Practical Insights on Digital Financial Services

digital financial services

African Digital Financial Services

Innovation in digital financial services is allowing Africans to move up the financial services value chain. From mobile money payments, customers in sub-Saharan Africa are gaining access to mobile banking and other online banking services as they open saving accounts, take out loans, purchase insurance, and invest in Government securities or in stock markets with a few touches of their mobile phone.

African FinTech Innovations

New innovations in fintech are proceeding rapidly. New technologies are being developed and implemented on the continent, and they have the potential to yield significant benefits for Africa. Recognizing this, foreign investors have stepped up their backing for African fintech firms, while those firms develop solutions adapted to the region, for example, to cater for the relatively lower internet speed in some areas. The falling price of smartphones will also help the region reap the rewards of internet-based solutions.

African Digital Financial Inclusion

In our new paper, we suggest that the challenge now is for the continent to leverage this success in mobile money. It needs to transition to other fintech services and a digital economy. Greater digital inclusion and innovation will not only spur economic growth but a growth that comes with new jobs—the number one preoccupation on a continent that will see more than half the world’s population growth by 2050.

Africa is well positioned to meet its fintech and digital challenges, and with the right policies in place, it could reap a “digital dividend.”

Have You Experienced Gender Inequity in Artificial Intelligence Applications?

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Published on: Apr 08 2021 by Guest Writer - 3 Comments
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Apply Now: $130,000 FinTech Innovation Startup Funding from VISA

Apply Now: $130,000 FinTech Innovation Startup Funding from VISA

Published on: Mar 15 2021 by Wayan Vota - 3 Comments
Innovation in digital financial services is allowing Africans to move up the “financial services value chain.” From mobile money payments, customers in sub-Saharan...
4 Ways Public Development Banks Can Digitize Their Financing Solutions

4 Ways Public Development Banks Can Digitize Their Financing Solutions

Published on: Mar 04 2021 by Guest Writer - Comments Off on 4 Ways Public Development Banks Can Digitize Their Financing Solutions
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5 Lessons Learned Using Digital Financial Services for COVID-19 Relief

Published on: Nov 12 2020 by Wayan Vota - Comments Off on 5 Lessons Learned Using Digital Financial Services for COVID-19 Relief
Many countries have launched unprecedented relief packages to cushion the economic and social impact of the COVID-19 pandemic. Information is still limited on how...
Apply Now: $850,000 for Women’s Digital Financial Inclusion Research

Apply Now: $850,000 for Women’s Digital Financial Inclusion Research

Published on: Nov 02 2020 by Wayan Vota - 4 Comments
Internet access and information and communication technologies create new opportunities for digital financial services that increase financial inclusion. Yet 1.7...
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Why Do Women Suffer Gender Gaps in COVID-19 Digital Payments?

Published on: Oct 28 2020 by Wayan Vota - Comments Off on Why Do Women Suffer Gender Gaps in COVID-19 Digital Payments?
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Published on: Oct 22 2020 by Guest Writer - 1 Comment
Digital identity as a tool of governance promises the inclusion of the marginalised and undocumented populations. There are major efforts globally under programs...
How to Use Digital Payments During COVID-19 Response

How to Use Digital Payments During COVID-19 Response

Published on: Oct 07 2020 by Guest Writer - Comments Off on How to Use Digital Payments During COVID-19 Response
The pandemic is affecting the way people interact with money; how much we spend, what we buy, and whether to opt for digital payments. In the US the switch to digital...
The State of Mobile Money in Southern African Countries

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Published on: Sep 09 2020 by Guest Writer - 1 Comment
Being a young Zimbabwean who holds no faith in our banking system – mobile money has been a big part of my life. Around 49% of Zimbabweans are registered with...
Apply Now: $150,000 Grant Funding for Digital Social Insurance Solutions

Apply Now: $150,000 Grant Funding for Digital Social Insurance Solutions

Published on: Aug 03 2020 by Wayan Vota - 6 Comments
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