Data; Data Governance; Data protection; Personal Data; Non-Personal Data; Open Data; Cyber-Security; Development; Africa; Malabo; AfCFTA
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Date
2023-02
Authors
Ndemo, Bitange
Mkalama, Ben
Journal Title
Journal ISSN
Volume Title
Publisher
African Economic Research Consortium
Abstract
Digitalization is quickly emerging as an avenue for future economic development. As
a result of this, financial technology companies (FinTechs) have taken to digitalization
both to understand their customers and to use data to design more productive and
convenient products. Subsequently, they are credited with making financial resources
increasingly available and affordable. In Africa, millions of people use a vast array of
proliferating mobile platforms as transactional interfaces. Although these innovations
have improved the ease of financial transactions, they are not without challenges.
Due to the dynamic nature of these processes, ubiquitous challenges affecting
collection, processing, quality and security of collected data continually emerge.
These challenges create opportunities for financial data governance. In this paper,
we explore digitalization and financial governance in Africa. We identify the current
state of knowledge and explicate how this understanding has been applied on the
continent. Finally, we specify existing knowledge gaps in areas that could form the
basis of a future research agenda for practitioners and policy makers.
Description
Keywords
Digitalization; Data governance; Digital innovation; Fintech; Africa;