Despite the potency of Financial Technology (FinTech) in facilitating financial inclusion, the determinants of the diffusion in Small and Medium-Sized Enterprises (SMEs) remain intricate. Consequently, the study assesses the determinants of the diffusion of FinTech Payment Services (mobile money, card, and online payments) by SMEs in the context of Ghana. We sample 407 registered SMEs with the Association of Ghanaian Industries (AGI) and employ hierarchical logistic regression models to explore the multiplicative effects of SMEs Chief Executive Officers Characteristics (CEOC), Business Characteristics (BUSC), and FinTech Payment Service Characteristics (FPSC) on the Diffusion of FinTech Payment Services (DFPS). Consistent with the technology diffusion theories, the finding reveals that CEOC, BUSC, and FPSC altogether determines the DFPS in Ghanaian SMEs. Thus, the combined effects of human, business, and technology actors drive the DFPS in SMEs. Therefore, the optimal design of FinTech services is critical for mass diffusion by SMEs in emerging economies.

The aim of this research was to establish the nexus between liquidity and the viability of quoted non-financial establishments in Ghana. Panel data deduced from the published annual reports of 15 entities for the period 2008 to 2017 was employed for the study. Preliminarily, cross-sectional reliance, unit root, serial correlation, heteroscedasticity, co-integration, and causality tests were respectively performed. Our findings established that there exists no cross-sectional reliance, and input variables are stationary and co-integrated with no presence of heteroscedasticity and serial correlation. Estimates from the random effects generalized least squares (GLS) regression showed that liquidity has significant adverse effect on the firms’ Return on Equity (ROE) but had insignificantly positive effect on ROE when surrogated by the cash flow ratio. Finally, test based on causalities uncovered that, with the exception of Current Ratio and ROE that are flanked by bidirectional liaison, no other causal affiliation was evidenced amid other variables. Policy recommendations are further discussed.

Strategic decisions like supply chain integration and interfirm value co-creation are significant to SMEs’ performance. Therefore, this paper aims to find out the relationships between supply chain integration, interfirm value co-creation, and firm performance in Ghanaian SMEs. We employed a structural equation model (SEM) to estimate the responses of 473 SMEs registered with the Association of Ghanaian Industries (AGI) to find the nexus between supply chain integration, interfirm value co-creation, and the performance of Ghanaian SMEs. Further, we test for the mediating role of innovation capability and stakeholder pressure in the relationships between supply chain integration and firm performance and the relationship between supply chain integration and interfirm value co-creation, respectively. We found a positive significant relationship between the variables. Innovation capability mediates the positive relationship between supply chain integration and firm performance. Interfirm value co-creation has a negative relationship with the innovation capabilities of SMEs. Therefore, Ghanaian SMEs can invest in technologies, which promote collaborations with external parties to create value while minimizing cost.

Blockchain has attracted attention within business circles because it promotes secure and cost-saving transactions between anonymous parties without human mediation. This study examines the Technological Organizational and Environmental (TOE) drivers of blockchain supply chain finance adoption in Ghanaian SMEs. Specifically, this study differs from prior studies employing the United Theory of Acceptance and Use of Technology (UTAUT) and the Technology Acceptance Model (TAM) which ignores the TOE elements. Utilising the Partial Least Squares Structural Equation Modelling method (PLS-SEM) and nonlinear non-compensatory PLS-ANN approach, we provide empirical evidence using data from 214 registered SME members of the Association of Ghana Industries (AGI). Our findings suggest that relative advantage, cost, and complexity significantly influence the adoption of blockchain supply chain finance in SMEs. However, competitive pressure, market dynamics, and SME owner/manager support had no statistically significant influence on the intention of SMEs to adopt blockchain supply chain finance. This is because of the relatively low adoption rate of blockchain applications in SMEs in the country. Therefore, extensive education on the applications of blockchain technology is required to stimulate diffusion amongst SMEs.

The financial landscape of sub-Sahara Africa is undergoing major changes due to the advent of FinTech, which has seen mobile payments boom in the region. This paper examines the salient role of mobile payments in traditional banks’ drive toward financial accessibility in sub-Sahara Africa by using panel econometric approaches that consider the issues of independencies among cross-sectional residuals. Using data from the World Development Index (WDI) 2011–2017 on 11 countries in the region, empirical results from cross-sectional dependence (CD) tests, panel unit root test, panel cointegration test, and the fully modified ordinary least squares (FMOLS) approach indicates that (i) the panel time series data are cross-sectionally independent, (ii) the variables have the same order of integration and are cointegrated, and (iii) growth in mobile payment transactions had a significant positive relationship with formal account ownership, the number of ATMs, and number of new bank branches in the long-run. The paper therefore confirms that the institutional structure of traditional banks that makes them competitive, irrespective of emerging disruptive technologies, has stimulated overall financial accessibility in the region leading to overall sustainable growth in the financial sector. We conclude the paper with feasible policy suggestions.

Purpose: This paper employs data from the World Bank to examine the effect of traditional banks on FinTech and financial development in the Southern African Development Community (SADC) region.Design/methodology/approach: The study employs the Generalized Method of Moments (GMM) as the primary data analysis method.Findings: The findings of the study demonstrate a bi-directional relationship between traditional financial institutions and FinTech. Traditional financial institutions are observed to facilitate the adoption of FinTech solutions, whilst the disruptive effects of FinTech incentivize traditional banks to adapt to the changing financial landscape and tailor their service and product offerings to reflect recent technological advancements. Consequently, there exists a positive relationship between traditional financial institutions and financial development in the SADC region.Practical implications: Our findings suggest the need for market liberalization and enhanced institutional quality controls for policymakers. Traditional banks must adapt their business models and incorporate FinTech solutions to remain competitive and relevant. Collaborative partnerships between traditional banks and FinTech firms have emerged as a practical approach to leverage the strengths of both sectors.Originality/value: This is one of the first studies to examine the role of traditional financial institutions in FinTech and financial development using GMM in the SADC region.