Business Research Method Research Proposal

This research proposal focuses on the impact of using Mobile Banking technology on the ability to reach the unbanked in Kenya by Musoni Microfinance Ltd to facilitate financial inclusion for the unbanked.

Running head: BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Business Research Method Research Proposal
Name of student
Name of University
Author note

1BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Table of Contents
Introduction to the actual issue..................................................................................................3
Business vision and mission statement......................................................................................3
Research goal and objectives.....................................................................................................3
Analysis of findings related to the environment (PESTLE)......................................................3
Graphs, diagrams and tables......................................................................................................4
Reason for choosing the computerised statistical system........................................................14
Analysis and discussion of the recommended solutions..........................................................14
Effective strategies needed to improve the present business situation....................................16
Marketing mix strategy.........................................................................................................16
SWOT analysis.....................................................................................................................17
Ethical considerations of research............................................................................................18
Recommendations................................................................................................................19
Conclusion................................................................................................................................19
References…………………………………………………………………………………..20

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Business case development
Introduction to the actual issue
According to the business case, the actual issue here is the poor accessibility of
financial services by people with lower income level and those who belong from the rural
areas with poor ability to manage financial and banking transactions in Kenya. The financial
inclusion enables provision of financial services and delivering those at an affordable cost for
the people who fall in the low income category within the society and has been a major
influencer for the growth and development in economy of the nation. There are evidences,
which showed that nearly 2 billion people faced difficulties or even have no options to access
the financial services by the saccos and micro finance institutions (Chandran, 2014). To
resolve this issue, a major World Bank Group meeting was conducted, which showed
commitment of the stakeholders towards the promotions of financial inclusion and thus a new
global development goal has been introduced to ensure achievement of Universal financial
access by the end of the year 2020 (Musoni.co.ke, 2019).
Business vision and mission statement
The vision of Musoni Microfinance Ltd is to become the most reliable and efficient
microfinance institution by using Mobile Banking technology to remain cashless, paperless
and data driven for delivering the best value, flexible and customer oriented financial services
to the people in Kenya. There are many places in Kenya, also referred to as the unbanked and
the people residing there have been unable to access good quality financial services and even
failed to manage the banking activities properly due to the unavailability of financial
institutions in those places (Mishra& Bisht, 2013). The mission statement of Musoni
Microfinance Ltd is to grow, develop and maximise the efficiency of businesses with lower

3BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
income and unbanked in Kenya with the management of flexible, customer focused financial
services’ delivery available at an affordable cost.
Research goal and objectives
The research aims to find out the impact of using Mobile Banking technology on the
ability to reach the unbanked in Kenya by Musoni Microfinance Ltd to facilitate financial
inclusion for the unbanked (Nganga & Mwachofi, 2013).
Research objectives:
 To identify the impact of using Mobile Banking Technology by Musoni Microfinance
Ltd in Kenya to reach the unbanked
 To evaluate the various ways of implementing the right mobile banking system and
ensure better accessibility to financial services for the people in rural areas of Kenya
 To assess the probable impact that might be caused with the use of Mobile Banking
technology for extending reach to more people
 To recommend necessary measures for improving the effectiveness of Mobile
Banking technology and create convenience for the unbanked to access the financial
services and manage banking activities properly
Analysis of findings related to the environment (PESTLE)
Political factors
The banking sector in Kenya is not much powerful and it has been susceptible to the
Government laws, rules and regulations. The laws introduced by the Government have
affected the banking industry and with the intervening in banking matters, the industry has
been susceptible to political influences largely as well. There are trade restrictions along with
tariffs and associated legislative laws related to political stability, which have also created an

4BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
impact on the banking industry of Kenya (Pailman, Kruger & Prasad¸2015). The political
conditions are uncertain in Kenya and crime rate is high while changing laws, rules and
regulations further contributed to the management of banks in Kenya. Due to this, the
economic development and growth have also been hindered.
Economic factors
The lower rates of interest and volatile Kenyan currency are considered as major
economic factors affecting the banking industry. The economic growth in slow and many
people have experienced poverty and lower income, due to which, they have been unable to
access the financials services properly. With the lack of knowledge and information about the
financial sector, the unbanked have not been reached, which has further hindered the micro
financial institutions to deliver best quality financial services to people with ease and
effectiveness (Shaikh, Karjaluoto & Chinje, 2015). The inflation rates have affected the
currency and created unstable conditions, furthermore, prevented many of the shareholders to
make investments where the value of currency had been high (Musoni.co.ke, 2019).
Social factors
The buying behaviours and cultural influences have influenced the people to choose
the banking options, but with the poverty and high crime rate in Kenya, most of the
individuals and unbanked have been unable to access the right financial services properly.
The consumers in Kenya in the rural areas do not have sufficient knowledge and information
about saving accounts, investments, bank related credit cards and financial transactions due to
unavailability of physical banks located in many places (Hossain et al., 2015). Due to the
expectations of seamless banking experience and with the advancement of new technologies,
the micro finance institutions have managed to provide assistance to them by enabling the
Mobile banking technology, which can make the consumers remain connected with the bank

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from anywhere and at the same time, manage financial transactions with ease and
effectiveness (Kumar, Sethi & Krishnakumar¸2015).
Technological factors
The use of advanced technologies and implementation of Mobile Banking technology
have further contributed to the way consumers manage their funds. The saccos and micro
finance institutions have used Mobile Banking technology with the integration of mobile app
for creating convenience for the unbanked and people residing in rural areas to transfer funds,
manage accounts, pay bill by just using a smart phone from anywhere and anytime
(Jamaludddin, 2014).
Legal factors
Considering the fact that banking industry needs to follow strict laws, rules and
regulations related to the privacy of clients, consumer related laws and trade structures,
Musoni Microfinance Ltd has used this Mobile banking system to reach the unbanked and
those people who have limited or no access to financial services due to the lack of physical
banks near the places (Arif, Afshan & Sharif, 2016). The economic growth being poor in the
country, needs proper investments in technology to create much more convenience for the
people to manage the financials services efficiently.
Environmental factors
The micro financial institutions have focused on reducing the environmental footprint
and made sure to manage the wastes properly, thus lead to the formation of a healthy
community where people can stay healthy and live happily.

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Graphs, diagrams and tables
The use of Mobile Banking technology has improved the performance of saccos and
micro finance institutions in Kenya
Answer Choices – Responses –
–
Strongly agree
50.00%
10
–
Agree
30.00%
6
–
Neither agree nor disagree
5.00%
1
–
Disagree
5.00%
1
–
Strongly disagree
10.00%
2

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Answer Choices – Responses –
TOTAL 20
The Mobile Banking technology involving use of smart cards and mobile phones has
created convenience for the unbanked in Kenya
Answer Choices – Responses –
–
Strongly agree
25.00%
5
–
Agree
30.00%
6
–
Neither agree nor disagree
5.00%
1
–
Disagree
25.00%
5

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Answer Choices – Responses –
–
Strongly disagree
15.00%
3
Total Respondents: 20
The low income individuals who do not have access to the physical banks are benefited
the most
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
20.00%
4
–
Neither agree nor disagree
15.00%
3

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Answer Choices – Responses –
–
Disagree
10.00%
2
–
Strongly disagree
20.00%
4
Total Respondents: 20
Musoni microfinance institution in Kenya has successfully managed to implement the
Mobile Banking technology to create better accessibility to financial services for the
unbanked in Kenya
Answer Choices – Responses –
–
Strongly approve
15.00%
3
– 35.00%

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Answer Choices – Responses –
Approve 7
–
Neither approve nor disapprove
15.00%
3
–
Disapprove
25.00%
5
–
Strongly disapprove
10.00%
2
TOTAL 20
The use of cell phones have created promising scopes and opportunities for synergies
between mobile banking technology and micro finance
Answer Choices – Responses –
– 10.00%

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Answer Choices – Responses –
Strongly agree 2
–
Agree
45.00%
9
–
Neither agree nor disagree
30.00%
6
–
Disagree
15.00%
3
–
Strongly disagree
0.00%
0
TOTAL 20
The Mobile Banking technology used by Musoni micro finance institution has facilitated
greater outreach to the people present in the rural areas of Kenya

