Determinants of Mobile Money Adoption among Micro and Small Enterprises in Lusaka

Dr Zivanai Mazhambe and Tasila Alice Ngwira
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Dr Zivanai Mazhambe: Graduate School of Business, University of Zambia, Zambia
Tasila Alice Ngwira: Graduate School of Business, University of Zambia, Zambia

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 9, 826-830

Abstract: The aim of the study was to understand the factors that influence the adoption of mobile money services for business transaction purposes by micro and small enterprises (MSEs) in Lusaka. The aim was divided into three specific objectives. These objectives were to determine the factors (demographic and economic factors and features available) that influence the use of mobile money by MSEs for business transaction purposes; to achieve this primary focus was given to three factors availability of savings and borrowing services on the platform, transaction costs and gender. Age and education were control variables. The study used cross-sectional primary data. The study employed a pragmatism research philosophy and a mixed research approach. The data was collected using a survey questionnaire administered by the researcher to respondents sampled using purposive sampling technique. The study had a sample size of 102 respondents. The binary logistic model was the regression model used. The empirical results showed that most businesses who use Airtel money started using it less than a year ago, consider the cost to be fair, save on the platform, are affected by insufficient space borrow on the platform and are also affected by the unavailability of agents. The regression results of the binary logistic model showed that savings and insufficient float have a statistically significant impact on the adoption of mobile money. Saving using mobile money increases the likelihood of using it to conduct business transactions and issues of insufficient float among agents constrain the probability of using it to conduct business transactions.

Date: 2022
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