by : Onkokame Mothobi
Download or read book Mobile Money and Financial Inclusion in Sub-Saharan Africa Countries written by Onkokame Mothobi and published by . This book was released on 2018 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile money can potentially contribute to the well-being of people at the bottom of the pyramid by providing them with the necessary platforms to access financial services. The mobile money platforms allow individuals to send, receive or save money in their mobile money wallet, services which they cannot access in the formal banking system. However, there is a shortage of evidence on the impact of these services on issues relating to financial inclusion, such as the ability to smooth consumption on the poor, making it impossible to derive evidence-based policies. Supply-side data is generally limited, as it is impossible to discern crucial estimates, such as age, gender and income, which are crucial to the development of policies. We use an After Access Survey that collects information on access and use of ICTs in seven African countries, in 2017.Our results suggest that mobile money services are more likely to be used by individuals who have no access to bank account. Supporting the notion that these services provide the poor with services that formal banks cannot offer. We find that individuals who live in households that have a relative who migrated to other places in the country are more likely to use mobile money services. Relatively wealthier and the employed individuals are more likely to transfer money to their dependents using mobile money services. At a local level, mobile money can be seen as a tool to drive financial inclusion, but it only allows users to make transactions and does not allow consumers to borrow for consumption smoothing.
Book Synopsis Impact of Mobile Payment Applications and Transfers on Business by : Opati, Thaisaiyi Zephania
Download or read book Impact of Mobile Payment Applications and Transfers on Business written by Opati, Thaisaiyi Zephania and published by IGI Global. This book was released on 2019-12-20 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumers continue to rely heavily on their phones to complete such tasks as transferring funds between banks or accounts, depositing or withdrawing funds, paying bills, and purchasing items. Mobile money users are oftentimes more financially resilient and can protect themselves better against economic and other shocks. Moreover, mobile money can increase the velocity of money in circulation because it reduces the transactions and time costs of making retail payments. As such, understanding the impact of mobile payments is imperative for businesses and the economy. Impact of Mobile Payment Applications and Transfers on Business is a pivotal reference source that provides vital research on mobile money transfer and its impact in social, corporate, and micro- and macro-policies concerning the aggregate economy and individual households as a whole within an economy. It covers the impact, innovations, business-to-business transformations, regulatory framework, challenges, and ethical issues surrounding mobile money transfers around the world. This book is ideally designed for economists, financial analysts, business managers, leaders, scholars, practitioners, researchers, and students in fields that include management, finance, economics, commerce, and leadership.
Book Synopsis Information and Communications for Development 2012 by : World Bank
Download or read book Information and Communications for Development 2012 written by World Bank and published by World Bank Publications. This book was released on 2012-08-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Assessing what has worked, what hasn't, and why, this triennial report is an invaluable guide for understanding how to capture the benefits of information and communication technology around the world. This year's report focuses on mobile applications.
Book Synopsis Adoption of Services and Apps on Mobile Phones by Micro-entrepreneurs in Sub-Saharan Africa by : Leo Paas
Download or read book Adoption of Services and Apps on Mobile Phones by Micro-entrepreneurs in Sub-Saharan Africa written by Leo Paas and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article shows that acquisition pattern analysis is highly suited for research in developing economies. Consumers in such contexts prioritize the adoption of alternative product-services as a result of resource constraints. In the reported acquisition pattern analysis, we provide insights into sequential adoption of services and applications (apps) on mobile phones, for example, Facebook and mobile money, by micro-entrepreneurs in Sub-Saharan Africa. We collected survey data from 169 Zambian food vendors, and through Mokken scale analysis we derived an acquisition pattern for 12 analyzed services and apps. Micro-entrepreneurs with more employees, tertiary education, and who were younger tended to be closer to the hierarchy's apex. These findings imply that the individual's mobile phone technology maturity and business development drive their adoption of services and apps. After presenting these results, we conclude with a discussion of the theoretical insights, managerial insights, and implications for policy makers resulting from the study. Full paper available at https://doi.org/10.1177/1470785320938293.
