IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 12 2024
DOI: 10.56201/jafm.v10.no12.2024.pg355.368

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Technology and Conditional Financial Development of Sub- Saharan Africa (SSA) Countries

Andrew EO Erhijakpor, PhD

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Abstract

s The study was undertaken to examine technology and conditional financial development of Sub- Saharan Africa (SSA) countries. The dependent variable used in the study is the conditional financial development proxy by the domestic credit to private sector (DCPS) and the independent variable is technology proxy by mobile telephone users (MTU), internet users (INT), fixed broadband (FBOB), fixed telephone subscriptions (FTS), and urban population as a share of total population (UPTP). Secondary data were obtained from the World Development Indicators and International Telecommunication Union (ITU) for a period of 10years (2013-2022) for thirty (30) countries. Data obtained were analyzed using descriptive analysis, correlation analysis, variance inflation factor (VIF), Heteroskedasticity test, etc. E- view software package (9.0) was used to run the different pre-estimation tests, diagnostic test and the GLM test (regression test). The results reveals that mobile phones users (MTU) and Urban population as a share of total population (UPTP) affirms negative insignificant effect on domestic credit to private sectors (DCPS) of SSA countries but internet users (INT), fixed broadband (FBOB) and fixed telephones subscriptions (FTS) affirms positive significant effect on domestic credit to private sectors (DCPS) of SSA countries. Hence, the study concludes that technology have significant effects on conditional financial development of Sub- Saharan Africa (SSA) countries. The study recommends that the Federal Ministry of Communications and Digital Economy (FMCDE) should sensitize the populace on the importance of urban population and mobile phones uses, FMCDE should also create more easy access to fixed broadband in SSA countries and lastly, the study also recommends that SSA countries should encourage migration of people from villages to urban areas so as to advance the economy.

keywords:

Technology, Conditional Financial Development, SSA, Internet Users, fixed

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