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Answer Choices – Responses –
–
Strongly approve
20.00%
4
–
Approve
25.00%
5
–
Neither approve nor disapprove
5.00%
1
–
Disapprove
20.00%
4
–
Strongly disapprove
30.00%
6
Total Respondents: 20
The mobile banking technology in Kenya created better flexibility for the clients to
manage payments, transactions, deposits and account balance checking

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Answer Choices – Responses –
–
Strongly agree
15.00%
3
–
Agree
35.00%
7
–
Neither agree nor disagree
15.00%
3
–
Disagree
20.00%
4
–
Strongly disagree
15.00%
3
TOTAL 20

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The m-payment system has reduced time and cost while managing the financial services
at Musoni micro finance institution in Kenya
Answer Choices – Responses –
–
Very likely
5.26%
1
–
Likely
31.58%
6
–
Neither likely nor unlikely
15.79%
3
–
Unlikely
26.32%
5
–
Very unlikely
21.05%
4
TOTAL 19

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The financial inclusion for the unbanked with the use of Mobile Banking Technology is
one of the major causes of providing better financial security and extended customers’
services
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
20.00%
4
–
Neither agree nor disagree
10.00%
2
–
Disagree
15.00%
3
– 20.00%

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Answer Choices – Responses –
Strongly disagree 4
TOTAL 20
The Mobile banking technology may not be as much secure as the financial services
provided by the traditional banks in Kenya
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
25.00%
5
–
Neither agree nor disagree
5.00%
1
– 15.00%

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Answer Choices – Responses –
Disagree 3
–
Strongly disagree
20.00%
4
TOTAL 20
Reason for choosing the computerised statistical system
The main reason for selecting the computerised statistical system is to analyse the
data and information obtained and for interpreting those properly in the form of graphs, tables
and diagrams for easily understandable by the researcher. There is another statistical tool, i.e.,
the SPSS tool, which can also be used for the analysis and interpretation of data and
information (Mbiti & Weil, 2015). The Survey Monkey statistical tool has been used here for
the data analysis and it has been chosen because of its effectiveness in conducting surveys,
just as done here and it can also be used for free, which is a major factor that has influenced
its selection for the research.
Analysis and discussion of the recommended solutions
Based on the Financial Inclusion insights and various surveys, it was found that the
financial inclusion had been expensive when compared to other countries. Though there is
lack of increase in share of population who hold a registered financial account, there has been
lack of engagement with the financial services and banking transactions for the individuals,
due to the poor availability of physical banks in certain places of Kenya (Okiro & Ndungu,
2013). The micro finance institutions managed to integrate its business functions with the
Mobile banking technology with the application of a mobile banking app, which can create

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ease in reaching the unbanked, furthermore ensure the people in rural areas to access the
financials services with the use of mobile phones only.
Figure: Account access for the people in Kenya (Okiro & Ndungu, 2013)
The most effective solution to reach the unbanked has been the use of Mobil Banking
technology by the micro finance institutions in Kenya. This has not only created convenience
for the individuals to gain access to the financial services easily with the use of their mobile
phones by connecting with the help of internet. According to Baptista & Oliveira (2015), with
the advent of new technologies, mobile banking has been much easier, which has further led
to the success of mobile money among the consumers in Kenya and it is recorded as more
than 80 percent when compared to physical bank access, which has been recoded just around
40 percent (Baptista & Oliveira, 2015). More than 60 percent conquers are registered mobile
money account holders while the percent of registered bank accounts’ users is comparatively
low. With the use of Mobile Banking technology by the micro finance institution named
Musoni Microfinance Ltd, it has become possible for gaining better access to the mobile

