Browsing by Author "Nyokwoyo, Douglas Ouso"

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    Financial Technology and Financial Inclusion among Youth Operating Businesses in Central Business District Nairobi City County, Kenya
    (IJRISS, 2023-12) Nyokwoyo, Douglas Ouso; Musau, Salome; Kosgei, Margret
    Financial inclusion is the cornerstone of savings and investment initiatives among. Youth who are financially included have greater access to credit from financial institutions and can create and expand investment opportunities. In addition, the inclusion of youth in financial systems improves access to financial education and planning, which increases employment opportunities and ensures that previously marginalized and alienated youth are reintegrated into the economy. The purpose of this study was to evaluate the effect of financial technology on the financial inclusion of youth owned businesses in Nairobi’s central business district. The researcher targeted a large population of approximately 32100 youth owned business enterprises in the central business district of Nairobi. Convenient sampling was used to select 500 respondents aged between 20 and 35 years, per the definition of youth by the Department of youth affairs. The researcher employed a descriptive research methodology. Using open-ended questionnaire, primary data was collected. The research discovered that the utilization of mobile phones, access to the internet, and the provision of agency services have a noteworthy impact on enhancing the financial inclusion of young individuals. The research findings suggest that the achievement of financial inclusivity for enhancing the participation of young individuals in economic frameworks is facilitated by the utilization of cellular devices, the utilization of online technology, the utilization of services through intermediaries, and the acquisition of financial literacy. Therefore, the formulation of strategies aimed at enhancing financial inclusivity among the youth in the central business district of Nairobi should prioritize the enlargement of entry and amplification of financial technology solutions.
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    Technology Adoption and Financial Inclusion among Youth Operated Businesses in Nairobi City County, Kenya
    (Kenyatta University, 2024-09) Nyokwoyo, Douglas Ouso
    Financial inclusion is the cornerstone of savings and investment initiatives among the youth .When many people are financially included, they possess greater access to credit from financial institutions and can create and expand investment opportunities. In addition, the inclusion of youth in financial systems can improve access to financial education and planning, which increases employment opportunities and ensures that previously marginalized and alienated youth are reintegrated into the economy. The purpose of this study was to evaluate the effect of financial technology and literacy on the financial inclusion of youth owned businesses in Nairobi's central business district. Specifically, the study aimed to determine the effect of mobile phone usage, internet usage, agency services, and credit information sharing and test moderation effect of financial literacy. The study was founded on the theories of asymmetry, agency, and financial growth. The researcher targeted a large population of approximately 32100 youth operated business enterprises in Nairobi County, Kenya. Slovin’s formulae was used to select 500 respondents aged between 20 and 35 years, per the definition of youth by the Department of youth affairs. The researcher employed a descriptive research methodology. Using open-ended questionnaires, primary information was collected. The researcher conducted an initial inquiry to evaluate the dependability of the research instrument with the objective of determining the instrument's viability. The data analysis procedure was enhanced by employing (SPSS) version 23.0. The findings were presented using diagrams, charts, and tables. The research discovered that the utilization of mobile phones, access to the internet, and the provision of agency services have a noteworthy impact on enhancing the financial inclusion of young individuals. Conversely, the sharing of credit information does not exhibit a substantial influence on the aforementioned outcome. Moreover, the mediating impact of financial literacy was also statistically insignificant. The research findings suggest that the achievement of financial inclusivity for enhancing the participation of young individuals in economic frameworks is facilitated by the utilization of cellular devices, the utilization of online technology, the utilization of services through intermediaries, and the acquisition of financial literacy. Therefore, the formulation of strategies aimed at enhancing financial inclusivity among the youth in Nairobi should prioritize the enlargement of entry and amplification of financial technology solutions.