Publication in International Business and Finance

Professor Dr. Lars Hornuf and Kulondwa Safari have published a new article in Research in International Business and Finance titled “Mobile fintech adoption in Sub-Saharan Africa: A systematic literature review and meta-analysis.” The article emerged in collaboration with Johannes Voshaar.

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. The authors 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, the authors conclude that perceived ease of use and perceived usefulness are most important. The authors also find a lack of research on how the supply side drives fintech adoption. Finally, the authors 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.