Essossimna/adabi-fintech-analysis-alloData

Analysis of Fintech adoption in West Africa (2000–2024) for the ADABI Challenge. # adabi-fintech-analysis-alloData Analysis of Fintech adoption in West Africa (2000–2024) for the ADABI Challenge. ## Project Goal Analyze the evolution and adoption of Fintechs in **West Africa** between **2000 and 2024** using a dataset of 10,000 rows to understand financial inclusion and mobile banking dynamics. ## Key findings - **Internet Access**: 57.54% - **Bank Account Ownership**: 50.03% - **Fintech Adoption**: 42.22% - **Fintech/Banking Ratio**: 0.84 - **Fintech/Internet Ratio**: 0.73 - **Total Users (2000–2024)**: 2.5 billion ## Most common transactions | Transaction Type | % of Users / Transaction Value | |---------------------|---------------------------------| | Money Transfers | 33.69% of total transaction value | | Cryptocurrencies | 25.73% of users and 25.76% of transaction value | | Loans | 25.32% of users | | Savings | 24.88% of transactions | ## Trends by country - **High Fintech Adoption**: Ghana, Togo, Niger, Gambia (~43%) - **High Banking but Low Fintech Adoption**: Côte d'Ivoire, Burkina Faso ## Demographic groups - **26-35 years old**: Most active adopters - **18-25 years old**: Limited by high costs - **60+ years old**: Limited by lack of training ## Adoption trends over time - Peak adoption in 2020 (likely due to COVID-19 pandemic) - Second peak in 2022, followed by a decline suggesting challenges for sustainable adoption ## Adoption barriers - Distrust in digital platforms - High costs, especially for young adults - Lack of training for seniors - Limited internet access in some regions ## Recommendations to accelerate adoption - Improve internet access, especially in rural areas - Increase training and awareness programs - Reduce access costs, particularly for young adults - Integrate Fintechs with traditional banks - Simplify user experience for seniors ## 1) Dashboard Summary ## 2) Recommendations