Mobile money services and financial Inclusion in rural area of Rwanda. A case study of Nyamasheke District

Abstract

The study found a connection between mobile money services and financial inclusion. The goals of the study were to gauge the extent of financial inclusion in the Nyamasheke district, ascertain the connection between financial inclusion and Mokash loans, and evaluate the connection between financial inclusion and mobile money e-payments in the district. The study used correlation research design to analyze data. Seller firms in the Nyamasheke district made up the study's population. Data from a sample of 176 seller enterprises was gathered via questionnaires. Inferential statistics (Pearson product correlation moment, simple linear regression) and descriptive statistics (mean values and standard deviations), frequencies, percentages, pie charts, graphs, and percentages were utilized to examine the data in order to meet the objectives. With coefficient determination (R2=.065, p0.05), the study found that mobile money services were statistically significant predictors of financial inclusion. The study also revealed that level of financial inclusion rated low with mean values ranging between 1.76 and 2.50 with (Mean=2.10; SD=1.02), the study also revealed that mokash loan contribute to financial inclusion with (R2 =.179, P<0,05). The study showed that mobile money e-payment is statistically significant to financial inclusion with (R2 =.041, p< value 0.05). The study recommends that mobile money operators should consider offering comprehensive digital financial education to avoid the need to go to an agent and hand over a PIN and allow users to make transactions themselves.