Mobile money and financial inclusion in Sub-Saharan Africa

Lukasz Grzybowski, Valentin Lindlacher and Onkokame Mothobi

Information Economics and Policy, 2023, vol. 65, issue C

Abstract: In this paper, we utilize survey data collected in 2017 from 12,735 individuals across nine Sub-Saharan African countries. We merge the survey data with geographic information related to the proximity of mobile network towers and banking facilities, based on the geo-locations of the respondents. Our estimation approach comprises a two-stage model. In the first stage, consumers make choices between adopting a feature phone or a smartphone. In the second stage, they make decisions regarding the use of mobile money services. Our findings reveal that network coverage significantly influences the adoption of mobile phones. Moreover, we observe that mobile money services are more favored by younger and relatively wealthier individuals for sending money, while older individuals and those with lower incomes tend to use mobile wallets for receiving money. Consequently, mobile money services facilitate younger migrant workers residing in areas with better infrastructure in providing support to their older relatives in less developed regions.

Keywords: Mobile money; Sub-Saharan Africa; Financial inclusion (search for similar items in EconPapers)
JEL-codes: L86 L96 O12 O16 O18 O33 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Working Paper: Mobile money and financial inclusion in Sub-Saharan Africa (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:iepoli:v:65:y:2023:i:c:s0167624523000495

DOI: 10.1016/j.infoecopol.2023.101064

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