Book Synopsis FinTech in Sub-Saharan African Countries by : Mr.Rodolfo Maino
Download or read book FinTech in Sub-Saharan African Countries written by Mr.Rodolfo Maino and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Book Synopsis The Role of Mobile Money in International Remittances by : Benard Kipyegon Kirui
Download or read book The Role of Mobile Money in International Remittances written by Benard Kipyegon Kirui and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Regulation of Mobile Money by : Sunduzwayo Madise
Download or read book The Regulation of Mobile Money written by Sunduzwayo Madise and published by Springer. This book was released on 2019-03-26 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of mobile money and other new forms of payment has changed the sovereign foundations of money. Starting as a Department for International Development funded project in Kenya, mobile money has now spread to many developing countries. This book looks at the regulatory issues that mobile money poses, and the potential risks to the financial system. It undertakes a comparative study of mobile money regimes in Kenya, Malaŵi, Tanzania, and South Africa. Although the main study is on Malaŵi, the lessons learnt are valuable to Sub Saharan Africa in understanding the regulatory issues surrounding mobile money. The main argument that this book makes is that the traditional regulatory architecture of supervising the financial services is ill-suited to supervise new forms of money like mobile money. With no requirement for a bank account, mobile money is not subject to prudential regulation. Mobile money is now considered a key developmental tool to achieve financial inclusion among the poor, rural based, unbanked, and underbanked. As opposed to traditional additive forms of financial inclusion, mobile money is transformative. In most jurisdictions where it has been launched, mobile money has largely been regulated using light-touch, with regulation following innovation. This work, however, proposes an approach based on the concept of really responsive regulation. This approach is best suited to embrace mobile money as it passes from the pre-financial inclusion to the post-financial inclusion phases of its evolution. This book will appeal to students and academics in the financial regulation field.
Book Synopsis Banking Services for Everyone? by : Thorsten Beck
Download or read book Banking Services for Everyone? written by Thorsten Beck and published by World Bank Publications. This book was released on 2006 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using information from 193 banks in 58 countries, the authors develop and analyze indicators of physical access, affordability, and eligibility barriers to deposit, loan, and payment services. They find substantial cross-country variation in barriers to banking and show that in many countries these barriers can potentially exclude a significant share of the population from using banking services. Correlations with bank- and country-level variables show that bank size and the availability of physical infrastructure are the most robust predictors of barriers. Further, the authors find evidence that in more competitive, open, and transparent economies, and in countries with better contractual and informational frameworks, banks impose lower barriers. Finally, though foreign banks seem to charge higher fees than other banks, in foreign dominated banking systems fees are lower and it is easier to open bank accounts and to apply for loans. On the other hand, in systems that are predominantly government-owned, customers pay lower fees but also face greater restrictions in terms of where to apply for loans and how long it takes to have applications processed. These findings have important implications for policy reforms to broaden access.
Book Synopsis Mobile Phones and Development in Africa by : Jenny C. Aker
Download or read book Mobile Phones and Development in Africa written by Jenny C. Aker and published by Springer Nature. This book was released on 2023-11-30 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the impact of information technology on the lives and livelihoods of rural households in sub-Saharan Africa, where simple mobile phones have leapfrogged traditional communication and financial technologies, and thus, arguably, offer some of the greatest potential for development. Drawing on primary and secondary research from a variety of disciplines, the authors examine the evolution of mobile phone coverage and adoption in sub-Saharan Africa over the past two decades, before exploring the main channels through which mobile phones can affect development. They then review initiatives on “digitizing development” and evaluate empirical evidence on their impact. The book argues that digital has yet to live up to the hype, ending with a set of questions that stakeholders should ask (and answer) when using digital technology for promoting development.
Book Synopsis The World Bank Research Observer by :
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Moving from the Millennium to the Sustainable Development Goals by : Sefa Awaworyi Churchill
Download or read book Moving from the Millennium to the Sustainable Development Goals written by Sefa Awaworyi Churchill and published by Springer Nature. This book was released on 2020-04-25 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a collection of chapters that examine various dimensions of development. Between 2000 and 2015, the Millennium Development Goals (MDGs) remained the overarching development framework that governed the international development community. After a decade and half of commitment to the MDGs, the framework is widely considered a success, although progress reported across countries has been uneven. The new overarching international development framework may not be successful or present the best opportunities for the desired global change without a better understanding of factors that contributed the most or the least to the attainment of the MDGs. The chapters presented in this book provide discussions and insights into understanding these factors better. They represent a collection of scholarship that address some of the important questions in international development. They adopt a wide range of research methods to provide insight into what works, and what does not, in promoting the stipulated development goals.
