Influence of Psychosocial Variables on the Adoption of Digital Credit: An Application to Ivorian SMEs (Revue Française d'Economie et de Gestion)

Summary

• SMEs represent 98% of registered companies in Côte d'Ivoire and contribute an average of approximately 20% to GDP, but they face persistent challenges accessing bank financing.p.3
• Interest rates charged by banking institutions in French-speaking Africa range between 10% and 22%, driving businesses toward alternative options such as digital credit.p.3
• In Abidjan, 84% of Ivorian SMEs are domiciled, and the survey sample was distributed across trade (147), services (77), agro-food and others (66), and small industry (59).p.11
• The empirical model explains 61% of the variance in digital credit adoption behavior (R² = 0.61) among Ivorian SME owners.p.16
• Subjective social norms show a significant positive effect on adoption behavior (β = 0.69; t = 12.81; p < 0.01), whereas perceived risk exhibits a significant negative effect (β = -0.21; t = -3.61; p < 0.01).p.16

Key insights

1. Subjective social norms represent the strongest determinant of digital credit adoption behavior among Ivorian SME owner-managers.p.16
2. Perceived risk negatively affects digital credit adoption due to concerns regarding transaction security, data confidentiality, and repayment terms.p.16
3. An owner-manager's individual attitude toward digital credit does not have a statistically significant effect on adoption behavior (β = 0.04; t = 0.70; p > 0.05).p.16
4. Perceived behavioral control has no significant effect on digital credit adoption (β = -0.01; t = -0.23; p > 0.05), as widespread smartphone usage and high education levels reduce technical barriers.p.16
5. The sample of 349 surveyed entrepreneurs features 52.45% women and 47.55% men, demonstrating strong female representation in Ivorian SME ownership.p.13
6. Orange Bank Africa partnered with GUDE-PME to set up a digital credit facility totaling 1 billion CFA francs aimed at SMEs and artisans in Côte d'Ivoire.p.6
7. Digital credit loans under the Orange Bank Africa and GUDE-PME partnership typically range between 5,000 and 1 million CFA francs, with special provisions reaching up to 50 million CFA francs.p.6
8. The majority of surveyed enterprises are young, with 27.94% operating for less than 5 years and 25% operating for 5 to 10 years.p.13