Attaining Sustainable Development Goals through Financial Inclusion: Exploring Collaborative Approaches to Fintech Adoption in Developing Economies

Sustainability, Journal Year: 2023, Volume and Issue: 15(17), P. 13039 - 13039

Published: Aug. 29, 2023

This study proposes a multi-stakeholder framework to enhance fintech use in Africa, aiming improve financial inclusion and achieve the Sustainable Development Goals. article analyzes past research frameworks built help stakeholders developing nations adopt fintech, some of which have been tested African states with limited success. The recommends prioritizing national ownership, creating an enabling environment for private sector investment, partnering multilateral development banks other stakeholders, fostering innovation digital literacy, focusing on cost-effective, non-government-guaranteed financing. In accordance G20’s High-Level Principles Digital Financial Inclusion, country-specific strategy can boost technology services uptake Africa. Each government may build legislative climate that supports competition, strengthens its infrastructure, increases literacy awareness, collaborates extend inclusion. Partnerships businesses, international organizations, Better Than Cash Alliance (TBTCA) promote adoption. Countries companies implement payment infrastructure by joining Alliance. Finally, mSTAR program advises cooperating USAID marginalized people, incorporate services, increase public–private engagement, educate train policymakers, practitioners, technologists. These ideas governments products faster

Language: Английский

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Block chain technology for digital financial inclusion in the industry 4.0, towards sustainable development?

Frontiers in Blockchain, Journal Year: 2023, Volume and Issue: 6

Published: Feb. 6, 2023

There is a lot of hope that blockchain technology may be used to standardize money transactions and increase access banking. It believed regulators industry professionals have looked into the possibility using modernize even replace infrastructure currently supports international payments remittances, such as correspondent banking, in order ensure can verified recorded distributed ledger. The purpose this study was analyze how has helped include previously underserved populations mainstream financial system, remark on best practices lessons learned from sustainable development. Using systematic literature review, discovered many ways which facilitate digital inclusion, including its application transactions, utility tool for increasing savings, use provision credit, insurance. According findings, though global goals do not specifically target providing services majority population critical enabler several goals. Therefore, concluded development ensured fronts if behind blockchains successfully improve inclusion. If governments, especially developing countries, are serious about citizens’ services, they must prioritize investment.

Language: Английский

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The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy

FinTech, Journal Year: 2023, Volume and Issue: 2(2), P. 327 - 343

Published: June 1, 2023

Globally, over 1.4 billion adult people remain unbanked. This worrisome phenomenon was exacerbated by the outbreak of COVID-19 pandemic, which further created a new dimension inequality in accessing financial services. Digital inclusion promises to be an effective tool for addressing this socioeconomic ill and propelling economic development. Given limited studies on subject context developing economies, it is imperative understand existing policies, practices, barriers digital economies so as provide cutting-edge interventions redress. It against background that study seeks address following research questions: (1) What state economy? (2) are policies practices regarding (3) innovative redress? Findings reveal about 44% population countries does not have access services, with only few made significant progress gains through policy practice, such mobile money interoperability, native connectivity, human capital development, digitalization public services inclusion. Our findings also identify challenges implications recommendations, discussed detail paper.

Language: Английский

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Exploring the antecedent factors of continuous intention to use mobile money: insights from emerging markets

Digital Policy Regulation and Governance, Journal Year: 2024, Volume and Issue: unknown

Published: July 23, 2024

Purpose The purpose of this study is to examine the factors that may have an influence on continuous intention use mobile money as one Financial Technology (FinTech) products beyond COVID-19 pandemic lockdown period. Design/methodology/approach This has empirically tested expanded post-acceptance model (Extend-PAM) and expectation-confirmation (ECM) explain adoption in Jordan. Data collected were analyzed through partial least squares–structural equation modeling (PLS-SEM). Findings results mainly showed quality administrative services trust significantly impact confirmation perceived usefulness. In addition, security knowledge FinTech users’ Also, usefulness satisfaction intention. Significant relationships noted among confirmation, usefulness, money. Originality/value paper integrates two key theories: post-adoption behavior Therefore, attempts fill a literature gap by examining antecedent post-consumption stage.

Language: Английский

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Taxation of the Digital Economy and Direct Digital Service Taxes: Opportunities, Challenges, and Implications for African Countries

Economies, Journal Year: 2022, Volume and Issue: 10(9), P. 219 - 219

Published: Sept. 8, 2022

Digitalization has intensified globalization and economic interactivity between countries both developed developing, increasing the complexity lack of transparency in activities. The increase digital transactions poses a remarkable challenge for tax authorities yet economy is slowly replacing traditional commercialization transactions. Conventional international legislation not kept abreast with growth its accompanying challenges respect to taxation. In view infant nature African as well auspicious possibility revenue fund public expenditure together probability contradictory outcomes policy, through critical literature review this paper assesses taxation direct service taxes (DSTs) Africa. findings were mixed. While maximization improved persuasive, arguments pointing negative externalities emanating from poor policy design equally pragmatic.

