Digital Financial Inclusion and Market Development in East African Community Economies
African Economic Research Consortium
This volume draws together several papers addressing current issues in financial inclusion and market development in East African Community economies. The papers were written as part of a collaborative research project led by the African Economic Research Consortium through the generous support of the Bill & Melinda Gates Foundation. This collaborative volume is not only of policy relevance, but also timely as the papers study and detail financial inclusion and market development in the East African region that can be used to advance knowledge base and policy drive for sub–Saharan Africa (SSA) economies. The papers also explore how digitization fundamentally changed the nature of how financial services are delivered, with new financial sector actors, the development of digital ecosystems, and how they interoperate. In line with its mandate of strengthening local capacity for conducting independent and rigorous inquiry into problems facing the management of economies in subSaharan Africa, AERC, therefore, utilizes its collaborative research model to ring together important research contributions bearing on the question of financial inclusion and market development in East African Community (EAC) economies. These contributions shed light on the rapid evolution and the changing nature of financial services, that has raised significant issues for policy makers to address related to innovation, regulation, competition, privacy, taxation, exclusion, and monetary policy. The chapters in this volume, written by economic experts in the discipline of financial inclusion and market development, characterize financial market developments as well as electronic payments interoperability for lessons that can guide policy drive. This volume is highly recommended to policy analysts and policy makers, those working in development finance, students, and scholars from all disciplines interested in understanding financial inclusion and market development. AERC prides itself in undertaking high quality and policy-relevant research on contemporary policy issues affecting Africa’s development to better inform policy makers in the continent. Other impactful AERC collaborative projects are Re-Examining the Growth, Poverty, inequality and Redistribution Relationships in Africa; Climate change and Economic Development in Africa; Financial Inclusion in Fragile and Post Conflict States; and Work and Income for Young Men and Women in Africa: A Political Economy and Social Equity Approach to the Employment Potential of Specific Sectors and Subsectors in African Economies. AERC is a premier institution in the promotion of developmental and policy-relevant economics research in sub-Saharan Africa. In addition to promoting capacity building in research and policy analysis, AERC supports postgraduate training in economics through synergistic and collaborative masters and PhD programmes. Since 1988, AERC has mentored over 4,500 researchers from 41 African countries and produced over 4,500 master’s and PhD alumni, many of whom are mid to senior level policy makers, including governors of central banks, senior ministers and university vice chancellors throughout many countries in the continent.