Corrigendum: Fintech, financial inclusion, and sustainable development in the African region

Résumé

Wealth analysis, as anticipated by economic theory, is crucial for comprehending the concept of sustainability. Shifts in genuine wealth per capita profoundly impact well-being prospects and future opportunities (1)(2)(3). While wealth encompasses production capital, human, and institutional capital, it also incorporates natural assets like land, forests, and underground resources, providing a comprehensive measure of sustainability. Countries such as Botswana showcase impressive growth rates by leveraging their natural resources (4)(5)(6)(7)(8)(9). The three types of capital -product, human, and natural -are essential components for sustaining economic growth. Sustainability is vital for preserving resources, ensuring their continued availability for present and future generations (3,10,11). Accordingly, an important element in this analysis is a measure of Adjusted Net Saving as percentage of Gross National Income (ANS_GNI) or genuine saving (3,10,(12)(13)(14)(15).Genuine savings offer national-level decision-makers a clear and relatively simple indicator to assess sustainability and address resource and environmental challenges, aligning with financial and developmental planning institutions [ (4,(16)(17)(18)]. It highlights the importance of promoting national savings and implementing comprehensive and sound economic policies (9,19). Linking sustainable development to genuine savings rates implies a range of possible interventions to increase sustainability, spanning from macroeconomic to purely environmental considerations. Thus, genuine savings, rather than GDP growth, allow long-run economic sustainability (20,21). Thus, sustainability has gained increasing significance over time due to the depletion of natural resources and the impacts of climate change caused by unsustainable economic activity (22). It has evolved into a broad and continually evolving paradigm (23). Distinguishing between weak and strong sustainability is essential (24,25). Genuine savings are often labeled as an indicator of 'weak sustainability' because they rely on the unrealistic assumption that natural capital can be entirely substituted by produced and human capital. However, the use of genuine savings as an indicator of weak sustainability remains in line with the United Nations (UN) definition of sustainable development (20,26).Financial inclusion plays a crucial role as a facilitator in achieving the eighth (8th) UN Sustainable Development Goal (UN-SDG), which focuses on providing access to formal financial services for the unbanked population. Recent innovations in this field have garnered attention due to their potential to drive socioeconomic development, reduce poverty, and foster economic stability (27)(28)(29)(30)(31)(32). Particularly during the COVID-19 pandemic, promoting financial inclusion through digital financial services becomes even more vital as it can contribute to the achievement of universal health and well-being (SDG 3) (33,34). Contemporary researchers assert that beyond fostering technological progress and sustainable economic growth, financial inclusion equally impacts the environment, notably in terms of carbon emissions. The transition to carbon neutrality and environmental sustainability is impossible without improving financial services, resources, and markets [ (35,36)]. In summary, the findings underscore the potential of financial inclusion as a valuable tool in advancing sustainable practices and contributing to global initiatives aimed at combating climate change (37).Financial Technology (FinTech) is a driving force in the technological revolution, holding potential for inclusive finance, economic development, and reduced inequality. It refers to innovative financial solutions through technology (that creates new business models, processes, or products), addressing challenges like high transaction costs and limited banking access. FinTech, fostering financial inclusion, is reshaping the financial landscape, and contributing to sustainable economic progress (22,(38)(39). Moreover, FinTech holds promise as an enabler for addressing climate change by promoting financial inclusion and reducing energy consumption [ (40) as cited by (41,42)]. Significantly, the technology spillover effect of FinTech plays a pivotal role in fostering the growth of green finance (43,44). In brief, FinTech has revolutionized financial services and pricing models, promoting sustainable and green productivity. It embraces eco-friendly practices and actively contributes to the achievement of sustainable development goals (45)(46)(47)(48)(49).Numerous studies by (50-52), emphasize that FinTech plays a pivotal role in driving financial inclusion, a key component for achieving sustainable and balanced development in line with the UN-SDGs. However, to fully harness the potential of FinTech in supporting the SDGs, it is crucial to adopt a gradual and forwardlooking approach that focuses on building the necessary infrastructure for digital financial transformation. It is important to recognize that FinTech and financial inclusion are not standalone objectives in themselves but rather means to create a sustainable future that can be sustained over time. By establishing robust digital frameworks and promoting inclusive financial systems, we can ensure long-term societal and economic benefits.This paper examines the variables that explain different outcomes in terms of sustainable development, measured by Gross Saving as percentage of GNI (GS_GNI) and ANS. This indicator, grounded in the theoretical frameworks of green accounting and social welfare literature, is perceived and justified as a valuable contribution to enhancing national accounting. By incorporating environmental and social considerations, this novel measure aims to extend beyond economic The to on the impact of financial inclusion and FinTech on economic growth and important for economic development, not sustainability In line with the weak sustainability literature, in [ this paper GNI and to assess the between financial inclusion, FinTech, and sustainable development in the of the between sustainability, FinTech, and financial inclusion has notably in with often as of the in and from in the of attention is the of and of sustainable development have The genuine saving indicator, to human and environmental into national is by and key and on the assumption of weak sustainability, it from the on and in environmental the of focuses on the of natural resources, environmental and human capital, the of global This approach also the of sustainability beyond a to sustained production and consumption focuses on the of three financial inclusion, FinTech, and sustainable 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