Green Remittances: A novel form of sustainability finance

Exploring the Impacts of Digitizing Financial Products and Services in Microfinance on Entrepreneurial Innovations in Sub-Saharan Africa

“…In comparison with existing businesses, we nd that all three digitalization indicators -namely debit or credit cards, mobile micro nance, and fund transfers -augment the likelihood of sustaining businesses established for some time (Mills, 2023). These tools enable businesses to optimise transaction costs inherent in their activities and enhance their operational e ciency.…”

“…However, in developing countries, the effects of ICT on entrepreneurial nancing are conditioned by the level of digital infrastructure. Therefore, evaluating these effects would effectively be concurrent with the evolution of ICT themselves (Mills, 2023). Ivanaj et al (2021) emphasise the importance of jointly considering elements for multinational corporations to contribute to Sustainable Development Goals (SDGs).…”

“…It encapsulates social goals for which the institution has designed products, services, and procedures aimed at greater access to nancial services. This variable of interest is instrumented by proxies for digitization, such as fund transfer services, including those of migrants (TRANS), debit or credit cards (CART), and mobile micro nance (MOB) (Mills, 2023). These ICT indicators are considered complementary products and services, with accelerating effects on innovation nancing, depending on the level of digital infrastructure development and mastery of nancial innovations.…”

“…Where Y i measures the nancing of innovations, N i the increase in nancial services, D i the digitalization variables, including debit or credit cards, mobile micro nance, fund transfers, including those from migrants (Mills, 2023), and X i the control variables. As the data is survey data and essentially binary, the chosen estimation method is that of the seemingly unrelated bivariate probit regression.…”

“…Digitized production or service processes encompass digital planning and control, online ordering, booking, delivery, or tracking services, as well as digital nancial services like transfers, credit card usage, banking, and mobile micro nance (Mills, 2023). Recent research suggests that digitizing production or service delivery processes fosters increased nancing (Myovelle et al, 2020; Liu et al, 2021;Vo et al, 2021) and has a positive and signi cant impact on innovative solutions such as entrepreneurial innovations (Liu et al, 2021).…”