Browsing by Author "Lugisi, Patrick Malando"

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    The economic impact of m-banking on small business development in Tanzania: The case study of Kariakoo foodstuff vendors
    (Mzumbe University, 2015) Lugisi, Patrick Malando
    This study has attempted to explore the economic impact of m-banking on business development in Tanzania, a case study of Kariakoo market Foodstuff Vendors. The author was interested to find out the extent to which the vendors who bought foodstuffs from farmers in the upcountry regions used m-banking services to make payments. The study also investigated how the Tanzania Regulatory Authority was working with the Network Operators to ensure a good platform for m-banking services. The study further inquired the knowledge of the vendors on the potential of benefits from m-banking and the actual benefits they were getting. The study used a sample size of 89 respondents, 88 collected from Kariakoo Market Foodstuff Vendors and One from TCRA. Using a Chi-Square statistical Model and analysis of data using STATA, it was found that use of m-banking for economic activities was still very low. The vendors were found to understand the benefits of m-banking and mentioned things like easy access to withdrawals, easy service payments, low cost account servicing and low risk of funds. But even with this knowledge, few were already using m-banking for economic activities. Challenges faced m-banking were inadequate network availability to some areas, inadequate recovery of money. The Tanzania Communications Regulatory Authority (TCRA) had no specific law to govern financial Transactions. While use of mobile phones during the past ten years (2004 – 2014) was found to increase from 3 million to 29 million (country wide), however, as far as Foodstuff vendors of Kariakoo were concerned, usage of mobile phones on economic activities was not found to go in line with the increase of mobile phone lines. It was thus recommended that the government enacts laws to protect users of MFS for the potential of money lose through thefts and manipulations from the intended receivers. Further, more education should be provided to highlight the essence of MFS uses for economic activities. Lastly it is recommended that a study be carried out to establish, the extent to which product time is spend on surfing on unnecessary materials on phones in Tanzania.