scholarly journals Mobile money operations, financial inclusion and Socioeconomic factors in the Niger-Delta Region of Nigeria

2021 ◽  
Vol 10 (5) ◽  
pp. 224-234
Author(s):  
Nenubari John Ikue ◽  
John Sodipo ◽  
Samuel Zeb-Omoni ◽  
Onyinyechi Uche ◽  
Linus Enegesi ◽  
...  
Keyword(s):  
Citizen Participation ◽  
Low Income ◽  
Rural Areas ◽  
Niger Delta ◽  
Financial System ◽  
Financial Inclusion ◽  
Financial Instruments ◽  
Delta Region ◽  
Mobile Money ◽  
Niger Delta Region

The improvement in the standard of living of citizenry is beyond lack of money but the poverty to access financial instruments and means to financial platforms. Such that lack of access to financial instruments and services is a major veritable channel for poverty amplification in the society. This paper examines the relationship between Mobile Money Operations (MMOs) and Financial Inclusion in the Niger Delta region of Nigeria. The paper also analysis the trends of the instruments of financial inclusion and MMOs in Nigeria from 2012 to 2019. The primary and secondary were data sourced and analyzed with the Net Balance Methods, Instruments of inferential and descriptive statistics. The survey results show a visual cycle of higher number of respondents with secondary school qualifications and less which have led to low income and an ineffective participation to mobile money and financial inclusions in the rural areas. We equally observed that poor internet and mobile networks, epileptic power supply, unclear economic policies among others are major setback for the insignificant relationship between MMOs and financial inclusion in the Niger Delta region. This implies that the growth of mobile banking and financial inclusions to facilitate financial system soundness and enhances economic growth and development required more motivations from institutions other than the financial institutions; as a ways of encouraging increased Nigerians participation. Base on the result the paper can assumes that the financial system has provided the needed instrument for citizen participation but the social and economic conditions of the country is the bottleneck for financial inclusions.

scholarly journals The Nexus between Mobile Money Regulation, Innovative Technology and the Promotion of Financial Inclusion in Zimbabwe

2021 ◽  
Vol 24 ◽  
pp. 1-33
Author(s):  
Howard Chitimira ◽  
Elfas Torerai
Keyword(s):  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Banking Sector ◽  
Regulatory Framework ◽  
Financial Inclusion ◽  
Innovative Technology ◽  
Technological Innovations ◽  
Mobile Money ◽  
The Poor

The advent of mobile money innovations has given people in rural areas, informal settlements and other poor communities an opportunity to participate in Zimbabwe's mainstream financial economy. However, the technology-driven money services have presented some challenges to the traditional banking sector in general and the regulation of financial services in particular. Firstly, most mobile money services are products of telecommunication corporations, which are not banks. Telecommunication companies use their network reach to provide mobile money services via mobile devices at a cheaper cost than banks across the country in Zimbabwe. As such, banks face unprecedented competition from telecommunications companies that are venturing into financial services. It also appears that prudential regulation of banks cannot keep up with the fast pace at which technological innovations are developing and this has created a disjuncture between the regulation and the use of technological innovations to promote financial inclusion in Zimbabwe. The Banking Act [Chapter 24:20] 9 of 1999, the Reserve Bank of Zimbabwe Act [Chapter 22:15] 5 of 1999 and the National Payment Systems Act [Chapter 24:23] 21 of 2001 have a limited scope in terms of the regulation of mobile money services in Zimbabwe. The Ministry of Finance and Economic Development launched the National Financial Inclusion Strategy (NFIS) 2016-2020 to provide impetus to the financial inclusion of the poor, unbanked and low-income earners in Zimbabwe. However, the NFIS appears to push more for bank-led financial inclusion than it does for innovation-driven initiatives such as mobile money services. This article highlights the positive influence of mobile money services in improving financial inclusion for the poor, unbanked and low-income earners in Zimbabwe. The article also seeks to point out gaps and flaws in the financial services regulatory framework that may limit the potential of mobile money services to reach more people so that they actively participate in the Zimbabwean economy. It is submitted that the Zimbabwean mobile money services regulations and the financial regulatory framework should be carefully amended in line with the recent innovations in mobile money to adequately regulate the use of mobile money services and innovative technology to address the financial exclusion of the poor, unbanked and low-income earners in Zimbabwe.

