Comparative study examines financial inclusion and economic benefits of mobile banking in Nairobi slum youth, suggesting potential growth.
This study examines the adoption of mobile banking services among youth in Nairobi slums, focusing on their financial inclusion and economic outcomes. Data was collected through a structured survey administered by trained interviewers, focusing on 500 participants aged between 18 to 35 years. Mobile banking adoption rates varied significantly across age groups. Younger adults (aged 18-24) showed higher adoption at 67%, while older adults (aged 25-35) had a lower rate of 43%. Analysis also revealed that mobile banking users experienced an average income growth of $100 per month. The study concludes that mobile banking has potential as a tool for financial inclusion among youth in Nairobi slums, though adoption rates vary by age and socio-economic status. Future research should focus on improving access to digital technologies in these communities to maximise the benefits of mobile banking services. Model estimation used θ̂=argminθ∑ᵢ(yᵢ,f_θ(xᵢ))+λθ₂², with performance evaluated using out-of-sample error.
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Mutonyi et al. (2007) studied this question.
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