Fintech and Financial Inclusion: Evaluating the Impact of Mobile Banking on SME Growth in Sub-Saharan Africa

This study investigates the role of mobile banking as a fintech innovation in enhancing financial inclusion and promoting the growth of small and medium-sized enterprises (SMEs) in Sub-Saharan Africa. Despite the region’s historical limitations in accessing formal financial services, the widespread adoption of mobile banking presents a transformative opportunity for SMEs to overcome traditional financial constraints. Using a quantitative research design, primary data were collected through structured questionnaires administered to SME owners across Nigeria, Ghana, and Kenya. The data were analyzed using descriptive statistics and regression analysis via SPSS and STATA software. Findings indicate a strong positive correlation between mobile banking usage and improvements in SME financial accessibility, operational efficiency, and revenue growth. The study also identifies digital literacy, regulatory support, and infrastructure quality as critical moderating factors in mobile banking adoption. By shedding light on the socio-economic implications of digital financial services, this research contributes to the discourse on inclusive finance and offers policy recommendations to deepen mobile banking penetration and SME support mechanisms across the region. The study underscores the potential of fintech solutions to bridge financial gaps and catalyze inclusive economic development in Sub-Saharan Africa.