The effect of mobile network operations on financial inclusion in Zambia.

The purpose of this research was to examine the effect of mobile money service offered by mobile money operators on financial inclusion in Zambia. Financial inclusion is an urgent issue because of great numbers of ‘unbanked’ people in developing countries. The unemployed and low income people find themselves excluded from financial services offered by financial institutions due to access barriers. The study adopted a survey design and covered Lusaka Central Business District in Lusaka Province of Zambia. The collection of information was done by administering questionnaires a sample of individuals. The study population were users of mobile money services provided by the mobile network operators. A mixed methods approach was adopted for this study. The descriptive aspect was used to analyse the qualitative data while SPSS was used to analyse quantitative data. The results revealed that mobile money services were the most preferred mode of money transfers and savings due to the fact that they are easily accessible, cheaper, easy to use and secure. The study concluded that mobile network operators have a positive impact on financial inclusion as their mobile money services were within reach and being taken up by those previously excluded and thus bridging the knowledge gap of financial exclusion. The researcher was able to come up with a few recommendations for mobile network operators and key stakeholders of the mobile financial services industry and a suggestion for future research to fill the existing knowledge gaps that relates to this field of knowledge.