Czasopismo
Tytuł artykułu
Warianty tytułu
Języki publikacji
Abstrakty
Financial inclusion has gained prominence as a critical element for sustainable devel-opment and inclusive growth. Saving and Credit Cooperative Societies (SACCOs) in Kenya play a vital role in providing financial services to their members, particularly those who are underserved by traditional banking institutions. However, limited access to financial services remains a significant challenge. This conference paper investigates how the adoption of digital financial services influences financial inclusion among members of saving and credit cooperative societies in Kenya. Survey data were collected from 334 randomly selected SACCO members. This study employed probit regression analysis to assess the hypotheses developed. The findings of the research support the hypothesis that the adoption of digital financial services positively influences financial inclusion among SACCO members. The analysis revealed that the implementation of digital financial services (DFSs) has significantly expanded financial access for previ-ously underserved populations. Members now have convenient and efficient channels to save, borrow, and manage their finances, leading to increased economic empower-ment and reduced inequalities. Moreover, the adoption of digital financial services has streamlined SACCO operations, improving efficiency, transparency, and accountabil-ity. This has aided SACCOs in serving their members'financial needs more effectively.(original abstract)
Twórcy
autor
- Strathmore University Business School, Nairobi, Kenya
autor
- Strathmore University Business School, Nairobi, Kenya
autor
- Strathmore University Business School, Nairobi, Kenya
Bibliografia
- 1.Arner, D. W., Barberis, J., & Buckley, R. P. (2017a).FinTech, RegTech, and the reconceptualization of financial regulation. NorthwesternJournal of International Business and Law, 37, 371-413.
- 2.Arner, D. W., Zetzsche, D. A., Buckley, R. P., & Barberis, J. N. (2017b). FinTech and RegTech: Ena-bling innovation while preserving financial stability. Georgetown Journal of International Affairs, 47-58. https://www.jstor.org/stable/26395923
- 3.Awosika, O. A. (2023). Chasing the digital savings dream for Sub-Saharan Africa: Navigating pol-icy,behaviour and financial inclusion literature in emerging economies. Lancaster University (United Kingdom).
- 4.Bwana, K. M., & Mwakujonga, J. (2013).Issues in SACCOS development in Kenya and Tanzania: e historical and development perspectives. Developing Country Studies, 3(5), 114-121.
- 5.Cele, L. (2022). Youth perceptions of, and willingness to join Irish dairy cooperatives and their governance.Journal of Co-operative Organization and Management, 10(2), 100180. https://doi.org/10.1016/j.jcom.2022.100180
- 6.Central Bank of Kenya.(2021). FinAccess Household Survey December 2021. Nairobi, Kenya.
- 7.Consumers International.(2017).Banking on the future: An exploration of Fintech and the con-sumer interest, monograph, consumers international: Coming together for change -July 2017. https://www.consumersinternational.org/media/154710/banking-on-the-future-full-report.pdf
- 8.Davis, F. D. (1989).Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 319-340.
- 9.Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022).Financial inclusion, digital payments, and resilience in the age of COVID-19. https://openknowledge.worldbank.org/han-dle/10986/37578.
- 10.Demirgüç-Kunt, A., Klapper, L., Singer, D., Ansar, S., & Hess, J. (2018).Global Findex database 2017, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolu-tion. https://doi.org/10.1596/978-1-4648-1259-0
- 11.DigiPay.(2023). What is a SACCO and why should it be digitized? https://www.digipay.guru/blog/digital-evolution-of-saccos-aer-covid-19/
- 12.Ediagbonya, V., & Tioluwani, C. (2023).The role of fintech in driving financial inclusion in devel-oping and emerging markets: issues, challenges and prospects. Technological Sustainability, 2(1), 100-119.https://doi.org/10.1108/techs-10-2021-0017
- 13.Ezzahid, E., & Elouaourti, Z. (2022). Financial inclusion, financial frictions, and economic growth: Evidence from Africa.Journal of African Business, 23(3), 731-756. DOI:10.1080/15228916.2021.1926856
- 14.Feather, C., Meme, C. K. (2019), Strengthening housing finance in emerging markets: the savings and credit cooperative organization (SACCO) model in Kenya, Housing Studies, 34(9), 1485 1520.https://doi.org/10.1080/02673037.2019.1584663
- 15.Frank, T., Mbabazize, M., & Shukla, J. (2015).Savings and credit cooperatives (Sacco's) services' terms and members' economic development in Rwanda: A case study of Zigama Sacco Ltd.Inter-national Journal of Community and Cooperative Studies, 3(2), 1-56.
