Rural communities in Africa face various challenges related to infrastructure, limited economic activities and poverty. The COVID-19 pandemic, which aggravated some of the rural areas’ socioeconomic conditions, has illuminated the vast divide in accessing digital platforms for social services and financial access. Rural communities’ socioeconomic burdens can be alleviated through participation in the digital economy; however, this is yet to be a reality for these communities. While financial digital technologies have helped with financial access elsewhere, the same cannot be said for Africa’s rural areas. This exclusion is because location plays a significant role in the availability of digital solutions; hence areas with limited infrastructure will not have access to products such as digital financing, which is supposed to reach those that are far from financial institutions. The study employed a systematic literature view to understand the extent of financial inclusion in Africa. Content and thematic analysis were used to analyse the data. The findings highlighted a myriad of challenges that affect the participation of the rural population in the digital economy, stemming from access to and stable supply of electricity, the poor or limited infrastructure required for accessing digital products and gender-related issues where women’s gendered roles limit them from harnessing digital products. The study revealed that there is a shortage of digital products to reach all that needs access to finance. This is due to infrastructural challenges that are making access difficult for digital products such as mobile money to reach rural communities. Therefore, policymakers must focus on digital transformation for rural areas and support the usage of financial digital technologies to build the rural digital economy. In this way they will be promoting digital inclusion and reducing digital inequalities.

digital financial inclusion; digital economy; rural areas; Africa; gender

Adegbite, O. O. (2021). Financial inclusion of rural smallholder farmers in Nigeria: Measurement issues, impact on livelihood and implications for policy interventions. University of Pretoria.

Adegbite, O. O., & Machethe, C. L. (2020). Bridging the financial inclusion gender gap in smallholder agriculture in Nigeria: An untapped potential for sustainable development. World Development, 127, 104755. https://doi.org/10.1016/j.worlddev.2019.104755

Adera, A., & Abdisa, L. T. (2023). Financial inclusion and women’s economic empowerment: Evidence from Ethiopia. Cogent Economics & Finance, 11(2). https://doi.org/10.1080/23322039.2023.2244864

Ajide, F. M. (2020). Financial inclusion in Africa: does it promote entrepreneurship? Journal of Financial Economic Policy, 12(4), 687–706. https://doi.org/10.1108/jfep-08-2019-0159

Aker, J. C. (2022). Fintech for Rural Markets in Sub-Saharan Africa. In: Madon, M., & Gadgil, A. J. (editors). Introduction to Development Engineering: A Framework with Applications from the Field. Springer International Publishing Cham.

Ali, H. M., & George, L. S. (2019). A qualitative analysis of the impact of Kudumbashree and MGNREGA on the lives of women belonging to a coastal community in Kerala. Journal of Family Medicine and Primary Care, 8(9), 2832-2836. https://doi.org/10.4103/jfmpc.jfmpc_581_19

Ali, S., & Munir, Q. (2022). Moderating role of trade openness between export upgrading and economic growth. Pakistan Journal of Commerce and Social Sciences (PJCSS), 16(4), 530-551.

Anakpo, G., Xhate, Z., & Mishi, S. (2023). The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy. FinTech, 2(2), 327–343. https://doi.org/10.3390/fintech2020019

Anshari, M., Almunawar, M. N., Masri, M., et al. (2019). Digital Marketplace and FinTech to Support Agriculture Sustainability. Energy Procedia, 156, 234–238. https://doi.org/10.1016/j.egypro.2018.11.134

Asuming, P. O., Osei-Agyei, L. G., & Mohammed, J. I. (2019). Financial Inclusion in Sub-Saharan Africa: Recent Trends and Determinants. Journal of African Business, 20(1), 112–134. https://doi.org/10.1080/15228916.2018.1484209

Aterido, R., Beck, T., & Iacovone, L. (2013). Access to Finance in Sub-Saharan Africa: Is There a Gender Gap? World Development, 47, 102–120. https://doi.org/10.1016/j.worlddev.2013.02.013

Bishop, M., Burgess, R., & Zipfel, C. (2023). Technology and Development. In: Madon, T., Gadgil, A. J., Anderson, R., et al. (editors). Introduction to Development Engineering: A Framework with Applications from the Field. Springer International Publishing.

