Social Protection Provisioning in Zimbabwe: Is Fintech the Real Deal?
DOI:
https://doi.org/10.51137/wrp.ijarbm.798Keywords:
Fintech, Social Protection, Convenience, Distribution Efficiency, Logistical Cost, Cost ManagementAbstract
This article critically examines the integration of financial technology (Fintech) within social protection frameworks in Zimbabwe, addressing the significant systemic challenges that plague traditional distribution methods. The analysis reveals that developing nations, particularly Zimbabwe, face substantial barriers, including inadequate targeting mechanisms, limited accessibility, information deficits, escalating program costs, and pervasive corruption and fund misappropriation. These challenges exacerbate poverty and underline the urgent necessity for enhanced social protection measures. Through, a mixed-methods research design, data were collected from implementing staff across various humanitarian agencies using a structured questionnaire. The quantitative analysis employed SPSS, leading to the identification of critical constructs, including convenience, security, and cost management, that underpin Fintech’s potential to revolutionise social protection delivery. The findings indicate robust support for Fintech adoption among practitioners in the field, highlighting its capacity to optimise distribution efficiency and decrease logistical costs while simultaneously bolstering security for beneficiaries and administrators alike. Enhanced tracking, reporting, and accountability of funds were noted as key advantages of Fintech implementation. In conclusion, the study posits that Fintech presents a viable strategy to enhance social protection systems in Zimbabwe, offering an efficient, secure, and cost-effective distribution mechanism. This research provides significant empirical insights from a developing-country context and advocates further investigation into blockchain technology and climate-centric Fintech applications. The integration of Fintech into social services signifies a transformative shift in social protection delivery, effectively supporting vulnerable populations.
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