| variables | Fixed effects |
| log Commercial opening | |
| (Coefficients) Std_Err (p > [t]) | |
| Ln automated mobile money operators | (−0.0062877)* |
| 0.0159699 | |
| (0.694) | |
| Ln Exchange rate terms | (0.0017781)* |
| 0.0028428 | |
| (0.533) | |
| Ln Foreign Direct Investment | (0.0251363)** |
| 0.0197683 | |
| (0.205) | |
| Ln Gross Domestic Product | (−0.2371655) |
| 0.1252073 | |
| (0.060)*** | |
| Ln Inflation | (0.0270906)** |
| 0.020393 | |
| (0.186) | |
| Cons_ | (5.168734) |
| 0.9851962 | |
| (0.0000)* | |
| Nbr Obs | 192 |
| F-Stat | 20.30 |
| Prob F-Stat | 0.0000 |
| R-Sq Whithin | 0.0527 |