FinTech in Sub-Saharan African Countries: A Game Changer?

By Amadou N Sy, Rodolfo Maino, Alexander Massara, Hector Perez-Saiz, Preya Sharma

February 14, 2019

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Format: Chicago

Amadou N Sy, Rodolfo Maino, Alexander Massara, Hector Perez-Saiz, and Preya Sharma. FinTech in Sub-Saharan African Countries: A Game Changer?, (USA: International Monetary Fund, 2019) accessed December 22, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

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.

Subject: Banking, Blockchain and DLT, Financial services, Fintech, Mobile banking, Technological innovation, Technology

Keywords: Account penetration, Africa, Agents in sub-Saharan Africa, Anchors inflation, Benefits of FinTech, Blockchain and DLT, DP, DPPP, East Africa, Efficiency gain, Fintech, FinTech in Sub-Saharan Africa, Global, IMF Library, Market share, Market structure, Mobile banking, Monetary policy, Money multiplier, Money transfer operator, Payment system provider, Sub-Saharan Africa, Sub-Saharan Africa country, Sub-Saharan Africa relative, Technical efficiency, Technological innovation, Trade-offs FinTech

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No. 2019/004
Stock No:

FTSSACEA
ISBN:

9781484385661
ISSN:

2616-5333

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