Success factors and failure of digital finance projects and adoption of digital financial services by MFI clients

Digital financial services have huge benefits not only for users but also for providers. Increasingly, these services are taking place in microfinance institutions (MFIs). While these digital services were only in vogue in East Africa in the past few years, now they are gaining a foothold in the West African MFI market. 

The first part of this research focuses on the dynamics of the digitalization of West African MFIs in order to identify the factors of success and failure of digital finance projects. The advantages mentioned for the implementation of digital financial services can only be achieved if clients adopt them, use them and continue to use these services in the long term. 

The second part focuses on the process of adoption of digital solutions by MFI clients in West Africa (Burkina Faso, Benin and Togo).

Author: Patrick Muhrula, EMP trainee in Brussels in 2019