Factors affecting use of mobile money services in Uganda

Abstract

The use of mobile money is part of the major sub-Saharan policies to improve financial inclusion of its citizens. The purpose of the study was to determine the factors affecting the use of mobile money in Uganda. A probit regression model was run to on 2017 World Bank’s Global Findex data on financial inclusion in which Uganda’s data is inclusive. The findings indicated that The probability of the respondent using mobile money services is significantly influenced by gender category of being male RRR (0.482**) at 5% level of significance, being < 18 years RRR (0.457***) at 10% level of significance, having high income RRR (0.397***) at 10% level of significance and convenience of mobile money services RRR (0.640***). The findings of the study are in agreement with (Demirgüç-kunt et al., 2020) who indicated that income level, the ease and accessibility of mobile money points influenced west African use of mobile money services. From policy point of view the study recommended that for any government program aimed at financial inclusion it should target the population based on.