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money points of services, which has further contributed to the successful achievement of
purposes aligned with the mobile banking system (Kikulwe, Fischer & Qaim¸2014).
The Mobile Banking technology should also help in creation of value for the
consumers and allowing them to acquire convenient and effective credit resources along with
other utilities associated with the savings in their individual accounts too. Few of the major
tools of Mobile banking system or technology are M-PESA, M-Shwari, M-COPA, etc. This
could be beneficial for meeting the demands and expectations of people wishing to gain
better access to credit and unbaked populations based on the financial services’ delivery.
Kirui et al. (2013) stated that in Kenya, the financial inclusions are quite lower among the
people in rural areas, women and those individuals who suffer from lower income (Kirui et
al., 2013). These people have also been subjected to lower levels of owning a mobile phone
and thus the ability to manage financial services and gaining access to those has been lacking
too. The Government should undertake measures and conduct promotional campaigns about
the mobile baking system with the use of mobile banking app and at the same time, enhance
the financial literacy among the people with lower level of income, women, furthermore
reach the unbanked with much ease and efficiency (Gupta, 2013).
Whether people belong from urban or rural areas, once they are able to handle the
smart phones, engaging in social networks is common nowadays. Musoni Micro finance Ltd
aims to integrate social media platforms with the business functions to ensure that the Mobile
banking technology brings in more clients and make them aware of the financial services
made available by the organisation. The financial services’ provision at an affordable cost has
benefited the people in the lower income segments of the community, which has also created
a positive impact on the growth and development of the economy of the nation (Reeves &
Sabharwal, 2013). The company implemented the Mobile banking technology with the

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introduction of a new smart phone that can help the clients to access the financial services
from anywhere and anytime, which further ensures global development and achievement of
goals associated with the Universal Financial Access by the end of 2020 (Nganga &
Mwachofi, 2013).
With the use of smart phones, made possible, by spreading knowledge among the
people from unbanked areas, the financial inclusion has been promoted, which also allowed
the micro finance institution to manage better mobility, availability of services 24*7 and thus
the socio-economic and geographic barriers have been overcome as well. The rise in mobile
based financial services has further helped in delivering sustainable value and this solution
has removed the barriers, thereby, helped in drawing enough profit in business (Vutsengwa &
Ngugi¸ 2013). The recommendation for the use of Information and Communication
Technology has also enabled increase in diffusion of mobile services, which has created
better mobility by allowing the users of smart phones to access the financial services in
Kenya, regardless of the location where they are present and not needing to visit the physical
banks, which can increase the cost and time for transportation (Mwando, 2013). Muiruri &
Ngari (2014) argued that the personalised communication channels have not only
strengthened the communication between the business and the unbanked, but also has made
them acquire knowledge and information about the financial services, furthermore allowed
Musoni Microfinance Ltd to reach the unbanked and beyond geographical boundaries too
(Muiruri & Ngari, 2014). Thus, the recommended solutions to the issues have been the use of
Mobile Banking Technology through implementation of ICT and by involving social media
platforms to ease down the access to information about the financial services, furthermore
expand the scopes for application of services with convenience too.

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Effective strategies needed to improve the present business situation
Considering the financial inclusion made by Musoni microfinance Ltd in Kenya, there
is need to implement various effective strategies for improving the current business situation,
furthermore, aim to keep the customers satisfied and maintain a steady revenue generation
and attain competitive advantage in business too. The marketing mix strategy demonstrates
the various products, prices of those, place of distribution of financial services and
promotions while the SWOT analysis demonstrates the strengths, weaknesses, opportunities
and threats of the business (Kithaka¸2014).
Marketing mix strategy
Product- As Musoni is a next generation micro finance institution, the company aims to
deliver financial services all over Kenya and now has aimed at reaching the unbanked, who
have limited or no access to financial services. Due to this, the financial inclusion for catering
their needs and make sure to keep them satisfied, furthermore, create convenience for them to
gain access to the financial services with ease by accessing their smart phones, without any
need to visit the physical banks, regardless of the physical and geographical barriers that may
be posed as threats. The micro finance institution mainly offers products and services such as
agricultural loans, educational loans, asset finance loans, individual loans as well as other
financial services to the people in Kenya (Asongu, 2015). The targeted market segment
comprises of the unbanked, which has been reached with the implementation of Mobile
Banking technology and to provide them with better access to the financial services offered
by Musoni Microfinance Ltd in Kenya. It has been cashless, paperless and data driven, which
has made tasks easier for delivering good quality financial services and deliver the best value,
flexible and customer oriented too. The mobile based banking transactions and payments are
done properly from anywhere and anytime, which also has saved a significant amount of cost
and time too.

