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From Financial Inclusion to Investment Participation: Does Mobile Money Bridge the Capital Market Access Gap in Nigeria and Kenya?

While mobile money has brought about profound changes in the realm of financial inclusion in Sub-Saharan Africa, its contribution to capital market participation is rather insignificant. The present paper explores the capacity of mobile money in narrowing the investment gap by promoting access to formal investment tools, using a comparative case approach in comparing the situation in Nigeria and Kenya. Using secondary information obtained from global financial organizations, academic literature, and official sources, the research utilizes an approach based on descriptive comparison and themati…

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