- 16. FSD Kenya (2019). The 2019 FinAccess household survey -Financial sector deepening Kenya. Nairobi, Kenya. https://fsdkenya.org/publication/finaccess2019/
- 17.Gupta, N. (2022). How SACCOs' digitization can improve loan distribution -WakandiGroup. https://blog.wakandi.com/blog/how-saccos-digitization-can-improve-loan-distribution
- 18.Government of Kenya.(2010). SACCO Societies Act: The Sacco societies (Deposit-Taking Busi-ness) Regulations, 2010. SARA, Nairobi, Kenya. https://www.sasra.go.ke/download/sacco-society-regulations/
- 19.Government of Kenya.(2020), SACCO Societies Act: the Sacco societies (Non-Deposit-Taking Business) Regulations, 2020. SASRA, Nairobi, Kenya. https://www.sasra.go.ke/download/sacco-so-cieties-non-deposit-taking-business-regulations-2020/(
- 20.Hemed, H. R. (2022).e Effects of Financial Inclusion Strategies on Financial Performance of De-posit Taking Savings and Credit Co-operatives Societies (Saccos) in Kenya(Doctoral dissertation, University of Nairobi).
- 21.International Labour Organization (ILO).(2015).Advancing gender equality: The co-operative way. Geneva, Switzerland. https://www.ilo.org/wcmsp5/groups/public/---ed_emp/---emp_ent/---coop/documents/publication/wcms_379095.pdf
- 22.Jagtiani, J., & Lemieux, C. (2018). Do FinTech lenders penetrate areas that are underserved by traditional banks?.Journal of Economics & Business, 100, 43-54.
- 23.Jumena, B. B., Siaila, S.,&Widokarti, J. R. (2022).Saving behaviour: Factors that affect saving decisions (Systematic Literature Review Approach).Journal Economic Resource, 5(2), 217-235. https://doi.org/10.56750/jer.v5i2.365
- 24.Kenya National Bureau of Statistics (KNBS).(2022).Economic survey 2022. Nairobi, Kenya. https://www.knbs.or.ke/wp-content/uploads/2022/05/2022-Economic-Survey1.pdf
- 25.Maina, J. N., Kiai, R. M., & Ngina, T. (2020).Financial innovation practice, sacco size and financial sustainability of deposit taking saving and credit co-operatives in Kenya. Financial Studies, 24(3), 51-65.
- 26.Mathuva, D. (2016).Revenue diversification and financial performance of savings and credit co-operatives in Kenya.Journal of Co-operative Organization and Management, 4(1), 1-12. https://doi.org/10.1016/j.jcom.2015.11.001
- 27.Mathuva, D. M. (2016).Drivers of financial and social disclosure by savings and credit coopera-tives in Kenya: A managerial perspective.Journal of Co-operative Organization and Management, 4(2), 85-96. https://doi.org/10.1016/j.jcom.2016.08.001
- 28.Mathuva, D., & Kiweu, J. (2016).Cooperative social and environmental disclosure and financial performance of savings and credit cooperatives in Kenya.Advances in Accounting, 35, 197-206. https://doi.org/10.1016/J.ADIAC.2016.09.002
- 29.McKillop, D., & Wilson, J. O. S. (2011).Credit unions: A theoretical and empirical overview, Fi-nancial Markets.Institutions and Instruments, 20(3), 79-123. https://doi.org/10.1111/j.1468-0416.2011.00166.x
- 30.McKillop, D., French, D., Quinn, B., Sobiech, A. L., & Wilson, J. O. S. (2020).Cooperative financial institutions: A review of the literature. International Review of Financial Analysis,71. https://doi.org/10.1016/j.irfa.2020.101520
- 31.Mhlanga, D., & Dzingirai, M. (2023).Postindependence development and financial inclusion in Africa: Case studies and the way Forward to support further financial inclusion, In Mhlanga, D., Ndhlovu, E. (eds) Economic Inclusion in Post-Independence Africa. Advances in African Eco-nomic, Socialand Political Development. Springer, Cham. https://doi.org/10.1007/978-3-031-31431-5_8
- 32.Misati, R., Osoro, J., Odongo, M., & Abdul, F. (2022).Does digital financial innovation enhance financial deepening and growth in Kenya?International Journal of Emerging Markets, 19(3),679-705. https://doi.org/10.1108/IJOEM-09-2021-1389
- 33.Moki, N. M., Kanini, & Kinyua, S. G. M. (2019).Financial innovation strategy and financial per-formance of deposit taking Sacco's in Nairobi City County. International Academic Journal of Eco-nomics and Finance, 3(3), 398-417.
