Perceived Value and Financial Inclusion of Micro-Enterprise Projects in Machakos County, Kenya
Keywords:
Perceived value, financial inclusion, Micro-enterprisesAbstract
Purpose: The purpose of the study was to establish the influence of perceived value on financial inclusion of micro-enterprises in Machakos County, Kenya.
Methodology: The study adopted a descriptive research design. Purposive sampling technique was used to select the sample for the study. Questionnaire was used for data collection as it was cost effective as opposed to other instruments. The research instruments were tested for reliability using the split half method. This was done by collecting data from 60 respondents. Data was verified and edited for completeness and consistency. Content analysis and descriptive analysis was employed. Regression analysis was applied to establish the relationship between the variables.
Results: The findings revealed that a positive correlation coefficient of 0.311 (or 31.10%) existed between perceived value and financial inclusion of micro-enterprises. The findings also revealed that perceived value and financial inclusion are positively and significantly related (β=0.233, p<0.001). This implies that perceived value of internet banking is an important factor influencing the financial inclusion of micro-enterprises. From hypothesis testing the study found that perceived value have a significant effect on financial inclusion of micro-enterprises. In addition perceived value have a significant effect on financial services technology innovation of micro-enterprises.
Unique contribution to theory, practice and policy: The study recommends the level of usage of mobile and internet banking to be increased by micro-enterprises. This means customers should have more freedom and frequency in paying for the goods and services provided by micro-enterprises through mobile and internet banking. Though tremendous improvement has been achieved, a lot has to be done regarding the number of transactions transacted through the mobile and internet platforms are still low
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