Abstract
Poverty remains a critical challenge in sub-Saharan Africa that continually
demands innovative solutions. This paper examined the impact of financial
and digital inclusion on the poverty rate in sub-Saharan Africa, covering data
from the year 2000 to 2023. It combined financial inclusion variables
(automated teller machine availability and mobile money) with digital-based
inclusion variables (mobile subscription and internet accessibility) to assess
their moderating impact on poverty rate. The Systems Generalised Method of
Moments models were employed for analysis. Key findings from the study
show that neither automated teller machine availability nor mobile money
usage significantly reduce poverty rates. However, mobile subscriptions
alone show a negative impact on poverty in all examinations. The findings
also demonstrate that digital inclusion (via the internet and mobile access)
does not moderate the relationship between financial inclusion and poverty
alleviation. Policy makers, management, and stakeholders (that make key
decisions) could consider investing in increasing mobile subscription
(especially smart devices), as evidence shows that it is relevant in the
increasingly digitalised society and it has contributed to reducing the rate of
poverty.