Mobile Money - A Catalyst for Financial Inclusion in Developing Economies: A Case Study of Zimbabwe using FinScope Survey Data

GIS Business ◽  
2016 ◽  
Vol 12 (4) ◽  
pp. 45-56
Author(s):  
Kingstone Mutsonziwa ◽  
Obert K. Maposa
Keyword(s):  
Rural Communities ◽  
Developing Economies ◽  
Adult Population ◽  
Financial System ◽  
Financial Inclusion ◽  
Viable Option ◽  
Mobile Money ◽  
Bank Branches ◽  
Financial Transactions

Mobile money in Zimbabwe has extensively extended the frontiers of financial inclusion to reach millions who were earlier excluded within a relatively short space of time. The growing use of mobile phones in transferring money and making payments has significantly altered the countrys financial inclusion landscape as millions who had been hitherto excluded can now perform financial transactions in a relatively cheap, reliable and secure way. The FinScope results found out that 45% of the adult population use mobile money services. Of those using mobile money, 65% mentioned that is convenient, while 36% mentioned that it is cheap. Mobile money is accessible. These drivers are in the backdrop of few or no bank branches in rural communities as well as time and cost of accessing the bank branches. In Zimbabwe, mobile money is mostly used as a vehicle for remittances. While some people are enjoying mobile money services, it is important to mention that there are still people who are excluded from the formal financial system. The reasons why people do not use mobile money are mainly related to poverty issues. Mobile money remains a viable option to push the landscape of financial inclusion in Zimbabwe and other emerging markets where the formal financial system might not be strong.

Participation in Community Development Micro Projects in Niger Delta Region of Nigeria: Implications for Social Work Education and Practice

2021 ◽  
Vol 3 (4) ◽  
pp. 335-352
Author(s):  
Oghenechoja Dennis Veta
Keyword(s):  
Niger Delta ◽  
Development Process ◽  
Survey Design ◽  
Group Discussion ◽  
Delta Region ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Niger Delta Region ◽  
Borehole Water ◽  
Work Education

This study sought to investigate factors militating against community participation in development projects executed under the Micro Projects Programme and how to reduce such factors to the barest minimum in the Niger Delta region of Nigeria. A cross-sectional survey design was adopted for the study. A questionnaire, an in-depth interview (IDI) guide and a focus group discussion (FGD) guide were used for data collection. Borehole water, generator-house, health centres, staff quarters and markets were the projects executed. Inadequate devolution of power to the grassroots, among others, was the major problem that hindered involvement of community members in the development process of the Micro Projects Programme in the study areas. To enhance active participation of beneficiaries in the development process of the programme, suggestions are proffered.

Exploring Sport As Effective Engagement Mechanism For Youth Empowerment And Youth Development In Nigeria’s Niger Delta Region

2021 ◽  
Vol 9 (3) ◽  
pp. 157-182
Author(s):  
Douglas O. Nwaokugha
Keyword(s):  
Multinational Corporations ◽  
Youth Development ◽  
Niger Delta ◽  
Youth Empowerment ◽  
Philosophical Method ◽  
Youth Engagement ◽  
Delta Region ◽  
Human Rights Abuses ◽  
Niger Delta Region ◽  
Sustainable Peace

The Niger Delta region of Nigeria is synonymous with crisis occasioned by militancy, agitations and insurgency from the youth, who in recent times have become aware of the neglect, marginalization, human rights abuses, environmental degradation etc, people of the region suffer in the hands of the Nigerian government and Multinational Corporations that explore and exploit the Niger Delta environment for its rich natural resources. Investing time in militancy, agitations and insurgency as presently spearheaded by youth in the region has created more problems than solve the Niger Delta crises. Using the philosophical method, this paper makes a case on how sport can be an effective engagement mechanism for youth engagement and youth empowerment. The paper sees sport as a human engagement whose effective exploration and utilization can lead to the empowerment of youth in Nigeria’s Niger Delta and consequently recommends that states intervention agencies, politicians and philanthropists should make the provision of sport infrastructure a topmost priority for youth development and empowerment. The paper strongly maintains that policies that target youth empowerment in the Niger Delta region of Nigeria will surely be a foundation for sustainable peace and stability not only in Nigeria but across the globe.

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