01 October 2026
Access to international markets is a key to business growth, but the necessary operational and institutional conditions are not always in place. In many sub-Saharan African countries, companies struggle to access financial services, make payments, and navigate fragmented regulatory systems. In this context, digital infrastructure can play an important role in supporting entrepreneurship and facilitating access to new markets.
Stefano Elia, Associate Professor at the POLIMI School of Management, and Filip De Beule from KU Leuven conducted a study analyzing data from businesses operating in sixteen sub-Saharan African countries. The study aims to determine whether and under what conditions the adoption of mobile money can help businesses to overcome the limitations of traditional financial and regulatory systems and strengthen their ability to operate beyond national borders.
The research shows that mobile money can offer businesses an alternative to traditional financial services, facilitating payments, commercial relationships, and access to foreign markets. However, the positive impact on exports tends to weaken as institutional barriers increase. Digital infrastructure can create new opportunities for international expansion, but its potential depends on the presence of strong and effective institutions.
Digital financial solutions can support businesses in their international expansion in the short run, provided they are accompanied by long-run policies that strengthen the regulatory framework, improve access to credit, and enhance institutional reliability.
The award received in Nairobi recognizes POLIMI School of Management‘s contribution to international research on digital innovation, internationalisation and development. It provides new insights into a geographical area that remains largely unexplored in international business literature.
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