Digital Financial Inclusion and Economic Resilience in Sub-Saharan Africa: A Scoping Review

Adeyemi Olatunbosun (), John Ademu, Solomon Mensah, Chuks, Nwadiwe, Christianah Gabriel, Funmilayo Balogun, Barakat Junaid and Hafeez Oyebamiji
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Adeyemi Olatunbosun: Robinson College of Business, Georgia State University, Atlanta Georgia, USA.
John Ademu: Department of Finance, Faculty of Economics, National Research University Higher School of Economics, Nizhny Novgorod, Russia.
Solomon Mensah: Department of Finance, Faculty of Economics, National Research University Higher School of Economics, Nizhny Novgorod, Russia.
Chuks, Nwadiwe: Department of Finance, Faculty of Economics, National Research University Higher School of Economics, Nizhny Novgorod, Russia.
Christianah Gabriel: Department of Health Promotion and Education, Faculty of Education, University of Ilorin, Kwara State, Nigeria.
Funmilayo Balogun: Department of Philosophy, Faculty of Arts, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria.
Barakat Junaid: Department of Business Development, Faculty of Management, National Research University Higher School of Economics, Nizhny Novgorod, Russia.
Hafeez Oyebamiji: Department of Business Administration, College of Doctoral Studies, Grand Canyon University, Phoenix, Arizona, USA.

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Abstract: Background: Digital financial inclusion has emerged as a key strategy to address economic challenges in Sub-Saharan Africa (SSA), where over 70% of the population remains unbanked. The rapid growth of mobile money, mobile banking, and fintech solutions has transformed financial access, especially in underserved and rural areas. However, despite these advancements, the region's economic resilience remains fragile, with significant gaps in the effective usage of these digital tools. Objectives: The aim of this study was to assess the role of digital financial inclusion in enhancing economic resilience in SSA. It focuses on identifying the drivers, barriers, and outcomes of digital financial tools, and examining the role of policy and infrastructure in shaping their impact. Methodology: A scoping review methodology was employed, with a comprehensive search conducted across Google Scholar, African Journals Online (AJOL), and SSRN. Studies published between 2020 and 2025 were selected, focusing on the relationship between digital financial inclusion tools and economic resilience in Sub-Saharan Africa. Data synthesis was performed through a narrative approach, organizing findings thematically. Findings: The review finds that mobile money and fintech solutions have improved financial access and supported poverty reduction, entrepreneurship, and risk mitigation. However, barriers such as low digital literacy, gender inequality, and regulatory challenges limit the full potential of these tools. The analysis shows that effective policy frameworks and institutional support are crucial in fostering broader economic resilience. The impact of these tools varies across SSA, influenced by local economic and institutional contexts. Conclusion: Digital financial inclusion has the potential to enhance economic resilience in SSA, but its effectiveness depends on complementary infrastructure, financial literacy, and regulatory support. Future research should focus on long-term impacts and macroeconomic resilience.

Date: 2026-01-03
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Published in Journal of Economics and Trade, 2026, 11 (1), pp.25 - 41

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