Language: Английский

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The Role of Fintech in Promoting Financial Inclusion to Achieve Sustainable Development: An Integrated Bibliometric Analysis and Systematic Literature Review

Journal of the Knowledge Economy, Journal Year: 2024, Volume and Issue: unknown

Published: July 3, 2024

Language: Английский

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Achieving Sustainable Development Goals through Financial Inclusion: Collaborative Approaches to Fin-tech Adoption in Developing Countries

Published: May 23, 2023

This research suggests a multi-stakeholder framework to increase the use of fintech in Africa, which would help continent boost its financial inclusion and reach Sustainable Development Goals (SDGs). The study evaluates previous frameworks that have been created aid adoption by several stakeholders developing nations, some tested African nations with limited success. To begin with, World Bank’s Maximising Finance for (MFD) approach through prioritization national ownership, creation an enabling environment private sector investment, partnering multilateral development banks other stakeholders, fostering innovation digital literacy, focusing on cost-effective, non-government guaranteed financing. In same vein, line G20’s High-Level Principles Digital Financial Inclusion, technologies services Africa can be promoted country-specific strategy. Each government create regulatory encourages competition, improve infrastructure, literacy awareness, collaborate expand inclusion. Furthermore, Better Than Cash Alliance’s strategy also implemented partnership businesses, international organizations, nations. By joining Alliance, countries enact rules regulations facilitate adoption, promote awareness education, design execute payment infrastructure companies. Finally, mSTAR initiative collaborating USAID, order provide support underrepresented populations, incorporate services, public-private collaboration, educate train policymakers, practitioners, technologists. implementing these strategies, accelerate solutions

Language: Английский

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Fintech, financial inclusion, and sustainable development in the African region

Frontiers in Applied Mathematics and Statistics, Journal Year: 2024, Volume and Issue: 10

Published: April 12, 2024

In this study, we explore the nexus between sustainable development and finance, with a specific focus on African region–a critical yet underexplored context in existing literature. Against backdrop of evolving challenges financial inclusion, improved access, growing prevalence technology (FinTech), aim to fill research gap by investigating connection FinTech, development. The empirical exploration spans 25 countries from 2011 2019, employing econometric methods such as dynamic panel (SGMM two-steps) static (OLS, FE, LSDV). Utilizing key indicators like Adjusted Net Savings (ANS) Gross Saving rate (GS), our findings reveal substantial positive impact inclusion FinTech However, an intriguing discovery emerges interaction these variables exhibits weak negative significant effect. As unique contribution literature, estimate marginal effects at various levels Beyond insights, study offers vital policy recommendations, emphasizing necessity for collaboration among service providers avoid redundancy. Furthermore, highlight need expand infrastructure, advocate promotion, foster inter-African cooperation.

Language: Английский

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A Review of the Literature on the Environmental and Health Impact of Plastic Waste Pollutants in Sub-Saharan Africa

Pollutants, Journal Year: 2022, Volume and Issue: 2(4), P. 531 - 545

Published: Dec. 12, 2022

The discovery of plastic by humankind is fast becoming a challenge as the end-of-life disposal continues to be discourse on global platform. This discussion results from several findings that additives in distress both land and marine life contributing organic pollutants when waste disposed improperly. With growing population sub-Saharan Africa, managing generally, waste, particular, represents continuous challenge. only between 15–25% its recycled, larger proportion either burnt openly or open spaces landfills, where pollute environment. Moreover, some finds way into waterways through estuaries water networks cause harm man food chain. article examines literature highlight environmental health impact pollution it proposes mitigation strategies reduce critical consequences pollution.

Language: Английский

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Mobile Money Taxation and Informal Workers: Evidence from Ghana’s E-Levy

Published: Sept. 1, 2022

The use of digital financial services, including money transfers and mobile money, have expanded widely in lower-income countries the past decade; 47 per cent population sub-Saharan Africa (548 million) had a registered account 2020, with 29 those accounts representing active users (Andersson-Manjang Naghavi 2021: 8). Among for which data is available, average number more than double commercial bank accounts. In many lower-middle-income countries, usage same or (Bazarbash et al. 2020). Alongside this growth, governments increasingly sought to tax DFS, rooted deeper discussions about role that technology can play increasing revenue strengthening overall state capacity (Fan 2020; Okunogbe Santoro 2021). While capturing from DFS come sources, taxes particular often been introduced due untapped potential relatively convenient easy nature handle (Lees Akol 2021a) – particularly relation to, say, corporate income on service providers. As noted above, search closely linked desire capture workers informal economy, who are framed as evaders.

Language: Английский

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