Access to Finance in the Digital Age: Does Digital Financial Inclusion Promote Financial Development in Emerging Countries?

Armand Fréjuis Akpa and Mingnimon Ghislain Gnidehou

African Development Review, 2025, vol. 37, issue 2

Abstract: This study's purpose is to assess the influence of digital financial inclusion (DFI) on financial development in sub‐Saharan African (SSA). Using a sample of 26 SSA nations over the period from 2014 to 2021 and the general method of moments in system (SGMM) on panel data, the estimation results show that both digital access and digital use promote financial development. Similarly, DFI improves financial development, allowing us to confirm that DFI is a key factor that promotes financial development. The study suggests that cybersecurity needs to be strengthened to secure online platforms and that incentive policies and regulatory measures favorable for the development of human capital capable of operating in this sector need to be put in place.

Date: 2025
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