Too Far, Too Costly, Too Complex: How Structural Factors Impact Women’s Mobile-Money Adoption and Business Investment in Sub-Sahara Africa

Authors

Iyabo A. Olanrele Dr, Nigerian Institute of Social and Economic ResearchFollow

Keywords

Women Entrepreneurs, Mobile Money, Structural Barriers, Sub-Sahara Africa

Abstract

This study investigates how structural factors shape women’s adoption of mobile-money services and access to credit for entrepreneurship across Sub-Sahara Africa. Using cross-country data from the 2025 Global Findex Database, the analysis demonstrates that women face disproportionately higher barriers than men. Long distances to mobile-money agents significantly reduce women’s likelihood of borrowing, while men’s borrowing is less affected. High service and transaction fees further constrain women, reflecting their lower and more irregular incomes, and liquidity limitations prevent many from maintaining active accounts. Documentation requirements, though partially mitigated by improved national ID systems and tiered Know-Your-Customer (KYC) rules, remain a secondary hurdle. The findings suggest that digital financial inclusion strategies must go beyond network expansion to address cost, proximity, liquidity, and documentation barriers. Policy recommendations include gender-responsive pricing, expanded agent networks through partnerships, low-balance accounts, microfinance-linked mobile wallets, targeted cash-transfer programs, and simplified identification frameworks. These coordinated interventions by regulators, fintech providers, and local institutions could strengthen women’s capacity to adopt mobile money, sustain active accounts, and access credit for business activities.

Author Bio

Iyabo Adeola Olanrele, PhD, is a Senior Research Fellow at the Nigerian Institute of Social and Economic Research (NISER). She specializes in energy economics, digital finance, and development policy, bringing over a decade of experience in empirical research that informs inclusive economic growth across Africa. Dr. Olanrele earned her PhD in Energy Economics from the University of Ibadan and holds MSc and BSc degrees in Economics from the University of Ilorin. Proficient in advanced econometric methods, she collaborates extensively with government agencies, development partners, and international research networks to design evidence-based policies that promote gender equity, financial inclusion, and sustainable economic transformation.

Publication Title

Bullion

Issue

4

Volume

49

First Page

62

Last Page

74

Recommended Citation

Olanrele, Iyabo A. Dr (2025) "Too Far, Too Costly, Too Complex: How Structural Factors Impact Women’s Mobile-Money Adoption and Business Investment in Sub-Sahara Africa," Bullion: Vol. 49: No. 4, Article 5.
Available at: https://dc.cbn.gov.ng/bullion/vol49/iss4/5