scholarly journals A study of the factors affecting mobile money penetration rates in the West African Economic and Monetary Union (WAEMU) compared with East Africa

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Sionfou Seydou Coulibaly
Keyword(s):  
East Africa ◽  
Financial Services ◽  
West African ◽  
Social Categories ◽  
Factors Affecting ◽  
Mobile Money ◽  
Level Data ◽  
Mobile Financial Services ◽  
Working Age ◽  
Micro Level

AbstractAccording to the 2017 Global Financial Inclusion (Global Findex) database, the average penetration rate of mobile money accounts in East Africa is higher than that of the WAEMU. This study attempts to understand the factors driving the adoption and the use of mobile financial services in the WAEMU compared to East Africa. To achieve this, micro-level data from the 2017 Global Findex database are used to perform probit and multinomial logit estimations. The findings reveal that the same determinants influence the adoption and use of mobile money accounts across the populations of both groups of countries, specifically those related to the least vulnerable social categories (i.e., males, older, more educated, richer and part of the workforce). Therefore, in comparison to East Africa, the delay in the penetration of mobile money accounts observed in the WAEMU may be attributed to insufficient policies for increasing the awareness of the benefits of mobile financial services. The study recommends that governments in WAEMU countries promote the use of mobile money accounts among the working-age population (adults aged between 25 and 64) through the improvement of individual income level, and the introduction of incentives into the education system to encourage their population to attain higher levels of education.

Predicting the Attitude toward Mobile Financial Services in Developing Countries

2012 ◽  
pp. 1141-1160
Author(s):  
Prateek Shrivastava
Keyword(s):  
Quality Of Life ◽  
Low Income ◽  
Financial Services ◽  
Group Analysis ◽  
Perceived Usefulness ◽  
Control Group ◽  
Mobile Banking ◽  
Mobile Financial Services ◽  
Working Age

Globally, only about a sixth of the 3 billion poor people of working age currently have access to formal financial services. This translates to 17% coverage of the market, leaving 83% under-served or “unbanked”. Addressing the needs of these people is the “self-sustaining approach” to microfinance. Mobile banking is one of the newest approaches to the provision of financial services made possible by the widespread adoption of mobile phones in low income countries. However, reports show that potential users may not be using these systems despite already being available. This study was conducted in 2008. It extends the Luarn & Lin mobile banking adoption model by adding two additional constructs: “Enhancement of image” and the “enhancement of quality of life by having access to financial service” to test the attitude toward mobile banking. In order to test these constructs, 11 hypotheses are proposed. The chapter successfully applies Luarn & Lin’s model in a new geographic and economic context. Consistent with their study, perceived usefulness, perceived credibility, perceived ease of use and perceived self-efficacy were found to be significant antecedents. Perceived financial costs, however, was found to have a positive relationship with attitude. This finding is diametrically opposite to Luarn & Lin’s study. Perceived enhancement to quality of life showed a strong relationship and Perceived enhanced image showed a weak relationship with the attitude toward mobile banking. The control group analysis showed the previously unbanked group (Mzansi) had the highest expectation of mobile banking and also found the idea most attractive. This study therefore concludes that mobile banking can indeed be a channel to reach out to low income groups.

Emergence of Mobile Financial Services in Ghana: Concerns for Use among Informal Sector Women Entrepreneurs

2018 ◽  
Vol 17 (3_suppl) ◽  
pp. S415-S432 ◽  
Author(s):  
Raymond K. Dziwornu ◽  
Kingsley K. Anagba ◽  
Ampem D. Aniapam
Keyword(s):  
Informal Sector ◽  
Emerging Economies ◽  
Financial Services ◽  
Women Entrepreneurs ◽  
Multinomial Logit Model ◽  
Jel Classification ◽  
Factors Affecting ◽  
Television Advertisement ◽  
Mobile Financial Services ◽  
Indispensable Tool

Mobile financial services (MFS) have emerged in recent years as an indispensable tool to promote financial inclusion in emerging economies like Ghana. This article investigated the factors affecting MFS use among 300 women entrepreneurs in the informal sector in Ghana, using multinomial logit model. Knowledge of MFS, trust of services provided, nearness to agents and privacy of information are more likely to drive MFS use. In addition to embarking on aggressive radio and television advertisement, service operators should deploy more agents and invest in reliable infrastructure to build users’ trust to increase MFS use. JEL Classification: D12, G20

