Digital Finance Inclusion in Central African Economic and Monetary Community and Adoption of Corporate Social Responsibility

Abstract

ABSTRACT This article examines the impact of digital financial inclusion on the adoption of corporate social responsibility (CSR) practices in the Central African Economic and Monetary Community region. Drawing on a multidimensional theoretical framework that integrates financial inclusion theory, stakeholder theory, and the institutional approach, the study shows that digitalization enhances transparency, traceability, and corporate governance, thereby promoting the integration of social, environmental, and ethical principles. The empirical analysis, conducted on a panel of 35 sub‐Saharan African countries from 2000 to 2023, employs OLS and Driscoll–Kraay estimations to ensure the robustness of the findings. The results reveal a positive and significant effect of digital finance on CSR, strengthened by the quality of governance. The study recommends reinforcing digital infrastructure, promoting financial education, improving the institutional framework, and fostering public–private partnerships to support responsible and sustainable business practices.