Introduction

In Chad, as in several African countries, mobile money is experiencing significant growth. This system, which allows financial transactions to be carried out via mobile phone, is a valuable alternative to traditional banking services, especially in a country where access to bank branches is limited, particularly in rural areas. However, the adoption of these digital services is not automatic. Financial education plays a key role in the understanding and use of these financial technologies, thus influencing their success.

Financial Education as a Catalyst for Adoption

Financial education refers to knowledge and understanding of the principles of money management, financial products and banking services. For Chadians, this includes familiarity with mobile money and the various services it offers, such as payments, money transfers and savings. According to a World Bank study, a higher level of financial education leads to more informed decision-making regarding the use of mobile financial services, which is crucial for their adoption. In Chad, the potential adoption of mobile money is often hampered by a lack of understanding of financial mechanisms. A study conducted by Pratono indicates that in regions where the population is well informed, the adoption of mobile financial services is higher. This education allows for a better understanding of fees, transaction security and the optimal use of these services, which makes Chadians more inclined to adopt them.

Overcoming Psychological and Cultural Barriers

Financial education also helps to remove psychological and cultural barriers that can hinder the adoption of mobile money in Chad. In some communities, reluctance related to security, risk management and the novelty of technologies can limit the use of mobile money. For example, a study by Mbiti and Weil shows that in regions where the population is more financially literate, users are less sceptical about mobile financial services. Financial education programs, focusing on money management and the security of digital transactions, play a key role in building Chadians’ trust in the system. According to Karlan, the introduction of such programs in rural areas has significantly increased the adoption of mobile money in sub-Saharan Africa, and similar results could be observed in Chad.

Conclusion

In Chad, the emergence of mobile money offers enormous potential to facilitate access to financial services, but its adoption remains dependent on users’ understanding. Financial education is essential to help Chadians understand the benefits of these technologies and use them securely and optimally. To ensure the success of mobile money, it is crucial to develop large-scale financial education initiatives, particularly in rural areas, where access to banking services remains limited. This would not only promote financial inclusion, but also more responsible management of Chadians’ economic resources.