Bongomin, G. O. C., Akol Malinga, C., Amani Manzi, A., et al. (2023). Agent liquidity: A catalyst for mobile money banking among the unbanked poor population in rural sub-Saharan Africa. Cogent Economics & Finance, 11(1). https://doi.org/10.1080/23322039.2023.2203435

Bongomin, O. C. G., Munene, J. C., Mpeera, J. N., & Akol, C. M. (2017). Financial inclusion in rural Uganda: The role of social capital and generational values. Cogent Business & Management, 4(1), 1302866. https://doi.org/10.1080/23311975.2017.1302866

Bruhn, M., & Love, I. (2014). The Real Impact of Improved Access to Finance: Evidence from Mexico. The Journal of Finance, 69(3), 1347–1376. Portico. https://doi.org/10.1111/jofi.12091

Chinoda, T., & Kapingura, F. M. (2023). Digital financial inclusion and economic growth in Sub-Saharan Africa: the role of institutions and governance. African Journal of Economic and Management Studies, 15(1), 15–30. https://doi.org/10.1108/ajems-09-2022-0372

Chozarira, T. L., Sakarombe, U., & Chagwedera, E. (2023). Financial Inclusion and Women-Led Small and Medium Enterprises (SMEs) Performance during Covid-19 in Chipadze, Bindura Town. Eurasian Journal of Economic and Business Studies, 1(67), 97–108. https://doi.org/10.47703/ejebs.v1i67.221

Churchill, S. A., & Marisetty, V. B. (2020). Financial inclusion and poverty: a tale of forty-five thousand households. Applied Economics, 52(16), 1777–1788. https://doi.org/10.1080/00036846.2019.1678732

Cicchiello, A. F., Kazemikhasragh, A., Monferrá, S., et al. (2021). Financial inclusion and development in the least developed countries in Asia and Africa. Journal of Innovation and Entrepreneurship, 10(1). https://doi.org/10.1186/s13731-021-00190-4

Coffie, C. P. K., & Hongjiang, Z. (2023). FinTech market development and financial inclusion in Ghana: The role of heterogeneous actors. Technological Forecasting and Social Change, 186, 122127. https://doi.org/10.1016/j.techfore.2022.122127

Demirguc-Kunt, A., Klapper, L., Singer, D., et al. (2018). The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution. Washington, DC: World Bank. https://doi.org/10.1596/978-1-4648-1259-0

Efobi, U., Beecroft, I., & Osabuohien, E. (2014). Access to and use of bank services in Nigeria: Micro-econometric evidence. Review of Development Finance, 4(2), 104–114. https://doi.org/10.1016/j.rdf.2014.05.002

Embassy of Ethiopia. 2022. Overview about Ethiopia. Available online: https://ethiopianembassy.org/overview-about-ethiopia/ (accessed on 25 April 2024).

FinMark Trust. (2017). Research Report on Mobile Money in South Africa. Available online: https://finmark.org.za/system/documents/files/000/000/267/original/Final-Report-on-Mobile-Money-in-South-Africa.pdf?1603094540 (accessed on 22 December 2023).

FinMark Trust. (2022). Annual Report 2022. Available online: https://finmark.org.za/Publications/2022_Annual_Report.pdf (accessed on 22 December 2023).

Gapp, B., de Fauconberg, Â., Bessis, A., et al. (2022). Digital Finance in Africa: Accelerating Foundations for Inclusive and Sustainable Local Innovation. ICSD 2021. https://doi.org/10.3390/environsciproc2022015066

Hooda, M., Rana, C., Dahiya, O., et al. (2022). Artificial Intelligence for Assessment and Feedback to Enhance Student Success in Higher Education. Mathematical Problems in Engineering, 2022, 1–19. https://doi.org/10.1155/2022/5215722

Ibrahim, B. E. D. A. (2022). Lessons for African microfinance providers and regulators in the aftermath of COVID-19. Enterprise Development & Microfinance, (3), 182-191. https://doi.org/10.3362/1755-1986.21-00020

Jalal, A., Al Mubarak, M., & Durani, F. (2024). Financial Technology (Fintech). In: Hamdan, A., & Aldhaen, E. S. (editors). Artificial Intelligence and Transforming Digital Marketing. Springer Nature Switzerland. https://doi.org/10.1007/978-3-031-35828-9_45

Khan, F., Siddiqui, M. A., & Imtiaz, S. (2022). Role of financial literacy in achieving financial inclusion: A review, synthesis and research agenda. Cogent Business & Management, 9(1). https://doi.org/10.1080/23311975.2022.2034236

