Evaluation of the factors affecting mobile money operators credit access : a case study of Lusaka central business district.
Zambia's government prioritizes finance access for economic growth. Mobile Network Operators offer expanded financial services, including credit. Research in Lusaka CBD examines factors influencing MNO credit access. It was a mono quantitative method approach. Sample size comprised 125 MNOs. Simple random sampling with a combination of purposive sampling were used to select respondents. Univariate and bivariate (chi Square statistical test were used) in Statistics Data (STATA) Version 14. The analysis reveals that individuals aged 25-29 and those with secondary or tertiary education are the most proficient users of mobile money services due to their tech-savvy nature and financial literacy. Young adults in the 25-29 age group, known as "digital natives," find mobile money convenient and accessible, embracing cashless transactions. Moreover, those with higher education levels demonstrate a deeper understanding of financial concepts, extending their use of mobile money to activities like savings and accessing microloans, leading to financial empowerment. These insights are crucial for financial industry stakeholders, guiding the design of more inclusive mobile money services and informing initiatives for enhancing financial inclusion. By leveraging these findings, stakeholders can tailor strategies and resources to meet the needs of different user groups. Policymakers can use this information to promote digital literacy and higher education, empowering individuals from diverse backgrounds to benefit from mobile money platforms, thereby driving economic growth. The study concludes by making the following recommendations: Enhance digital literacy as one of the tools to expand access to mobile money as mobile money’s effectiveness hinges on age, education, accessibility, and trustability. It further suggests that, the Authority must strengthen security measures and tailor services to meet the needs of different age groups. Suggestions for future study: Conduct longitudinal analysis and comparative studies, explore user experiences through qualitative research, and assess the impact of policy interventions on mobile money adoption and financial inclusion.
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