The African Finance Journal

2003 - 2025

From Africagrowth Institute
Contact information at EDIRC.
Bibliographic data for series maintained by Kirk De Doncker ().

Access Statistics for this journal.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

Volume 27, issue 1, 2025

Impact of Financial Technology on Financial Inclusion, the Effect of Rules and Regulations: The Case of Ghana pp. 1-12

KhuFrank Boateng Agyei, Nirjhar Nigam and Khodor Shatila

The Role of Financial Development and Government Size in Moderating the Effect of Global Uncertainty on International Trade in Africa pp. 13-31

Oliver E. Ogbonna and Mulatu F. Zerihun

New Business Creation and Intersectoral Linkages in Sub-Saharan Africa pp. 32-52

Saara L. M. Hamunye and Michael Graham

Explainable Deep Learning for Financial Risk: Joint VaR and ES Forecasting Using ESRNN in the Bitcoin Market pp. 53-69

Katleho Makatjane and Claris Shoko

Volume 26, issue 2, 2024

Can Fintech really Address Gender Disparity in Financial Inclusion? Some Answers from Kenya pp. 1-26

Odongo Kodongo and Diana Ngui

What Determines Household Participation in Credit Markets in Malawi? pp. 27-42

Wytone Jombo and Wook Sohn

Access to Finance, Financial Development and Manufacturing Firms' Export: Insights from Enterprise Surveys in Africa pp. 43-57

Mustapha Jobarteh

Optimizing Bank Stability Through MSME Loan Securitization: A Predictive and Prescriptive Analytics Approach pp. 58-79

Khulood Mohammed BaLashwar, Yuosuf Khalid Al-Hamar and Seyed-Ali Sadegh-Zadeh

Volume 26, issue 1, 2024

Financial Market Development and the Microstructure of Corporate Bond Markets in Africa: A Survey pp. 1-33

Wycliffe Oluoch and Kalu Ojah

Cybersecurity Risk Disclosure, Board Characteristics, and Firm Performance in the Fourth Industrial Revolution Era: Evidence from an Emerging Economy pp. 34-53

Reon Matemane, Varaidzo Denhere, Maatabudi Mokabane and Titus Ayobami Ojeyinka

Does Value-added Tax Revenue Inspire Growth? Evidence from Southern Africa pp. 54-64

Zurika Robinson and Jesse De Beer

Foreign Bank Participation and Financial Inclusion in Emerging Economies - Evidence from Sub-Saharan Africa pp. 65-77

Vera Fiador and Sarah Anobil Okyere

Volume 25, issue 2, 2023

Entrepreneurship, Digital Finance Channels and Financial Development: Evidence from the African Context pp. 1-17

Daniel Ofori-Sasu, Eunice Adu-Darko, Gloria Clarissa Dzeha and Adelaide Kastner

Asymmetric Connectedness within Cryptocurrency Ecosystem: An asymmetric Power ARCH (APARCH) Approach pp. 18-30

Jules Clement Mba and Magdaline Mbong Mai

Impact of Digital Financial Technology on Financial Inclusion in Sub- Saharan Africa: The Moderation Role of Institutional Quality pp. 31-45

James N. Doku, Khadijah Iddrisu, Deborah N. A. S. Bortey and Jonas Ladime

Monetary Policy and Inflation in Ethiopia pp. 46-61

Ferdinand Ahiakpor, William G. Cantah, Edward Sennoga and Paul Mpuga

Volume 25, issue 1, 2023

Liquidity in Domestic Public Debt Markets for Enabling Infrastructure Financing: The Case of Sub-Saharan Africa pp. 1-25

Paul Mukoki, Kalu Ojah and Odongo Kodongo

The Determinants of Capital Structure in Mozambique’s Non-financial Firms: 2010-2015 pp. 26-44

Valter Tito Manjate, Pedro Rino Vieira and Matias Jaime Farahane

Sovereign Default Risk and Financial Market Returns in Africa pp. 45-62

John Dhokotera, Josine Uwilingiye and Khouzeima Moutanabbir

Financial Inclusion, Investments and Economic Growth: Does Investment Mediate Financial Inclusion for Economic Growth in Africa? pp. 63-84

Gladys A. A. Nabieu, Amoah T. Kwabena and James D. Ntiamoah

Gender and Financial Inclusion in Cameroon: An Analysis of Gender Gaps in Access to Formal and Informal Financial Services pp. 85-101

Steve Douanla Meli, Benjamin Fomba Kamga and Hervé Mougnol A. Ekoula

Volume 24, issue 2, 2022

Regional Convergence among Anglophone West African Countries: Evidence from Interest Rate Analysis pp. 1-16

Amos Twum and Meshach Aziakpono

Risk-taking Behavior, Regulatory Policy and Banking crisis: Evidence from the African Economies pp. 17-37

Daniel Ofori-Sasu, Emmanuel Sarpong-Kumankoma, Elikplimi K. Agbloyor and Joshua Y. Abor

The Impact of Financial Inclusion on the Livelihoods of Rural Smallholder Farmers in Nigeria pp. 38-50

