Mobile Banking Accessibility and Growth of MSEs: A Case of Licensed MSEs in Makueni Sub- County
DOI:
https://doi.org/10.55077/edithcowanjournalofentrepreneurshipandprojectmanagement.v6i1.99Keywords:
Mobile Banking Accessibility Growth of MSEs Number of transactions Number of agent outlets Makueni Sub- CountyAbstract
Purpose: The current study focused on the influence mobile banking systemms on the growth of the MSEs in Makueni Sub- County..
Methodology: The descriptive research design was employed to conduct the study and targeted 2000 licensed MSEs in Makueni Sub- County. Then, a purposive sampling technique was used to obtain 200 micro and small entrepreneurs who utilize mobile banking, a 10% sample size of the entire population. The study used primary data obtained using survey questionnaires. Descriptive data analysis was the conducted using averages, counts, percentages and deviations. Inferential statistics were also used to present the causal influence between the variables.
Results: The findings further indicated that m-banking accessibility results in a significant and positive influence on growth of MSEs (β= 0.182, p=0.000).
Contribution to policy and practice: In the wake of the COVID-19 pandemic, the use of mobile money transactions is recommended to the MSEs since it has been shown to have a significant reduction influence on insecurity issues, cost of transactions and improve accessibility to financial services. It means that mobile money services help MSEs in Kenya achieve greater financial inclusivity and therefore, an assured and sustained growth. To the policy makers, the findings suggest that there is need to solidify and enforce strong digital policy that promotes cashless payment. This goes a long way to encourage the firms and small-scale entrepreneurs in the country to integrate financial developments in their businesses such as PayPal in websites, social media marketing, e-wallets, mobile banking etc. the policy can encourage MSEs to go regional and even global by utilizing the web-based platforms and acquiring markets across-borders..
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