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Price- The prices are affordable, because the company has aimed to reach the unbanked,
which assures that the low income people are the primary target here. With the help of cost
leadership strategy, Musoni Microfinance Ltd has set the right prices for the financial
services and ensured drawing in more people from the rural areas in Kenya to offer
unmatched services at a reasonable cost.
Place- The place means the areas where the products and services are distributed by the
micro finance institution. The financial services are delivered to people in Kenya through
management of physical banks whereas there are online services too, which has allowed the
unbaked to gain easy access to the financial services, thus ensure financial inclusion for
Musoni Microfinance Ltd in Kenya (Shaikh & Karjaluoto, 2015). The financial services are
distributed online as well as through management of social media platforms, which has
engaged more clients and helped the people from rural areas to access the services such more
easily and conveniently.
Promotions- The promotions are done through advertisements of services to make people
informed and knowledgeable about the kinds of services delivered, which has also 9mproved
the brand image, exposure and identity for catering the needs of people easily. To reach the
unbanked, the company made sure to create online campaigns through the use of social media
platforms and spreading knowledge among the people in rural areas, especially the women
and low income individuals about the importance of mobile money and mobile banking.
According to Bonface & Ambrose (2015), the social media engagement has further facilitated
the promotions while advertisements on televisions and newspapers furthermore helped in
enhancing the brand image and awareness among the customers in Kenya (Bonface &
Ambrose¸2015). With the management of these advertisements, Musoni Microfinance Ltd
managed to promote the business and aimed at achieving better outcomes through better

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options provided to the people for accessing the financial services, which ensured financial
services’ provision to reach the unbanked with appropriateness (Musoni.co.ke, 2019).
SWOT analysis
The SWOT analysis demonstrates the different kinds of strengths, weaknesses,
opportunities and threats faced by the company to improve the present situation and adapt
with the business environment to ensure successful business functioning.
Strengths
 Musoni Microfinance Ltd boosts of
a team or group consisting of
diversified Board of Directors, who
are skilled, knowledgeable and
experienced.
 Implementation of Information and
Communication technology and
Management Information system
integration
 Development, production and
delivery of innovative financial
services to reach the unbanked
 Provided enhanced ability to the
population in rural areas to access
the financials services easily (Van
der Boor, Oliveira & Veloso, 2014)
Weaknesses
 Lack of enough funding has been a
major weakness of the company to
stimulate the business functions and
processes
 There are many customers who have
lower income as well as low
transactions, which is a major
weakness of the company
 Limited reach to the unbanked and
people in rural areas due to the
geographical barriers and limitations
 Poor investments needed to
implement the Mobile Banking
technology properly
 Governance problems are common

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 Effective use of Mobile Banking
technology with the introduction of a
mobile banking app that has
facilitated accessibility to finical
services much more easily
 Good corporate governance policies
and frameworks
 Musoni Microfinance Ltd boosts of
a team that comprises of skilled,
experienced and certified
microfinance personnel who have
dedicated themselves towards the
achievement of business goals and
objectives.
Opportunities
 The implementation of Mobile
Banking technology has created ore
scopes and opportunities to reach the
unbanked, furthermore ensured
provision of financial services
 Moving towards a mobile money
ecosystem with the use of M-PESA
and other mobile payment systems
Threats
 The threats are posed by both
internal and external aspects among
which, the threats of competitors
within the banking industry
comprising of saccos and micro
finance institutions are common
(Mutsune, 2015)
 There are threats caused with the

25BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
have further enabled matching the
needs of clients with the skills and
capabilities possessed by the
organisation
 The e-money or mobile banking
system gas simplified the accounting
processes and created convenience
to handle and manage flow of cash
at Musoni Microfinance Ltd to reach
the unbanked in Kenya.
 The involvement of social media
platforms could also create
opportunities for the business to
enhance brand exposure,
furthermore targeted the unbanked
population and made sure to draw in
enough clients for generating high
revenue in business.
emergence of new and substitute
financial services similar to the
services offered by Musoni
Microfinance in Kenya
(Musoni.co.ke, 2019)
 The competitors have managed
financing at a much lower rate of
interest, which is a major threat as
well, faced by the company while
reaching the unbanked in Kenya
 The commercial banks running
microfinance bank as subsidiaries
have provided stiff competition,
thus, caused threats
 The corrupt business environment is
another major threat
Ethical considerations of research
Based on the research done for Musoni Microfinance Ltd in Kenya to reach the
unbanked, the ethical considerations are based on the core values managed by the
organisation such as the innovation aspect, integrity, excellence and customer focus. The

26BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
company has offered innovative and competitive financial services with the use of latest
technologies and by using data analytics integrated within the Mobile banking technology for
supporting the integrity, customer focus and delivering excellence. Musoni Microfinance Ltd
has done the right things with utmost honesty, respect and maintained high ethical standards
to remain customer focused and at the same time, made sure to align the services with the
needs of clients effectively (Muthiora, 2015). The delivery of good quality financial services
has further helped in the creation of value for the various stakeholders such as the employees,
customers, shareholders or investors and the managers of the organisation, thus, allowing to
maintain the ethical standards too. The corporate social responsibilities are managed by
Musoni Microfinance Ltd to benefit the community and at the same time, ensured delivering
financial services to the small holder farmers in Kenya and even the small entrepreneurs who
have limited or no access to the micro finance services. To contribute to the wellbeing of the
rural areas in Kenya, the financial services are supported by providing agricultural loans
which has facilitated agribusiness across multiple locations in Kenya (Aduda, Kiragu &
Ndwiga, 2013). The female small holder farmers have been benefited as well by managing
marketing campaigns to make them knowledgeable about the financial services, furthermore
aimed at training over 70,000 customers to make them gain easy access to the financial
services with ease and efficiency.
To fulfil the Corporate social responsibilities, the company has created marketing
campaigns and provided free education to the children of poor farmers in Kenya, which
facilitated acqusitions of knowledge and making them know about mobile banking, thus,
ensured provision of financial service all throughout Kenya. Not only this, but also to reduce
the environmental footprint, the company has managed services and functions by becoming
cash less and without using paper documents, which supported the company’s ability to
become environmentally responsible (Asongu, 2013). The company made sure to follow the

27BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Environmental laws and principles to manage environmental friendly practices and focus on
reduction of carbon footprint, thereby contribute to the health and wellbeing of the
community and environment. Anther effective CSR approach undertaken by Musoni
Microfinance Ltd could be the training and educational campaigns arranged for the unbanked
population group to enhance the financial literacy among them and to ensure that the new
customers in Kenya are financial included, making them prepare to access the financial
services in an easy way (Musoni.co.ke, 2019).
Recommendations
 To ensure management of successful Mobile Banking Technology, it is recommended
to enable Mobile Money that can offer better financial access and use cases. This
could not only help in managing an effective gateway to better services’ delivery
including credit management and savings along with the establishment of link with
the mobile money accounts of the users in Kenya.
 The development mobile money platforms with the use of ICT and by engaging social
media platforms are recommended as well for catering to the changing needs of
customers. This should be possible with the help of implementing a Mobile Virtual
Network Operator that can enable the unbanked population to reach out to the
financials services by just using a mobile based platform on their smart phones.
 The analysis of FII data and information is recommended for further interpretation
and determine the various aspects by which, the mobile money user experience can be
improved to a large extent
 The unbanked group of people must be provided with identity cards to resolve the
gaps experienced while engaging with the financial services, furthermore could make
them knowledgeable about recognition and gaining information about managing the
financials services offered by Musoni Microfinance Ltd in Kenya

28BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
 Last but not the least, an important recommendation could be to enhance the financial
literacy and knowledge of people in Kenya for managing financial inclusion and reach
the unbanked, who could get better accessibility to the financial services
conveniently.
Conclusion
From the report, it was understood that the issue here had been the lack of
accessibility to financial services by the unbanked group of population and also the people
with lower level of income in Kenya. The topic focused on resolving this issue with the
management of Mobile Banking Technology to ensure that financial inclusion could be
possible and betters services should be delivered to them. This would also make them gain
access to financial services with much ease, furthermore use their mobile phones to access
the services, rather than needing to visit the physical banks. The analysis of findings based on
the survey process was don, which showed that the mobile banking technology should not
only create better accessibility options to financial services for the customers, but would also
extend its outreach to the unbanked much more conveniently, thereby generate higher
revenue in business for Musoni Microfinance Ltd. in Kenya. Though the country progressed
in terms of financial inclusions and introduced new banking apps to facilitate the Mobile
banking technology and make customers more engaged with the financial services, still
recommendations had been provided to boost the financial literacy among the people and
unbanked population, furthermore make them aware of smart phone ownership and establish
good relationships between the micro finance institutions and large banks with
appropriateness.

29BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
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Appendices
The use of Mobile Banking technology has improved the performance of saccos and
micro finance institutions in Kenya
Answer Choices – Responses –
–
Strongly agree
50.00%
10
–
Agree
30.00%
6
–
Neither agree nor disagree
5.00%
1
–
Disagree
5.00%
1
–
Strongly disagree
10.00%
2

34BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
TOTAL 20
The Mobile Banking technology involving use of smart cards and mobile phones has
created convenience for the unbanked in Kenya
Answer Choices – Responses –
–
Strongly agree
25.00%
5
–
Agree
30.00%
6
–
Neither agree nor disagree
5.00%
1
–
Disagree
25.00%
5

35BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
–
Strongly disagree
15.00%
3
Total Respondents: 20
The low income individuals who do not have access to the physical banks are benefited
the most
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
20.00%
4
–
Neither agree nor disagree
15.00%
3

36BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
–
Disagree
10.00%
2
–
Strongly disagree
20.00%
4
Total Respondents: 20
Musoni microfinance institution in Kenya has successfully managed to implement the
Mobile Banking technology to create better accessibility to financial services for the
unbanked in Kenya
Answer Choices – Responses –
–
Strongly approve
15.00%
3
– 35.00%

37BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
Approve 7
–
Neither approve nor disapprove
15.00%
3
–
Disapprove
25.00%
5
–
Strongly disapprove
10.00%
2
TOTAL 20
The use of cell phones have created promising scopes and opportunities for synergies
between mobile banking technology and micro finance
Answer Choices – Responses –
– 10.00%

38BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
Strongly agree 2
–
Agree
45.00%
9
–
Neither agree nor disagree
30.00%
6
–
Disagree
15.00%
3
–
Strongly disagree
0.00%
0
TOTAL 20
The Mobile Banking technology used by Musoni micro finance institution has facilitated
greater outreach to the people present in the rural areas of Kenya

39BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
–
Strongly approve
20.00%
4
–
Approve
25.00%
5
–
Neither approve nor disapprove
5.00%
1
–
Disapprove
20.00%
4
–
Strongly disapprove
30.00%
6
Total Respondents: 20
The mobile banking technology in Kenya created better flexibility for the clients to
manage payments, transactions, deposits and account balance checking

40BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
–
Strongly agree
15.00%
3
–
Agree
35.00%
7
–
Neither agree nor disagree
15.00%
3
–
Disagree
20.00%
4
–
Strongly disagree
15.00%
3
TOTAL 20

41BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
The m-payment system has reduced time and cost while managing the financial services
at Musoni micro finance institution in Kenya
Answer Choices – Responses –
–
Very likely
5.26%
1
–
Likely
31.58%
6
–
Neither likely nor unlikely
15.79%
3
–
Unlikely
26.32%
5
–
Very unlikely
21.05%
4
TOTAL 19

42BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
The financial inclusion for the unbanked with the use of Mobile Banking Technology is
one of the major causes of providing better financial security and extended customers’
services
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
20.00%
4
–
Neither agree nor disagree
10.00%
2
–
Disagree
15.00%
3
– 20.00%

43BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
Strongly disagree 4
TOTAL 20
The Mobile banking technology may not be as much secure as the financial services
provided by the traditional banks in Kenya
Answer Choices – Responses –
–
Strongly agree
35.00%
7
–
Agree
25.00%
5
–
Neither agree nor disagree
5.00%
1
– 15.00%

44BUSINESS RESEARCH METHOD RESEARCH PROPOSAL
Answer Choices – Responses –
Disagree 3
–
Strongly disagree
20.00%
4
TOTAL 20