Impact of mobile banking on financial inclusion among rural population, a case study of Mashonaland Central

Author

Molly Ticharwa

Title

Impact of mobile banking on financial inclusion among rural population, a case study of Mashonaland Central

Abstract

The research study focused on the Impact of mobile banking on financial inclusion among rural population, a case study of Mashonaland Central. The study was guided by the following objectives; to assess the impact of mobile banking on financial inclusion among the rural population in Mashonaland Central province, to explore the benefits of mobile banking on financial inclusion in Mashonaland Central, to identify the main barriers to financial inclusion among rural population in Mashonaland Central and to determine the strategies which can be adopted to enable a positive impact on financial inclusion in Mashonaland Central. The literature review highlights the research approach, influenced by factors such as research questions, objectives, time constraints, researcher philosophy, and available resources. A mixed of quantitative and qualitative research approach was employed, aiming to investigate cause-and-effect relationships and as well as gain deeper insights about the phenomena at hand. The study's target population comprised financial institutions, policy makers, mobile network operators, and rural Mashonaland Central inhabitants. Primary data was collected using probability sampling, ensuring a representative sample of 100 samples from the total population. Findings reveal a mixed perception of mobile banking and financial inclusion. The study found that while mobile banking has had a moderately positive impact on financial inclusion in Mashonaland Central, rural populations still face significant barriers such as limited digital literacy, technical skills, network coverage, and high costs. Recommendations include improving digital literacy and technical skills, enhance network coverage and connectivity, subsidies mobile devices and data plans as well as build trust in mobile banking. In conclusion, to enable a more positive impact, the key strategy identified is increasing knowledge, awareness, and education, with financial institutions and mobile network operators playing a crucial role in conducting educational campaigns and disseminating comprehensive information, particularly in rural communities, to help people better understand and effectively utilize mobile banking services.

Date

2024

Publisher

BUSE

Keywords

Mobile banking

Financial inclusion

Population

Supervisor

N/A