Fintech: Innovating Financial Inclusion for African Small and Medium-sized Enterprises

Selma Haj Khlifa () and Nada Srifi ()
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Selma Haj Khlifa: Professor and Doctor of Science, Department of Finance, Groupe ISCAE, Casablanca, Morocco
Nada Srifi: PhD Candidate, Department of Finance, Groupe ISCAE, Casablanca, Morocco

European Journal of Studies in Management and Business, 2025, vol. 34, 42-63

Abstract: Small and Medium-Sized Enterprises (SMEs) are the lifeblood of Africa’s economy. However, one of their biggest challenges is access to Finance. This study assesses the potential of Financial Technologies (fintech), as an innovative force, in addressing the financial inclusion challenges faced by SMEs across African countries. By adopting an exploratory approach, meticulously reviewing relevant published materials and data from reputable sources such as the World Bank, this study analyzes the correlation between SMEs’ financial inclusion and fintech implementation in Africa. Employing Principal Component Analysis (PCA) and regression modeling in R Studio, this study provides a rigorous analysis of this dynamic. The results indicate that increased usage of fintech significantly improves access to funding and enhances financial inclusion. However, while fintech is bridging the business gap, it cannot operate in isolation. A robust ecosystem, trust-building, and infrastructure are essential to fintech’s success.

Keywords: Financial Inclusion; Fintech; Small and Medium-sized Enterprises; African Countries; Innovation (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bco:mbrqaa::v:34:y:2025:p:42-63

DOI: 10.32038/mbrq.2025.34.03

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