Fintech In Sub Saharan African Countries
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FinTech in Sub Saharan African Countries
Author | : Mr.Rodolfo Maino,Mr.Alexander Massara,Hector Perez Saiz,Preya Sharma,Mr.Amadou N Sy |
Publsiher | : International Monetary Fund |
Total Pages | : 61 |
Release | : 2019-02-14 |
Genre | : Business & Economics |
ISBN | : 9781484399453 |
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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.
FinTech in Sub Saharan Africa
Author | : David L. Yermack |
Publsiher | : Unknown |
Total Pages | : 32 |
Release | : 2018 |
Genre | : Economic development |
ISBN | : OCLC:1056177894 |
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The FinTech sector has begun to grow rapidly in sub-Saharan Africa. I document far greater adoption of social media, digital currency, ride sharing, and other FinTech applications in countries with a common law legal heritage compared to those with a civil law system, suggesting that legal origin plays a critical role in setting the stage for growth through entrepreneurship in the developing world. The electrical, telecom, and Internet infrastructure required for FinTech has been built out more extensively in common law countries. Financial inclusion outcomes are also better in emerging markets that have a common law heritage.
Financial Development in Sub Saharan Africa
Author | : Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe |
Publsiher | : International Monetary Fund |
Total Pages | : 79 |
Release | : 2016-09-14 |
Genre | : Business & Economics |
ISBN | : 9781475536355 |
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This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.
Central Bank Digital Currency and Other Digital Payments in Sub Saharan Africa
Author | : Mr. Luca A Ricci,Mr. Calixte Ahokpossi,Anna Belianska,Khushboo Khandelwal,Ms. Sunwoo Lee,Ms. Grace B Li,Mr. Yibin Mu,Mr. Saad N Quayyum,Silvia G Nunez,Mr. Jack J Ree,Marcos Rietti Souto,Felix F. Simione |
Publsiher | : International Monetary Fund |
Total Pages | : 91 |
Release | : 2024-03-27 |
Genre | : Business & Economics |
ISBN | : 9798400273025 |
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This Fintech Note reports key findings from the Sub-Saharan Africa Central Bank Digital Currency (CBDC) and Digital Payments Survey, shedding light on the motivations, benefits, and challenges of CBDC adoption, as well as the developments of digital private money and crypto assets in sub-Saharan Africa. It emphasizes the pivotal role of collaboration and shared knowledge in navigating the intricate landscape of digital currencies and assets in sub-Saharan Africa. As this evolving digital frontier is explored, the experiences and aspirations of the region’s central banks, as expressed in the survey, will help harness the potential for digital currencies, assets, and payments, and foster cooperation among countries in sub-Saharan Africa. A forthcoming IMF Departmental Paper will focus on key issues for countries in sub-Saharan Africa pertaining to CBDCs, private digital payments, and crypto assets. It will provide a deeper discussion of the benefits, costs, and risks of these digital payment systems and present policy options to enhance financial digital development and inclusion, while safeguarding macroeconomic and financial stability.
Sub Saharan Africa
Author | : Ms.Catherine A. Pattillo,Ms.Anne Marie Gulde,Mr.Kevin Joseph Carey,Ms.Smita Wagh,Mr.Jakob Christensen |
Publsiher | : International Monetary Fund |
Total Pages | : 62 |
Release | : 2006-08-28 |
Genre | : Business & Economics |
ISBN | : 1589065654 |
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Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.
Financial Sector Development in Sub Saharan African Countries
Author | : Mr.Peter C. Hayward,Mr.George Iden,Mr.Tonny Lybek,Mr.Hassanali Mehran,Mr.Stephen Swaray,Mr.Piero Ugolini,Jean-Pierre Briffaut |
Publsiher | : International Monetary Fund |
Total Pages | : 126 |
Release | : 1998-10-01 |
Genre | : Business & Economics |
ISBN | : 1557757585 |
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This study takes stock of progress made so far in the financial sectors of sub-saharan African countries. It recommends further reforms and specific measures in the areas of supervision, development of monetary operations and financial markets, external sector liberalization, central bank autonomy and accountability, payments system, and central bank accounting and auditing.
Developing Africa s Financial Services
Author | : Dana T. Redford |
Publsiher | : Emerald Group Publishing |
Total Pages | : 312 |
Release | : 2017-05-11 |
Genre | : Business & Economics |
ISBN | : 9781787146365 |
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Financial services are an essential element in powering entrepreneurial activity beyond resource extraction in Africa. This book examines the macro-trends and highlights inspiring success stories of entrepreneurial financial sector ventures that are making a lasting contribution to the economic development of various sub-Saharan African countries.