- 34.Ndwiga, P. M., & Maina, J. N. (2018). Financial innovation as an alternative delivery channel and financial performance of listed commercial banks in Kenya.European Journal of Business and Man-agement, 10(17), 65-69.
- 35.Nguyen, T. (2021). Measuring financial inclusion: a composite FI index for the developing countries.Journal of Economics and Development, 23(1), 77-99. https://doi.org/10.1108/JED-03-2020-0027
- 36.Ogindo, E. A., & Njoka, C. . (2023). Digital Transformation and Financial Performance of De-posit-Taking Savings and Credit Co-Operatives in Nairobi City County, Kenya.Journal of Finance and Accounting,3(2), 45-56. https://edinburgjournals.org/journals/index.php/journal-of-finance-and-accountin/article/view/172
- 37.Ong, H.-B., Wasiuzzaman, S., Chong, L.-L., & Choon, S.-W. (2023).Digitalization and financial inclusion of lower middle-income ASEAN.Heliyon,e13347.https://doi.org/10.1016/j.heli-yon.2023.e13347
- 38.Ouma, S. A., Odongo, T. M., & Were, M. (2017).Mobile financial services and financial inclusion: Is it a boon for savings mobilization?.Review of Development Finance, 7(1), 29-35. https://doi.org/10.1016/J.RDF.2017.01.001
- 39.Ototo, G. (2017).The SACCO movement in Kenya up to 2017, 88-93.
- 40.Ozili, P. K. (2018).Impact of digital finance on financial inclusion and stability.Borsa Istanbul Review, 18(4), 329-340. https://doi.org/10.1016/j.bir.2017.12.003
- 41.Pazarbasioglu, C., Mora, A. G., Uttamchandani, M., Natarajan, H., Feyen, E., & Saal, M. (2020).Digital financial services,World Bank Group. https://pub-docs.worldbank.org/en/230281588169110691/Digital-Financial-Services.pdf
- 42.SASRA.(2021).The Sacco supervision annual report 2020, In Sacco Societies Regulatory Author-ity (SASRA). https://www.sasra.go.ke/download/sacco-supervision-annual-report-2020/
- 43.Slovin, E. (1960).Slovin's formula for sampling technique. https://prudencexd.weebly.com/
- 44.Stockemer, D., Stockemer, G.,&Glaeser, J. (2019).Quantitative methods for the social sci-ences,50, (pp. 185). Cham, Switzerland: Springer International Publishing.
- 45.The World Bank.(2021). World development indicators. DataBank, Data Bank. https://data-bank.worldbank.org/source/world-development-indicators
- 46.Varlamova, J., Larionova, N., & Zulfakarova, L. (2020).Digital technologies and saving behavior.InInternational Scientific Conference" Far East Con"(ISCFEC 2020),1661-1667.
- 47.Wanyonyi, K. S.,& Ngaba, D. (2021).Digital financial services and financial performance of sav-ings and credit cooperative societies in Kakamega County, Kenya.International Journal of Current Aspects in Finance, Banking and Accounting, 3(1), 9-20. https://doi.org/10.35942/ijcfa.v3i1.177
- 48.Westermeier, C. (2018).The bank of international settlements as a think tank for financial policy-making. Policy and Society,37(2), 170-187.
- 49.Were, M., Odongo, M.,&Israel, C. (2021).Gender disparities in financial inclusion in Tanzania, WIDER Working Paper, 2021/97, The United Nations University World Institute for Development Economics Research (UNU-WIDER), Helsinki. https://doi.org/10.35188/UNU-WIDER/2021/037-5
- 50.Wooldridge, J. M. (2018), Introductory econometrics: A modern approach (upper leveleconom-ics titles). Southwestern College Publishing, Nashville, ΤАTN,41, 673-690.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171686374