Digital technology and innovation in Africa: leapfrogging in finance

Njuguna Ndung'u and Alex Oguso

Chapter 5 in Technological Leapfrogging and Innovation in Africa, 2023, pp 89-111 from Edward Elgar Publishing

Abstract: This chapter pieces together discussions on the evolution of digital financial services in Africa that has pushed financial inclusion and leapfrogging in the financial sector in the continent. The innovation, growth, and success of retail electronic payments platforms beginning with M-Pesa in Kenya in 2007 have elevated this concept to a menu of digital financial services that is accessible, efficient, transparent, and safe. This has allowed provision of more information and practical solutions that have built a platform of avenues through which technology is leapfrogging financial development in Africa. It is demonstrated that digital transformation in various sectors of the economy, supported by an efficient electronic payments system, will generate opportunities for the next diverse and sustainable growth frontier in African economies. The chapter argues that the digital revolution being experienced across Africa could allow countries to enhance the prospects of the fourth industrial revolution in the continent.

Keywords: Business and Management; Development Studies; Economics and Finance; Innovations and Technology; Politics and Public Policy (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781800370395.00013 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:19935_5

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().