Fintech is sold as the Answer to Africa’s Problems
Cathleen LeGrand, Chris Paterson and Jörg Wiegratz
April 22, 2024
Digital Money Services have downsides which media often overlook. The growth of Fintech in Africa is supported by a powerful narrative which tends to exaggerate its benefits and conceal its downsides. The narrative includes cash-like attributes such as financial inclusion; budget management, universality and protection of privacy and civil liberties which do not apply to digital monies.
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