Type of Resource:
Policy brief

Year of Publication:
2016

Indicators:
- Challenges
- Solutions or Strategies
- Trends


Themes:
- Digital Literacy And Skills
- Internet Access, Affordability And Use
- Internet Based Entrepreneurship

Author(s): ECA POLICY BRIEF

today in sub-Saharan Africa, 12 per cent of adults have access to financial services via FinTech, especially in rural areas through 140 mobile money schemes deployed in 39 African countries. More than 40 per cent of adults in the SSA region uses mobile money services on a regular basis. With the mobile phone as a “bank terminal” Africa leads the world in money transfers using mobile phones, with 14 per cent of all Africans receiving money through mobile transfers5 and 134 million active mobile money accountsin 2016. Challenges faced include: poor regulation, limited infrastructure, cybersecurity, high cost of bandwidth, skills and digital literacy. Solutions include: policy, improving access to broadband, promotion of a safe and efficient banking system and promotion of fintech startups.

URL
https://uneca.org/sites/default/files/PublicationFiles/eca_policy_brief_promoting_fintech_start-ups_rev1.pdf

Region of Study:


Country of Study:
Africa,

Study Quality
Medium