Mobile fintech adoption in Sub-Saharan Africa: A systematic literature review and meta-analysis

Lars Hornuf, Kulondwa Safari and Johannes Voshaar

Research in International Business and Finance, 2025, vol. 73, issue PA

Abstract: Financial technology (fintech) has become an important means of promoting financial inclusion in developing countries. Understanding why people use fintech services is crucial for improving financial inclusion and policy development. This study examines the drivers of mobile fintech service adoption in Sub-Saharan Africa, a region with the lowest financial inclusion rates in the world. We analyze the determinants of the use of mobile money, mobile banking, electronic wallets, and internet banking by summarizing the extensive empirical research through a systematic literature review. Based on a meta-analysis, we conclude that perceived ease of use and perceived usefulness are most important. We also find a lack of research on how the supply side drives fintech adoption. Finally, we find large-scale field experiments to be underrepresented in the literature. Policymakers should focus on enhancing digital and financial literacy and setting standards for technology compatibility to create a supportive regulatory environment for wider mobile fintech adoption in Sub-Saharan Africa.

Keywords: Fintech; Mobile banking; Mobile money; E-wallet; Internet banking; Literature review; Meta-analysis (search for similar items in EconPapers)
JEL-codes: D14 G21 G53 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:73:y:2025:i:pa:s0275531924003222

DOI: 10.1016/j.ribaf.2024.102529

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