ABSTRACT The purpose of this study was to investigate the extent to which mobile phone banking has enhanced the involvement of people in financial markets in selected M-PESA outlets in Kenya. The study adopted a cross-sectional survey research design which allowed the collection of primary quantitative data through structured questionnaires. The target population was 500 respondents sampled from three districts (Bungoma, Nakuru and Nairobi — Kenya). Sloven’s formula was adopted to arrive at 222 respondents who were subjected to the research study. The data was analyzed using both descriptive and inferential statistics. Consequently, the findings of the study were that mobile phone banking has greatly influenced the participation of people in financial markets in Kenya since a majority of the respondents frequently used the M-PESA service because it has a bigger market penetration and widely adopted. The study also revealed that a bigger percentage of the M-PESA users are young single adults most of whom were male. It further indicated that the wider market penetration of M-PESA has enabled the people access money faster thus realizing a greater extent of mobile phone banking. The study revealed that financial markets in Kenya has witnessed a greater extent because it has shifted from corporate and big business participation to individual customers participating in financial markets. In a nutshell therefore, the study revealed that mobile phone banking is positively related to financial markets at 0.001 level of significance. The study therefore concluded that mobile phone banking has an influence on financial markets hence the need for Safaricom to strengthen its collaboration with financial institutions such that the M-PESA service is integrated in their financial packages to enhance faster service delivery.
TABLE OF CONTENTS
DECLARATION A
DECLARATION B
APPROVAL SHEET
DEDICATION iv
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF CONTENTS vii
LISTOFTABLES
LIST OF FIGURES xi
CHAPTER ONE 1
THE PROBLEM AND ITS SCOPE 1
Background of the Study 1
M-PESA MobNe Money 2
Statement of the Prob~em 4
Purpose of the Study s
Research Objectives s
Research Questions 5
Scope of the Study 6
Geographical Scope 6
Theoretical Scope 6
Content Scope 7
Significance of the Study 8
Operationa~ Definitions of Key Terms 9
CHAPTER TWO.io
REVIEW OF RELATED LITERATURE 10
Concepts, Opinions, Ideas from Authors/Experts 10
Theoretical Perspectives 17
Related Studies 18
SCHEMA 21
CHAPTERTHREE 22
METHODOLOGY 22
Research Design 22
Research Population 22
Sample Size 22
Sampling Procedure 23
Research Instrument 23
Validity and Reliability of the Instrument 24
Data Gathering Procedures 24
Before the administration of the questionnaires 24
During the administration of the questionnaires 25
After the administration ofthe questionnafres 25
Data Analysis 25
Data Interpretation 26
Ethical Considerations 26
Limitation of the Study 27
CHAPTER FOUR 28
PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA 28
Data Analysis and Presentations 28
CHAPTER FIVE .38
FINDINGS, CONCLUSIONS AND RECOMMENDATIONS 38
CONCLUSIONS 40
RECOMMENDATIONS 41
REFERENCES 42
APPENDIX I: TRANSMITTAL LETTER 45
APPENDIX II: CLEARANCE FROM ETHICS COMMITTEE 45
APPENDIX II: CLEARANCE FROM ETHICS COMMITTEE 46
APPENDIX III: INFORMED CONSENT 47
APPENDIX IVA 48
QUESTIONNAIRE TO DETERMINE LEVEL OF SIGNIFICANCE OF MOBILE
PHONE BANKING TO FINANCIAL MARKETS 48
FACE SHEET 49
RESEARCHER’S CURRICULUM VITAE 52
Research, S. (2022). Mobile Phone Banking and Financial Markets in Selected M-Pesa Outlets in Kenya. Afribary. Retrieved from https://tracking.afribary.com/works/mobile-phone-banking-and-financial-markets-in-selected-m-pesa-outlets-in-kenya
Research, SSA "Mobile Phone Banking and Financial Markets in Selected M-Pesa Outlets in Kenya" Afribary. Afribary, 10 Oct. 2022, https://tracking.afribary.com/works/mobile-phone-banking-and-financial-markets-in-selected-m-pesa-outlets-in-kenya. Accessed 12 Nov. 2024.
Research, SSA . "Mobile Phone Banking and Financial Markets in Selected M-Pesa Outlets in Kenya". Afribary, Afribary, 10 Oct. 2022. Web. 12 Nov. 2024. < https://tracking.afribary.com/works/mobile-phone-banking-and-financial-markets-in-selected-m-pesa-outlets-in-kenya >.
Research, SSA . "Mobile Phone Banking and Financial Markets in Selected M-Pesa Outlets in Kenya" Afribary (2022). Accessed November 12, 2024. https://tracking.afribary.com/works/mobile-phone-banking-and-financial-markets-in-selected-m-pesa-outlets-in-kenya