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Information Technology for Development

Author ORCID Identifier

Serge-Lopez Wamba-Taguimdje: https://orcid.org/0000-0002-4493-4695

Jean Robert Kala Kamdjoug: https://orcid.org/0000-0002-5734-5902

Pascal Koko Bashengezi: https://orcid.org/0009-0003-3000-1012

Abstract

This paper explores how financial literacy and social networks reinforce the impact of financial technology, particularly mobile money, as a driver of financial inclusion and development. It also investigates how social networks, understood as interdependence among individuals, shape financial literacy and influence customer behaviors such as perceived value, customer engagement, and continuance intention, ultimately contributing to financial inclusion in terms of access, quality, usage, and welfare. Drawing on social network theory and prior research on financial literacy, financial inclusion, and technology post-adoption, the paper develops a conceptual research model and tests it using partial least squares structural equation modeling based on data from 481 mobile money users. The findings indicate that subjective financial knowledge and financial capability influence perceived value, and that financial capability and perceived value, in turn, impact customer engagement and continuance intention. Customer engagement and continuance intention are the main predictors of financial inclusion, while interdependence is the most prominent predictor of financial literacy. This paper offers an innovative perspective by adopting a context-specific theoretical approach in the field of information and communication technologies for development (ICT4D). We make a significant contribution to the literature by demonstrating how the combination of technological, educational, and social factors amplifies the benefits of mobile money from an ICT4D perspective, thereby extending its reach and impact.

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