A skills perspective on the adoption and use of mobile money services in Uganda

2018 ◽  
Vol 35 (5) ◽  
pp. 724-738 ◽  
Author(s):  
Rebecca I Kiconco ◽  
Gerrit Rooks ◽  
Giacomo Solano ◽  
Uwe Matzat
Keyword(s):  
Mobile Phone ◽  
Financial Services ◽  
Adult Population ◽  
The Other ◽  
Sub Saharan Africa ◽  
Cognitive Resources ◽  
Mobile Money ◽  
Mobile Financial Services ◽  
Sub Saharan ◽  
English Literacy

Adoption rates of mobile financial services within sub-Saharan Africa still appear to be below par. The 2016 Groupe Spéciale Mobile Association report shows that over 60 per cent of the adult population in sub- Saharan Africa do not use mobile financial services. We investigate how cognitive resources, namely, mobile phone skills and English literacy, influence the use of mobile financial services. We test our hypotheses using a sample of 208 individuals from an urban location in Central Uganda. We measure actual mobile phone skill using a newly developed scale. The results show that a marginal increase in mobile phone skills has a strong effect on the odds of adopting mobile money, but a less strong effect on the extent to which the functionalities of the mobile money application are used. On the other hand, English literacy has no influence on both adoption and the magnitude of services individuals use.

Predicting the Attitude toward Mobile Financial Services in Developing Countries

2010 ◽  
pp. 112-131 ◽  
Author(s):  
Prateek Shrivastava
Keyword(s):  
Quality Of Life ◽  
Low Income ◽  
Financial Services ◽  
Group Analysis ◽  
Perceived Usefulness ◽  
Control Group ◽  
Mobile Banking ◽  
Mobile Financial Services ◽  
Working Age

Globally, only about a sixth of the 3 billion poor people of working age currently have access to formal financial services. This translates to 17% coverage of the market, leaving 83% under-served or “unbanked”. Addressing the needs of these people is the “self-sustaining approach” to microfinance. Mobile banking is one of the newest approaches to the provision of financial services made possible by the widespread adoption of mobile phones in low income countries. However, reports show that potential users may not be using these systems despite already being available. This study was conducted in 2008. It extends the Luarn & Lin mobile banking adoption model by adding two additional constructs: “Enhancement of image” and the “enhancement of quality of life by having access to financial service” to test the attitude toward mobile banking. In order to test these constructs, 11 hypotheses are proposed. The chapter successfully applies Luarn & Lin’s model in a new geographic and economic context. Consistent with their study, perceived usefulness, perceived credibility, perceived ease of use and perceived self-efficacy were found to be significant antecedents. Perceived financial costs, however, was found to have a positive relationship with attitude. This finding is diametrically opposite to Luarn & Lin’s study. Perceived enhancement to quality of life showed a strong relationship and Perceived enhanced image showed a weak relationship with the attitude toward mobile banking. The control group analysis showed the previously unbanked group (Mzansi) had the highest expectation of mobile banking and also found the idea most attractive. This study therefore concludes that mobile banking can indeed be a channel to reach out to low income groups.

scholarly journals Socioeconomic and Demographic Factors Affecting Labor Force Participation in Pakistan

2016 ◽  
Vol 9 (4) ◽  
pp. 70 ◽  
Author(s):  
Mumtaz Hussain ◽  
Sofia Sofia Anwar ◽  
Shaoan Huang
Keyword(s):  
Labor Market ◽  
Labor Force ◽  
Human Resource Development ◽  
Labor Force Participation ◽  
Demographic Factors ◽  
Factors Affecting ◽  
Level Of Education ◽  
Level Data ◽  
Micro Level ◽  
Socioeconomic And Demographic Factors

Labor Force Participation is the indication of relative supply of labor in the labor market and it is also very useful for the formulation of employment and human resource development. The main purpose of present study is to explore the demographic factors that directly or indirectly influence the labor force participation. The study is based on Micro-level data on different socioeconomic and demographic factors that have a deep effect on the labor force participation in Pakistan. The collected set of information of about 1,43,587 frequencies of 36,400 households was used in this study from the Labor Force Survey of Pakistan 2008-09. The research concluded that the level of education, training, age, location, residential period and being male has positive and significant impact on labor force participation.

