UTILISING DIGITAL INNOVATION FOR SUSTAINABLE DEVELOPMENT – THE CASE OF MOBILE MONEY IN SIERRA LEONE

According to the United Nations Conference on Trade and Development (UNCTD, 2017). achieving the ambitious 2030 Agenda for Sustainable Development Goals (SDGs), (UN,) 2015 requires new innovation approaches that are socially inclusive and environmentally benign. In line with this agenda, mobile payments technology is becoming increasingly significant, especially in the context of developing economies, where many low-income households and micro-enterprises do not have ready access to financial services. Mobile money and digital wallets therefore, offer an innovative technological solution to fill the financial infrastructure gap and alleviate frictions related to the limited use of formal financial services. The objective of this study is to investigate how the utilisation of digital innovation leads to sustainable development with mobile money in Sierra Leone. This study used a quantitative and qualitative descriptive approach and targeted a population of mobile money users. Data was collected through self-administered questionnaire and interview from a sample size of about ninety-five (95) participants selected from the target population. The data collected was analysed using Statistical Package for Social Sciences (SPSS) version 25. The findings revealed that the usage of mobile money is not new in Sierra Leone as people have knowledge on the usage of mobile money; and the motivation for using mobile money is for its easy accessibility and convenience. Also revealed is that mobile money can play a key role in reducing the cost of remittances and the achievement of SDG 9; and that by enabling faster, cheaper and safer financial transactions, mobile money can help to achieve other SDGs. The study recommends that mobile service providers in the country need to continuously embark on sensitizations and promotions for the population to subscribe to mobile money for its benefits especially its convenience and improve its network infrastructure.