Mobile Money and Financial Literacy Among Senegalese Youth: Affecting Savings Behaviour in Congo Contexts

Mobile money platforms have emerged as a significant financial innovation in Africa, particularly among youth who are increasingly digital natives. In Senegal and Congo, initiatives aim to bridge the gap between formal banking systems and informal savings practices. A mixed-methods approach combining quantitative surveys with qualitative interviews was employed to gather data from a representative sample of youth across urban and rural areas in Senegal and Congo, focusing on mobile money users versus non-users. The analysis revealed that mobile money usage significantly improved financial literacy scores by an average of 20% among surveyed participants compared to those not using mobile money platforms. This digital literacy was particularly pronounced in Congolese contexts where savings behaviour showed a marked increase, with respondents saving up to 35% more through mobile channels. This study provides evidence that integrating mobile money into financial education programmes can effectively enhance both financial literacy and savings habits among young people in diverse African settings. Policy makers should consider mandating digital financial literacy as part of the standard curriculum for youth, with a focus on supporting underserved regions through targeted interventions and partnerships with existing mobile money providers. Mobile Money, Financial Literacy, Savings Behaviour, Youth, Digital Finance