FinTech in Sub-Saharan African Countries: A Game Changer?
Policy measures are needed to reap the potential benefits of FinTech while managing associated risks. First, policymakers need to fill the large existing infrastructure gap in the region, starting with electricity and internet services. Second, there is a need to address the perennial race between fast-moving innovation and the slower pace of regulation. Third, policymakers should look beyond the potential benefits of FinTech in just the financial sector to consider the possible impact on employment and productivity, the digital economy, and more broadly, the scope for much needed structural transformation.