Strategic Product Management as a Driver of Socioeconomic Development: Evidence from Fintech and CivicTech Ecosystems

References

[1] Adenuga, T., Ayobami, A. T., Mike-Olisa, U., & Okolo, F. C. (2024). Driving smarter development: Data-driven infrastructure planning and investment in emerging and developed economies. International Journal of Scientific Research in Science, Engineering and Technology, 11(4), 320-355.

[2] Agbeyangi, A., Makinde, A., & Odun-Ayo, I. (2024). Nigeria's ICT and Economic Sustainability in the Digital Age. arXiv preprint arXiv:2401.03996.

[3] Bharosa, N. (2022). The rise of GovTech: Trojan horse or blessing in disguise? A research agenda. Government Information Quarterly, 39(3), 101692.

[4] Cheshmehzangi, A. (2025). Bridging Innovation and Sustainability: Global Insights on ICT Applications. In Urban Innovation and Sustainability: ICT-based Interventions in Hainan, China (pp. 23-43). Singapore: Springer Nature Singapore.

[5] Fernandes, E. D. S., Grochau, I. H., & Ten Caten, C. S. (2023). Impact investing: determinants of external financing of social enterprises in Brazil. Sustainability, 15(15), 11935.

[6] Ferri, L., Spagnuolo, F., Troise, C., & Zampella, A. (2025). Strategic innovation: exploring governance drivers of FinTech investments. Journal of Strategy and Management.

[7] Gancarczyk, M., Łasak, P., & Gancarczyk, J. (2022). The fintech transformation of banking: Governance dynamics and socio-economic outcomes in spatial contexts. Entrepreneurial Business and Economics Review, 10(3), 143-165.

[8] Jacob, A. O., & Umohb, O. J. DRIVING ECONOMIC GROWTH: FINANCIAL INNOVATIONS IN NIGERIA'S MULTIFACETED EMERGING MARKETS.

[9] Karuri-Sebina, G., & Maciko, L. (2025). The Role of GovTech Incubators in Augmenting Public Sector Capabilities. In Digitalisation and Public Policy in Africa: GovTech and CivicTech Innovations (pp. 61-92). Cham: Springer Nature Switzerland.

[10] Kraus, K., Kraus, N., & Shtepa, O. (2021). Digital infrastructure. Digital business ecosystems.

[11] Kuuyelleh, E. N., Akanpaadgi, E., & Korley, B. (2025). Digital Governance in Ghana: Exploring the Prospects and Constraints. In Digitalisation and Public Policy in Africa: GovTech and CivicTech Innovations (pp. 225-250). Cham: Springer Nature Switzerland.

[12] Nikiforova, A., Flores, M. A. A., & Lytras, M. D. (2023). The role of open data in transforming the society to society 5.0: A resource or a tool for SDG-compliant smart living?. In Smart cities and digital transformation: Empowering communities, limitless innovation, sustainable development and the next generation (pp. 219-252). Emerald Publishing Limited.

[13] Onyango, G. (2023). Crafting Policy Technologies (PolicyTechs): An introduction to policy digitalisation pathways in Africa. In Public policy and technological transformations in Africa: Nurturing policy entrepreneurship, policy tools and citizen participation (pp. 1-26). Cham: Springer International Publishing.

[14] Prachumrasee, K., Kamnuansilpa, P., & Setthasuravich, P. (2025). Digital Public Service Ecosystems in Local Governance: Insights from Northeastern Thailand's Local Administrative Organizations. FWU Journal of Social Sciences, 19(2).

[15] Sitas, R., Cirolia, L. R., Pollio, A., Sebarenzi, A. G., Guma, P. K., & Rajashekar, A. (2023). Platform politics and silicon Savannahs: Fintech and the platformed motorcycle: speculating on ordinary mobility economies in urban Africa (Issue June). DIO, 10.

[16] Umar, M. O., Oladimeji, O., Ajayi, J. O., Akindemowo, A. O., Eboseremen, B. O., Obuse, E., ... & Erigha, E. D. (2021). Building Technical Communities in Low-Infrastructure Environments: Strategies, Challenges, and Success Metrics.

[17] Xie, C., & Huang, L. (2024). How to drive sustainable economic development: The role of fintech, natural resources, and social vulnerability. Resources Policy, 94, 105104.

@article{1713135,
      author = {Temitope Hundeyin},
      title = {Strategic Product Management as a Driver of Socioeconomic Development: Evidence from Fintech and CivicTech Ecosystems},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {9},
      number = {6},
      pages = {2341-2351},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1713135.pdf},
      abstract = {This paper examines the influence of strategic product management (SPM) on socioeconomic development within Nigeria's expanding fintech and CivicTech sectors. Research on digital innovation in emerging economies frequently focusses on finance, infrastructure, and regulation; however, there has been significantly less emphasis on the managerial practices that influence product design and delivery. The research utilises a mixed methodology that integrates secondary case analysis with surveys and interviews. Paystack, Flutterwave, BudgIT, and Tracka were chosen as case studies from Nigeria. Forty-two people took part in the survey, including product managers, company founders, regulators, and civic activists. There were also 14 in-depth interviews that went along with these. The study used descriptive statistics, factor analysis, and thematic coding to look at the data. These methods worked together to show how product management, ecosystem dynamics, and developmental outcomes are all connected. The results show that SPM is more than just an internal business function; it is a strategic capability that affects the growth of the organisation and the value of society as a whole. Paystack's onboarding systems have helped small businesses join the formal economy in fintech, and Flutterwave's multi-currency tools have helped trade across borders. On the other hand, CivicTech actors turned product strategies into governance gains. For example, BudgIt, is Tracka platform tracked more than 16,000 government projects, which made it possible for more fiscal transparency and civic oversight. A common theme across cases was the necessity for regulatory flexibility, underscoring the difficulties of manoeuvring through Nigeria's volatile institutional landscape. These insights enhance theoretical frameworks by expanding the resource-based view of the firm to illustrate how product management can yield social and developmental advantages. The study suggests that practice should focus on making internal product management teams stronger, improving regulatory sandboxes, putting money into digital infrastructure, and adding systems for measuring impact. The findings highlight the significance of SPM in connecting financial innovation with civic accountability and sustainable development for policymakers and funders.},
      keywords = {Strategic Product Management; Fintech; CivicTech; Nigeria; Socioeconomic Development; Innovation},
      month = {December},
  }