Digital transformation and adoption of mobile banking in the banking sector of African countries

Abstract

Over the past decades, global financial systems have achieved greater resilience and stability, even as they continue to face persistent challenges such as market concentration, high operational costs, intense competition, and limited access to financial services. In the African context, progress has also been recorded through regulatory reforms, institutional improvements, and technological advances. However, despite these developments, the indicators of financial development remain below expectations when compared to other developing regions.

This article seeks to provide an in-depth analysis of the determinants influencing the adoption of mobile banking in Africa. The study pays particular attention to the perceptions of two critical groups: bank employees, who are at the forefront of service delivery, and customers, whose trust and usage determine the success of innovation. By examining both the barriers—such as regulatory constraints, infrastructure gaps, and cultural resistance—and the drivers—including accessibility, convenience, and technological opportunities—the paper highlights the complex dynamics shaping financial inclusion.

The analysis is situated within an African environment characterized by rapid economic transformation, growing internet penetration, and strong demand for innovative financial solutions. Ultimately, the objective of this research is to identify the conditions under which mobile banking can evolve into a sustainable model that supports wider financial development and inclusion across the continent.

JEL code: G21, O33, L86, O55

Paper Type: Theoretical Research