Digital Financial Inclusion, and the Way Forward for Emerging Markets: Towards Sustainable Development

Abstract

The burgeoning field of digital finance has the potential to assist in the long-term development of developing countries in several ways. Two of these ways include expanding people's access to financial services in developing countries, which in turn can boost economic growth and the amount of tax revenue collected. It is also important for underserved people, including women, to have access to digital financial services so that they may participate in the modern economy. In the following chapter, we are going to zero in on the particulars of the many aspects of digital financial inclusion in the African context. Additionally, some of the opportunities for digital financial inclusion are discussed in this chapter. This is a topic that hasn't received a lot of critical attention in the previous research done on Africa. Digital financial inclusion in Africa is beneficial for users of financial services, suppliers of digital finance, governments, and the economy; nevertheless, there are still several difficulties that, if handled, might improve how well digital finance works for people, organizations, and governments. In the chapter's conclusion, some of the steps that governments ought to take were outlined in detail to ensure that digital financial services make a greater contribution to the advancement of sustainable development.