Sub-Saharan Africa could be fintech hub – IMF author
Wider adoption of mobile banking provides platform for further developments, says Amadou Sy
The wider adoption of mobile banking services in sub-Saharan Africa offers the continent an opportunity to develop new innovations in finance, says Amadou Sy, adviser at the International Monetary Fund.
In the region, transactions through mobile money are close to 10% of GDP, in comparison to 7% in Asia and less than 2% in other high-income regions.
This higher adoption of mobile banking derives from the historically insufficient development of more traditional forms of banking, says Sy. While
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Reserve Bank of India plans to take payments system to 20 countries
Peruvian central bank signs agreement to use India’s Unified Payment Interface
Saudi Central Bank joins mBridge
Cross-border CBDC project with China, Hong Kong, Thailand and the UAE opens up further
Cross-border payments key to boosting riel, Cambodian governor says
QR payments set to expand to India and Japan, as central bank aims for independent monetary policy
Book notes: Fintech: finance, technology and regulation, by Ross Buckley, Douglas Arner and Dirk Zetzsche
An excellent overview of fintech 3.0 and 4.0 that also includes suggestions for smart regulation
China links CBDC to Hong Kong’s fast payments system
Hong Kong residents can top up wallets via 17 retail banks as PBoC continues to promote use
Regulators must be wary of AI’s ‘invisible hand’ – BoE official
Two members of the financial policy committee back idea of AI “constitution”
Cecilia Skingsley on monetary policy tech and a unified ledger
Head of the BIS Innovation Hub speaks about tokenisation, CBDCs and the ‘black box problem’ in AI
Basel Committee examines financial system in digital flux
Supervisory authorities outline fintech risks in first report since 2018
Most read
- BoE reserves framework drawn into political arena
- How the Czech National Bank brought inflation down from 18% to 2% in two years
- ECB appoints three senior officials to supervisory board