Book Synopsis Digital Service Delivery in Africa by : Ogechi Adeola
Download or read book Digital Service Delivery in Africa written by Ogechi Adeola and published by Springer Nature. This book was released on 2022-02-07 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamics of the world’s pervasive digital technologies is transforming organisations and enabling enterprises to create sustainable competitive advantage. This presents huge economic opportunities for Africa. This book responds to the need for African enterprises and organisations—particularly those in the service sector—to fully exploit the inherent potential in digital platforms by putting in place processes to respond effectively to changing consumer demands. Digital service delivery is conceptualised as a key driver of effective management and service delivery across the value chain of businesses. The authors offer insights into the opportunities, drivers, structures, and models of digital service delivery specific to the African context, using case studies and country-based themes that highlight how the adoption of digital platforms and practices can transform service delivery for value-creation. The book examines the scope and applications of digital businesses, emphasising the emergence, value-creation, and strategic implications for Africa’s private and public enterprises. Students, entrepreneurs, IT innovators, academics, and policymakers will gain a greater understanding of how digitalisation is shaping consumer expectations, industry practices, and service delivery in Africa.
Book Synopsis Digital Technologies for Financial Inclusion by : Rebecca Walcott
Download or read book Digital Technologies for Financial Inclusion written by Rebecca Walcott and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Globally, about 24% of adults lack access to a basic account that can safely store and transfer money. The majority of these adults live in low and middle income countries; many are poor and many are women. Financial exclusion is especially widespread in sub-Saharan Africa, where nearly half of all adults do not have a bank account (Demirguc-Kunt et al., 2018). Advances in digital financial technology, especially through the proliferation of mobile money, offer a new way to extend financial services to populations who do not have access to the formal financial sector. Mobile money technology provides users with a convenient way to send and receive payments, such as domestic remittances, as well as a mechanism to safely and privately store money. Mobile money is accessible for anyone with a mobile phone and SMS network connectivity (smartphone and internet access are not required). Existing research reveals promising improvements in financial inclusion outcomes and welfare benefits (Jack & Suri, 2014; Nanda & Kaur, 2016; Bahia et al., 2020), but mobile money innovations currently outpace the academic literature. In Chapter 1, I examine one such innovation: a 2014 Bank of Tanzania policy mandating the distribution of interest to mobile wallet account balances. I exploit the differences in interest allocation methods of different mobile money providers in Tanzania to conduct a difference-in-differences analysis of the effect of a specific savings incentive on mobile savings behavior. I find a consistent and positive effect of the savings incentive; customers under this policy had an 11 percentage point increase in the probability of saving with their mobile wallet. I also show that the mobile savings incentive produced no negative repercussions for bank account ownership, directly addressing concerns from the banking sector that mobile interest is a threat to the formal financial sector. Such findings may be highly relevant to the current policy debates around leveraging mobile money interest provision to increase financial inclusion among the world’s poorest. In Chapter 2, I investigate another mobile money innovation: digital loan repayment for microfinance customers. Existing research is largely focused on the implications of digitization for loan repayment rates and operational efficiency, but this paper uniquely centers the overlooked perspectives of microfinance borrowers. I leverage a mixed-methods approach, including a quantitative discrete choice analysis and a qualitative content analysis of stated preferences, to explore the determinants of demand for a digital repayment option among a group of current microfinance clients in Uganda. I find that borrowers’ comfortability with mobile money, education level, and perceptions of the cost and convenience of digital repayment are important determinants of demand. However, qualitative data reveal heterogeneity in borrowers’ understanding of how digital repayment will impact the microfinance group structure and their future access to credit, which has substantial implications for the uptake of digital repayment. These findings can inform the design of digital microfinance innovations and also contribute to the broader literature around technology adoption by highlighting the importance of qualitative data and user-centered research. In Chapter 3, I focus on the diffusion of mobile money policies. Specifically, I examine the policy convergence around risk-based Know-Your-Customer (KYC) regulation over time in sub-Saharan Africa. Risk-based KYC policies lower barriers to both mobile money provision and access. I ask the research question: What are the internal determinants and external influences associated with the regulator’s decision to adopt internationally recommended KYC policies for mobile money? Using an event history approach, I investigate the relative importance of domestic banking concentration, foreign aid dependence, and participation in the international financial inclusion community on the time-to-implementation of risk-based KYC policies. While domestic pressures from highly concentrated banking sectors may marginally deter risk-based KYC adoption, I find the primary accelerator of risk-based KYC policy adoption to be regional diffusion. Insight into the mechanisms underlying mobile money policy convergence lays the groundwork for future research to facilitate the regulatory components of financial inclusion promotion.
