Fintechs and Socio-Economic Integration: The Case of Sub-Saharan Immigrants in Morocco (African Scientific Journal)

Summary

• The study uses a survey of 100 Sub-Saharan immigrants and 25 semi-structured interviews with 15 immigrants, 5 representatives of financial institutions and 5 of NGOs.p.3
• 63% of respondents hold a bank account while 37% do not.p.16
• 72% of respondents use mobile banking and 81% use money transfers.p.16
• Distrust of banks is the most cited barrier at 57%, followed by administrative constraints at 54%.p.17
• Language barriers are reported by 45% of respondents and the digital divide by 29%.p.17
• 32% of respondents have no stable employment.p.16

Key insights

1. Digital financial services support economic autonomy and quality of life, particularly through mobile payments and remittances.p.3
2. Structural barriers persist, including administrative requirements, language barriers and distrust of financial institutions.p.3
3. 61% of respondents are aged 20 to 35 and 39% have a university education.p.15
4. Bank account holding (63%) lags the use of mobile banking (72%) and transfers (81%).p.16
5. Distrust of banks (57%) and administrative constraints (54%) are the main obstacles.p.17
6. Administrative constraints were raised in 11/15 interviews and opportunities via fintechs in 12/15.p.23
7. The sample is purposive and cannot guarantee statistical representativeness of all Sub-Saharan immigrants in Morocco.p.14