Olayinka Adegbite and Charles Machethe

Out-of-sample Predictability of the South African Equity Risk Premium Distribution: A Quantile Regression Approach pp. 51-65

Munyaradzi Chawana, Ilse Botha and Yolanda Stander

Volume 24, issue 1, 2022

Do Bank Characteristics Affect Bank Lending Behaviour? pp. 1-15

Offiong Helen Solomon, Andy Mullineux and Phillip De Jager

A Note on the Profitability of African Banks: Islamic Versus Conventional pp. 16-23

Whelsy Boungou

Quality as an Investment Style: Evidence from South Africa pp. 24-36

James Britten, Daniel Page and David McClelland

Female Corporate Board Executives and Bank Profitability: Exploring for Complementarities and Synergies pp. 37-49

Peter K. Luh, Baah A. Kusi, Agyapomaa Gyeke-Dako and Vera O. Fiador

The Impact of Accounting Accruals Before, During, and After an Economic Crisis: Evidence from South Africa pp. 50-64

John H. Hall, Elda du Toit and Rudra P. Pradhan

Volume 23, issue 2, 2021

Selecting the Ideal Risk-Free Rate Proxy for the South African Market pp. 1-21

Chris van Heerden

Access to Finance and Efficiency of Firms in Ghana pp. 22-35

Ferdinand Ahiakpor, Issac Dasmani, Samuel Kobina Annim and Ralph Essem Nordjo

Exchange Rate Risk and International Equity Portfolio Diversification: A South African Investor’s Perspective pp. 36-49

Charles Raoul Tchuinkam Djemo, John Weirstrass Muteba Mwamba and Mathias Manguzvane

A Comparison of the Stylised Facts of Bitcoin, Ethereum and the JSE Stock Returns pp. 50-64

Forbes Kaseke, Shaun Ramroop and Henry Mhwambi

Volume 23, issue 1, 2021

Chairman’s Letter, Impression Management and Governance Mechanisms: The Case of South African Listed Firms pp. 1-19

Jacques Totowa and Thabang Mokoaleli-Mokoteli

African Banking Sector Development: The Roles of Remittances and Monetary Policy pp. 20-40

Joshua Y. Abor, Mohammed Amidu, Emmanuel Sarpong-Kumankoma and Haruna Issahaku

The Impact of Fiscal Policy Variables on Private Investment in Nigeria pp. 41-55

Yusuf Abdulkarim and Mohamed Saidatulakmal

A Hybrid Neural Network GARCH Approach to Forecasting Zimbabwean Inflation Volatility pp. 56-73

Nigel E.N. Chitambo, Darren Lee and Sure Mataramvura

Volume 22, issue 2, 2020

Agricultural Finance Constraints in the Nigerian Agricultural Sector pp. 1-21

Margaret Adesugba and George Mavrotas

Structure and Market Power in the South African Banking Sector pp. 22-39

Nomasomi Ngonyama and Munacinga Simatele

Zimbabwean Commercial Banks Performance under Multiple-Currency System: A Dynamic Panel Data Analysis pp. 40-51

Caroline Makumbe, Regret Sunge and James Zivanomoyo

Volume 22, issue 1, 2020

Value-at-Risk in Frontier Markets: Adapted Models and Evidences from Two North-African Stock Exchanges pp. 1-20

Mhamed-Ali El-Aroui and Wafa Snoussi

The Impact of the Adoption of International Financial Reporting Standards on Foreign Direct Investment in Africa pp. 21-49

Matthew Olubayo Omotoso, Daniel Petrus Schutte and Heinz Eckart Klingelhöfer

Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria pp. 50-69

Amr Hosny

Volume 21, issue 2, 2019

The Effect of Aid on Growth in the Presence of Economic Regime Change pp. 1-23

Solomon Samanhyia and Danny Cassimon

A Comparative Analysis of Aggregational Gaussianity Across Different Market Capitalisations for JSE-listed Shares and Indices pp. 24-35

Ryan Kruger, Chun-Sung Huang, Kanshukan Rajaratnam and Chun-Kai Huang

Left Behind, but Included: The Case of Migrant Remittances and Financial Inclusion in Ghana pp. 36-63

Mohammed Amidu, Joshua Abor and Haruna Issahaku

Volume 21, issue 1, 2019

Revisiting Financial Development and Income Inequality Nexus for Africa pp. 1-22

Mustapha Jobarteh and Huseyin Kaya

Do Banking Institutions Respond to Incentives? Banking Awards and Stability Evidence from an Emerging Economy pp. 23-49

Lord Mensah, Charles Andoh, Saint Kuttu and Baah Kusi

Do Exchange Rate Changes have Symmetric or Asymmetric Effects on Money Demand in Nigeria? pp. 50-66

Olalekan Bashir Aworinde and Ishola Rufus Akintoye

Demographic Shift and Bank Stability in SADC Countries pp. 67-85

Kolade Sunday Adesina and Beatrice Desiree Simo-Kengne

Fiscal Policy Sustainability in SADC Countries pp. 86-97

Ntokozo Nzimande and Harold Ngalawa