Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


Adoption of Mobile Money Services and the Performance of Small and Medium Enterprises in Zimbabwe

Author(s): Reginald Masocha, Obey Dzomonda

This study focused on investigating the drivers of the adoption of mobile money services and the subsequent performance of Small and Medium Enterprises (SMEs) in Zimbabwe. This contribution used the quantitative research method with a descriptive research design. 160 SMEs participated in the survey and data was collected through the use of self-administered questionnaire in a survey. Participants in the study were selected owner/ managers of SMEs in the rural places in Zimbabwe sampled using the convenience sampling technique. The data was collected between September-November 2017. Data analysis included descriptive statistics, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modelling (SEM). SEM was used to test hypotheses and the results indicated that benefits of mobile money and challenges in traditional financial services influenced firm adoption of mobile money services. Conclusively, the study established that subsequent adoption of mobile money services has an influence on the performance of SMEs.