Abstract

Financial exclusion continues to pose a significant challenge to economic development in rural Sub-Saharan Africa, where many communities lack access to formal financial services. Mobile banking has emerged as a transformative innovation, leveraging the widespread availability of mobile phones to provide affordable, accessible, and convenient financial services. Therefore, this study seeks to answer the central research question of how mobile banking influence financial inclusion and fosters economic growth in rural Sub-Saharan Africa, and what are the key barriers to its adoption? The objective of the study is to create awareness on the part of the rural populace to leverage on modern digital technology, which facilitate wealth creation. Employing a mixed-methodology research design, data were gathered through surveys of rural households and small business owners, alongside interviews with financial service providers across selected countries in the region. Quantitative analysis reveals that mobile banking substantially improves access to savings, credit, and payment services, which in turn enhances household incomes and supports the growth of small-scale enterprises. The qualitative component uncovers persistent challenges such as limited digital literacy, poor telecommunications infrastructure, and a lack of trust in digital financial services, which impede widespread adoption and usage. Based on these findings, the study recommends targeted interventions including digital literacy programs, infrastructure investments, and confidence-building measures to maximize the potential of mobile banking as a driver of inclusive economic growth. These results provide valuable insights for policymakers, financial institutions, and development organizations aiming to harness digital financial technologies to reduce poverty and promote sustainable development in rural Sub-Saharan Africa.