Build it – Will They Come?

2010 ◽  
Vol 8 (3) ◽  
pp. 1-14 ◽  
Author(s):  
Prateek Shrivastava
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Low Cost ◽  
Financial Resources ◽  
Control Group ◽  
Mobile Banking ◽  
Extended Access ◽  
Mobile Financial Services ◽  
Working Age ◽  
Money Transfers

Globally, only a sixth of the approximately 3 billion impoverished people of working age currently have access to formal financial services, which translates to 17% coverage of the market, leaving 83% under-served. The growth of mobile telephony has been rapid and has extended access well beyond already connected customers in developing countries. This rapid growth offers a new low-cost alternative for financial institutions to make a profit while dealing with small money transfers and payments. Consumers also benefit because they no longer need time and financial resources to travel to distant banks. The successful deployment of financial services via mobile phones has shown willingness from financial service providers to develop and provide such products. However, there are major perceived and real obstacles in the willingness of consumers to adopt these products. Therefore, a need exists to understand customers’ reasons behind adopting these services. In this paper, the author proposes a model that provides a framework to empirically test the attitudes of customers toward mobile financial services via a control group conducted in 2008 using Luarn and Lin’s (2005) mobile banking adoption model.

Mobile Money Landscape in the 12 SADC Countries using FinScope Survey Data

GIS Business ◽  
2017 ◽  
Vol 12 (3) ◽  
pp. 25-32
Author(s):  
Kingstone Mutsonziwa
Keyword(s):  
Mobile Applications ◽  
Financial Services ◽  
Financial Inclusion ◽  
Poor People ◽  
Main Stream ◽  
Mobile Money ◽  
The World Bank ◽  
Mobile Financial Services ◽  
Money Transfer ◽  
Game Changer

There is no doubt that mobile money is bringing the under-served and the excluded population into the main stream financial services corridors. Based on the FinScope surveys, mobile money is becoming one of the enablers of financial inclusion. In an increasing number of developing countries, a number of poor people are using basic mobile phones to transfer money, paying for goods and accessing some basic financial services. According to the World Bank, mobile financial services are amongst the most promising mobile applications in the developing world. Although FinScope results show that mobile money usage is relatively low (23%) in the SADC region, the trend of usage is coming up fast. FinScope results show that close to 7 in 10 mobile money users are using it as a remittances/money transfer vehicle while 54% for buying airtime. It is encouraging that about 7 million adults (24% of mobile money) store value or save money in their mobile money accounts. Some barriers to mobile money relate to: affordability, perceived cost of mobile money, lack of understanding of mobile money/lack of awareness and no access to cell phones. Besides these barriers, mobile money is becoming a game changer for the landscape of financial inclusion in the SADC region.

Analysis of Mobile Financial Services Utilization among Small Scale Businesses in Kiambu County, Kenya

2020 ◽  
Vol 8 (11) ◽  
pp. 248-257
Author(s):  
PEREZ ONONO ◽  
Kenneth Kamau Karanja
Keyword(s):  
Financial Services ◽  
Descriptive Analysis ◽  
Mobile Network ◽  
Primary Data ◽  
Small Scale ◽  
Mobile Money ◽  
Goods And Services ◽  
Customer Care ◽  
Mobile Financial Services ◽  
Cyber Crimes

This study examined the level of utilization of Mobile financial services among small scale businesses in Kiambu County. Primary data was obtained through interview administered questionnaire from 123 small scale businesses in Kiambu County. Using descriptive analysis the study found out that 48.8 percent of the businesses utilized mobile financial services. The mobile financial services utilized by the businesses included mobile money in phone, Pay bill Buy goods and services and mobile money bank accounts. Majority of the businesses used mobile money in phone. Businesses cited lack of mobile financial services devices by businesses, lack of mobile financial services incentives such as loyalty points, mobile money transaction charges, poor interoperability between networks, low acquaintance to mobile financial services transactions, service system breakdown, difficulties while accessing customer care services as major challenges in use of mobile financial services. The study concludes that mobile financial services are compliments other financial services in extending financial services to the unbanked sector in the county and recommends that systems development and improvement of service delivery by mobile network operators towards small scale businesses and enhanced legislations on data protection and cyber-crimes to protect users of mobile financial services towards increased use of the services.

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