Komodromos, M. (2021). Interactive radio, social network sites and development in Africa: a literature review study. Journal of Enterprising Communities: People and Places in the Global Economy, 15(2), 282–295. https://doi.org/10.1108/jec-06-2020-0111

Koti, K., & Modiba, F. S. (2022). The role of microfinance institutions in enhancing the sustainability of women-owned SMMES. Investment Management and Financial Innovations, 19(2), 306-319. https://doi.org/10.21511/imfi.19(2).2022.27

Liu, G., Huang, Y., & Huang, Z. (2021). Determinants and Mechanisms of Digital Financial Inclusion Development: Based on Urban-Rural Differences. Agronomy, 11(9), 1833. https://doi.org/10.3390/agronomy11091833

Machasio, I. N. (2020). COVID-19 and Digital Financial Inclusion in Africa: How to Leverage Digital Technologies During the Pandemic. World Bank, Washington, DC. https://doi.org/10.1596/34637

Mahmood, S., Shuhui, W., Aslam, S., et al. (2023). Financial Inclusion: Does it matter in Alleviating Poverty in Pakistan. Social Indicators Research, 169(3), 1125–1146. https://doi.org/10.1007/s11205-023-03200-y

Mapanje, O., Karuaihe, S., Machethe, C., et al. (2023). Financing Sustainable Agriculture in Sub-Saharan Africa: A Review of the Role of Financial Technologies. Sustainability, 15(5), 4587. https://doi.org/10.3390/su15054587

Menashe‐Oren, A., & Stecklov, G. (2018). Rural/Urban Population Age and Sex Composition in sub‐Saharan Africa 1980–2015. Population and Development Review, 44(1), 7–35. Portico. https://doi.org/10.1111/padr.12122

Mhlanga, D. (2020). Industry 4.0 in Finance: The Impact of Artificial Intelligence (AI) on Digital Financial Inclusion. International Journal of Financial Studies, 8(3), 45. https://doi.org/10.3390/ijfs8030045

Miine, L. K., Akorsu, A. D., Boampong, O., et al. (2023). Drivers and intensity of adoption of digital agricultural services by smallholder farmers in Ghana. Heliyon, 9(12), e23023. https://doi.org/10.1016/j.heliyon.2023.e23023

Mkansi, M., & Nsakanda, A. L. (2023). Mobile application e-grocery retail adoption challenges and coping strategies: a South African small and medium enterprises’ perspective. Electronic Commerce Research. https://doi.org/10.1007/s10660-023-09698-1

Modisagae, K., & Ackermann, C. (2018). Determinants of defaulting by collateral lending groups in microfinancing: A probit regression approach. Acta Commercii, 18(1). https://doi.org/10.4102/ac.v18i1.562

Molla, A., & Jaghoub, S. A. (2007). Evaluating digital inclusion projects: a livelihood approach. International Journal of Knowledge and Learning, 3(6), 592. https://doi.org/10.1504/ijkl.2007.016835

Mvogo, G., Ndzana, M., & Bidiasse, H. (2023). The determinants of the adoption of mobile money by small enterprises (SEs) in Douala, Cameroon. African Journal of Science, Technology, Innovation and Development, 15(3), 287–299. https://doi.org/10.1080/20421338.2022.2076579

Nsiah, A. Y., Yusif, H., Tweneboah, G., et al. (2021). The effect of financial inclusion on poverty reduction in Sub-Sahara Africa: Does threshold matter? Cogent Social Sciences, 7(1). https://doi.org/10.1080/23311886.2021.1903138

Onyeneke, R. U., Ankrah, D. A., Atta-Ankomah, R., et al. (2023). Information and Communication Technologies and Agricultural Production: New Evidence from Africa. Applied Sciences, 13(6), 3918. https://doi.org/10.3390/app13063918

Park, C.-Y., & Mercado, R. (2015). Financial inclusion, poverty, and income inequality in developing Asia. Asian Development Bank Economics Working Paper Series, 426.

