Effect of Mobile Money Payments on Financial Deepening in Kenya

Abstract

The main purpose of this study was to establish the effect of mobile money payments on financial deepening in Kenya. The study adopted a descriptive survey research design. It made use of secondary data that was collected from Central Bank of Kenya , Kenya National Bureau of Statistics and Communications Authority of Kenya for a period of ten years from 2004 to 2013 . Regression analysis was used to establish the effect of mobile money payments on financial deepening in Kenya. The study revealed that mobile money payments have a significant relationship with financial deepening in Kenya. How ever, the study results indicate that mobile deposits have a negative relationship with financial deepening and the study recommends further research to be done on why mobile deposits have a negative relationship with financial deepening