Executive Summary

Digital and E-learning Solutions for Financial Service Providers in Sub-Saharan Africa: An Overview

The research identifies that capacity constraints are a key market failure that contribute to low levels of financial inclusion in sub-Saharan Africa (SSA). Although information and communication technology (ICT) could reduce capacity building transaction costs, few Financial Service Providers (FSPs) seem to be taking advantage of electronic learning (e-learning) to address capacity constraints. This research was designed to explore why this is the case, and to identify actions that might be taken to encourage and/or support the use of ICT to facilitate cost-effective learning within SSA’s financial sector.

The report highlights the following as factors that affect FSPs willingness to pay for e-learning solutions:

  • Lack of information about how much different solutions cost and what the return on investment will be (particularly when a large initial investment is required).
  • Limited ability to design quality content at an affordable price.
  • Poor internet connectivity and/or power supply.

Consequently, the research identified nine components of an employee value proposition for e-learning. These include:

  • Speed
  • Access
  • Ease
  • Perspective
  • Anonymity
  • Relevance
  • Affordability
  • Status
  • Credentials

The report further recommends the following 5 principles that can guide any stakeholder seeking to embrace e-learning to address financial sector capacity constraints

  • Think mobile
  • Think micro
  • Think nimble
  • Leverage existing motivation (of FSPs and their employees
  • Collaborate