Parkinson, S., & Ramirez, R. (2006). Using a Sustainable Livelihoods Approach to Assessing the Impact of ICTs in Development. The Journal of Community Informatics, 2(3). https://doi.org/10.15353/joci.v2i3.2072

Rafiq, M., & Adewale, A. (2019). Factors influencing financial inclusion in India. International Journal of Business and Management, 3(6), 23–32. https://doi.org/10.26666/rmp.ijbm.2019.6.4

Rajan, R. G. (2009). The Credit Crisis and Cycle-Proof Regulation. Review, 91. https://doi.org/10.20955/r.91.397-402

Raza, M. S., Tang, J., Rubab, S., et al. (2019). Determining the nexus between financial inclusion and economic development in Pakistan. Journal of Money Laundering Control, 22(2), 195–209. https://doi.org/10.1108/jmlc-12-2017-0068

Rocca, C., & Fernández, D. F. (2020). Serving Africa’s Citizens: Governance and Urban Service Delivery. In: Cheema, S. (editor). Governance for Urban Services: Access, Participation, Accountability, and Transparency. Springer Singapore.

Rosen, M. A. (2020). Sustainability: Concepts, Definitions, and Applications. In Alvarez-Risco, A., Rosen, M. A., Del-Aguila-Arcentales, S. & Marinova, D. (editors). Building Sustainable Cities: Social, Economic and Environmental Factors. Springer International Publishing.

Roy, P., & Patro, B. (2022). Financial Inclusion of Women and Gender Gap in Access to Finance: A Systematic Literature Review. Vision: The Journal of Business Perspective, 26(3), 282–299. https://doi.org/10.1177/09722629221104205

Sanusi, I. T., Oyelere, S. S., & Omidiora, J. O. (2022). Exploring teachers’ preconceptions of teaching machine learning in high school: A preliminary insight from Africa. Computers and Education Open, 3, 100072. https://doi.org/10.1016/j.caeo.2021.100072

Seadira, B. D., & Heuva, W. E. (2021). Exclusion of South African Rural Communities from Digital Communication Podia: A Regulatory Conundrum. Communicatio, 47(4), 72–98. https://doi.org/10.1080/02500167.2022.2039736

Sebaggala, R., Kawuki, J., & Nantongo, M. (2019). Access to Financial Credit Facilities by Farming Households in Uganda. Business and Economic Management Review, 1(1), 1-26.

Simatele, M. (2021). E-payment instruments and welfare: The case of Zimbabwe. The Journal for Transdisciplinary Research in Southern Africa, 17(1). https://doi.org/10.4102/td.v17i1.823

Smith, C. (2015). An Analysis of Digital Inclusion Projects: Three Crucial Factors and Four Key Components. Journal of Information Technology Education: Research, 14, 179–188. https://doi.org/10.28945/2262

Takeda, A., & Ito, Y. (2021). A review of FinTech research. International Journal of Technology Management, 86(1), 67. https://doi.org/10.1504/ijtm.2021.115761

Telukdarie, A., & Mungar, A. (2023). The Impact of Digital Financial Technology on Accelerating Financial Inclusion in Developing Economies. Procedia Computer Science, 217, 670–678. https://doi.org/10.1016/j.procs.2022.12.263

Hove, L., & Dubus, A. (2019). M-PESA and Financial Inclusion in Kenya: Of Paying Comes Saving? Sustainability, 11(3), 568. https://doi.org/10.3390/su11030568

von Fintel, D., & Moses, E. (2017). Migration and gender in South Africa: Following bright lights and the fortunes of others? Regional Science Policy & Practice, 9(4), 251–268. Portico. https://doi.org/10.1111/rsp3.12106

Were, M., Odongo, M., & Israel, C. (2021). Gender disparities in financial inclusion in Tanzania. WIDER Working Paper. https://doi.org/10.35188/unu-wider/2021/037-5

World Bank. (2024). Rural population-sub-Saharan Africa. World Bank. Available online: https://data.worldbank.org/indicator/SP.RUR.TOTL?locations=ZG (accessed on 22 December 2023).

Xie, S., Jin, C., Song, T., et al. (2023). Research on the long tail mechanism of digital finance alleviating the relative poverty of rural households. PLOS ONE, 18(4), e0284988. https://doi.org/10.1371/journal.pone.0284988

Zhu, Y., Bashir, S., & Marie, M. (2022). Assessing the Relationship between Poverty and Economic Growth: Does Sustainable Development Goal Can be Achieved? Environmental Science and Pollution Research, 29(19), 27613–27623. https://doi.org/10.1007/s11356-021-18240-5