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Guest editorial

Guest editorial Marketing financial services in sub-Saharan Africa The growth potential of sub-Saharan Africa (SSA) is well documented in practitioner reports (e.g. PricewaterhouseCoopers (PWC), World Bank and McKinsey). Exciting opportunities abound in this region and have caught the attention of major investors from all over the globe who perceive SSA countries as attractive markets for foreign direct investment (Amankwah- Amoah et al., 2018a). This region is home to approximately 550 million people of employment age and the market potential for banking is estimated between $490 and $950bn in additional credit (PWC, 2017). To fully capitalise on the growth potential evident in SSA, it is important for regulators, policymakers and commerce to ensure that financial inclusion is fast-tracked across all economic spheres, particularly households (PWC, 2017). Extant literature argues for the promotion of mobile money, in particular (e.g. Bongomin et al., 2018; Gosavi, 2018; Mothobi and Grzybowski, 2017), to address the need for greater financial inclusion in SSA banking systems that are still largely underdeveloped and bounded by low infrastructure levels. Mobile telephony contributes to connecting people with each other as well as with information, services and markets (Aker and Mbiti, 2010). However, the SSA financial services industry is on the brink http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Guest editorial

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0265-2323
DOI
10.1108/ijbm-05-2021-613
Publisher site
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Abstract

Marketing financial services in sub-Saharan Africa The growth potential of sub-Saharan Africa (SSA) is well documented in practitioner reports (e.g. PricewaterhouseCoopers (PWC), World Bank and McKinsey). Exciting opportunities abound in this region and have caught the attention of major investors from all over the globe who perceive SSA countries as attractive markets for foreign direct investment (Amankwah- Amoah et al., 2018a). This region is home to approximately 550 million people of employment age and the market potential for banking is estimated between $490 and $950bn in additional credit (PWC, 2017). To fully capitalise on the growth potential evident in SSA, it is important for regulators, policymakers and commerce to ensure that financial inclusion is fast-tracked across all economic spheres, particularly households (PWC, 2017). Extant literature argues for the promotion of mobile money, in particular (e.g. Bongomin et al., 2018; Gosavi, 2018; Mothobi and Grzybowski, 2017), to address the need for greater financial inclusion in SSA banking systems that are still largely underdeveloped and bounded by low infrastructure levels. Mobile telephony contributes to connecting people with each other as well as with information, services and markets (Aker and Mbiti, 2010). However, the SSA financial services industry is on the brink

Journal

International Journal of Bank Marketing – Emerald Publishing

Published: Jun 8, 2021

References

  • Mobile phones and economic development in Africa
    Aker, J.C.; Mbiti, I.M.
  • Africa rising in an emerging world: an international marketing perspective
    Amankwah-Amoah, J.; Boso, N.; Debrah, Y.A.
  • Meeting the 21st century challenges of doing business in Africa
    Amankwah-Amoah, J.; Egbetokun, A.; Osabutey, E.L.
  • Financial inclusion in sub-Saharan Africa: recent trends and determinants
    Asuming, P.O.; Osei-Agyei, L.G.; Mohammed, J.I.
  • Mobile money and financial inclusion in sub-Saharan Africa: the moderating role of social networks
    Bongomin, G.; Ntayi, J.; Munene, J.; Malinga, C.
  • What determines financial inclusion in Sub-Saharan Africa?
    Chikalipah, S.
  • Can mobile money help firms mitigate the problem of access to finance in Eastern sub-Saharan Africa?
    Gosavi, A.
  • Infrastructure deficiencies and adoption of mobile money in Sub-Saharan Africa
    Mothobi, O.; Grzybowski, L.
  • Is the rise of Pan-African banking the next big thing in Sub-Saharan Africa?
  • The determinants of financial inclusion in Africa
    Zins, A.; Weill, L.