Factors determining financial inclusion: the case of mobile money transfer services in Nairobi
The main objective of this paper was to examine the factors determining the use of mobile financial services in Kenya. The study used a sample drawn from the Nairobi central business District.A multinomial logit model was used to model the use of three types of financial services namely mobile money transfers,mobile paments and mobile banking against various explanatory factors such as age,gender,education level,tariff of service and volume of transactions. The study found that the use of more sophisticated financial services - mobile payments and mobile banking - depends on the gender, education and wealth of individuals as well as the tariffs of service and volume of transactions. The study recommends: development of financial products and services which are gender-sensitive and sensitive to low-income earners, as well as creation of awareness on financial services both in urban and rural areas.