Challenging the bottom-of-the-pyramid narrative in Africa: a cross-cultural management perspective on the impact of mobile money

The “bottom-of-the-pyramid” (BoP) narrative underpins the introduction of fintech initiatives such as mobile money into Africa’s largely informal economies by multinational enterprises (MNEs) often endorsed by the international development community. This is claimed to enhance financial inclusion and enterprise development among poorer communities. By examining the cultural meaning of money and the impact of mobile money on traditional community initiatives like Rotating Savings and Credit Associations (ROSCAs), this work sets out to show how accepted truths may be challenged in power-laden international interactions. Four objectives guide our multidimensional approach: methodological (exposing hidden narratives in international business), epistemological (questioning prevailing knowledge of “Africa”), strategic (critiquing MNE-led technology transfers), and inclusive (advocating for marginalized perspectives in policy and research). It calls for more inclusive cross-cultural research in Africa that incorporates perspectives from less powerful groups excluded by dominant narratives such as BoP. Rather than seeing African countries as lacking and seeing mobile money as a means of plugging “institutional voids” such as access to formal institutional finance, we ask researchers to take account of existing community-led institutions in constructing alternative narratives to inform their research, business school curricula, MNEs’ strategies and international development policies.

© 2025 The Author(s). Co-published by NISC Pty (Ltd) and Informa UK Limited, trading as Taylor & Francis Group
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