Adoption and usage of mobile money by SMEs in rural Zimbabwe
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This study investigated the adoption and usage of mobile money by SMEs in rural Zimbabwe in which data was collected from respondents in Mhondoro Ngezi rural area in Mashonaland West province. Data was collected using self-administered questionnaires, which were distributed to 30 respondents with one representative from each SMEs business, yielding a 90% response rate. Measures of central tendency, measures of dispersion and measures of distribution was used to analyse the adoption and usage level of mobile money by SMEs, whereas regression analysis was used to test for the influence of transaction cost and the impact of mobile money on sales revenue of SMEs. In relation to technological adoption theories the study revealed that there is high adoption and usage of mobile money by SMEs as means of financial inclusion, low transaction cost of using mobile money influenced adoption and usage of the service by SMEs and also that mobile money service has a positive impact on sales revenue. The study recommends that other SMEs not yet using the innovation should consider adopting and using the service as it breaks the financial exclusion challenge and enhances business performance through reduced costs and convenient provision of financial service that is cost effective. Additionally the study concluded that service providers should create more uses of mobile money service that can be utilised by SMEs to further enhance business activities.
- Department of Marketing