Mobile Money Usage and Growth of Customers‟ Deposits in Commercial Banks in Kakoba Division, Mbarara Municipality

Abstract

The study established the effect of Mobile money usage on growth of customers’ deposits in commercial banks. The study was guided by four objectives; establishing the mobile money operating cycle, whether mobile money operators have bank accounts for their mobile money businesses, trend of growth of customers’ deposits in commercial banks and relationship between mobile money usage and the growth of customers’ deposits in commercial banks. The study used a cross sectional research design while collecting data, quantitative and qualitative approaches were used. The study used simple random and stratified sampling methods, while the questionnaire and interview guide were used to collect the data from different respondents, correlation matrix was run in order to establish the relationship between the variables.