Abstract
The advent of the digital banking revolution in Africa signifies a substantial shift in the financial industry of the continent, offering more inclusivity, efficiency, and innovation in response to diverse economic challenges. This chapter explores transformation’s substantial impact and benefits, analyzing its role in reorganizing the traditional banking sector and acting as a catalyst for economic expansion and increased access to financial services. The banking sector in Africa may overcome long-standing challenges by leveraging digital technologies to provide accessible, cost-efficient, and tailored financial services to its diverse population. This chapter examines the challenges faced, including regulatory hurdles and cybersecurity issues, while highlighting the promise of digital banking to foster innovation and bolster economic expansion. This chapter emphasizes the substantial influence of digital banking in advancing financial inclusion and fostering sustainable economic growth in Africa, supported by a comprehensive analysis.
| Original language | English |
|---|---|
| Title of host publication | Financial Inclusion and Sustainable Development in Sub-Saharan Africa |
| Publisher | Taylor and Francis |
| Pages | 117-135 |
| Number of pages | 19 |
| ISBN (Electronic) | 9781040300589 |
| ISBN (Print) | 9781032849379 |
| DOIs | |
| Publication status | Published - 1 Jan 2025 |
| Externally published | Yes |
ASJC Scopus subject areas
- General Economics,Econometrics and Finance
- General Business,Management and Accounting
- General Social Sciences