Does the adoption process of financial technology in Africa follow an inverted U-shaped hypothesis? an evaluation of rogers diffusion of innovation theory

Simple item page
dc.contributor.authorOkoli, Tochukwu Timothy
dc.contributor.authorTewari, Devi Datt
dc.coverage.conferenceissn
dc.date.accessioned2026-06-24T10:17:30Z
dc.date.available2026-06-24T10:17:30Z
dc.date.issued2021
dc.departmentNameEconomics
dc.description.abstractAs the global financial system evolves towards a technology-enabled financial solution Fintech, its implication to the future of the financial system becomes a policy concern. This study investigates non-linear/inverted U-shaped Fintech adoption process among a panel of 32 African countries spanning from 2002–2018. The study argues that Fintech adoption in Africa will continue to rise and not follow the inverted U-shaped process if sustained through greater trade openness. The dynamic system GMM techniques found a strong evidence for an inverted U- shaped adoption process for the 32 African markets and 24 frontier African markets but violated among the emerging (N = 3) and fragile (N = 5) groups. The first lag of Fintech compatibility and the contemporaneous levels of relative advantage, complexity, trial-ability and observe-ability were its main determinants. The study concludes that Fintech will be replaced with new innovations in future irrespective of possible sustainability strategy. The need to strengthen African financial markets’ innovativeness to have a competitive edge on Fintech’s replacement is stressed.
dc.facultyFaculty of Commerce, Administration and Law
dc.identifier.citationOkoli, T.T. and Tewari, D.D. 2021. Does the adoption process of financial technology in Africa follow an inverted U-shaped hypothesis? an evaluation of Rogers diffusion of innovation theory. Asian Academy of Management Journal of Accounting and Finance, 17(1), pp. 281-305.
dc.identifier.issn1985-8299 (online)
dc.identifier.issn1823-4992 (print)
dc.identifier.otherhttps://doi.org/10.21315/aamjaf2021.17.1.10
dc.identifier.urihttps://openscholarship.unizulu.ac.za/handle/10530/60357
dc.inproceedingsissn
dc.issuenumber17 / 1
dc.keynoteissn
dc.language.isoEnglish
dc.pages281 - 305
dc.peerreviewedYes
dc.publisherAsian Academy of Management and Universiti Sains Malaysia
dc.subjectFintech
dc.subjectNonlinear relationship
dc.subjectCompatibility
dc.subjectComplexity
dc.subjectAfrica
dc.titleDoes the adoption process of financial technology in Africa follow an inverted U-shaped hypothesis? an evaluation of rogers diffusion of innovation theory
dc.title.alternativeAn evaluation of rogers diffusion of innovation theory
dc.title.journalAsian Academy of Management Journal of Accounting and Finance
dc.typeJournal Article
dspace.entity.typePublication
relation.isAuthorOfPublication6fbabee0-b66b-4419-9023-913eccd53f63
relation.isAuthorOfPublicationecd42eb9-dc3f-4358-871e-151ca545e39d
relation.isAuthorOfPublication.latestForDiscovery6fbabee0-b66b-4419-9023-913eccd53f63
relation.isOrgUnitOfPublicationc7eee4fb-1ae2-4b90-a48f-7edbef45aaef
relation.isOrgUnitOfPublication.latestForDiscoveryc7eee4fb-1ae2-4b90-a48f-7edbef45aaef
Files:
Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
Okoli_Tochukwu_2021.pdf
Size:
673.78 KB
Format:
Adobe Portable Document Format

Okoli_Tochukwu_2021.pdf (673.78 KB)

Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
5.18 KB
Format:
Item-specific license agreed upon to submission
Description:

license.txt (5.18 KB)

Download
Collections: Articles