Mobile Payment Services and Financial Inclusion: Evidence from Mobile-Money Agents in Muganza Sector, Nyaruguru District, Rwanda

Uwase Nkusi Diana
University of Kigali, Rwanda
Email: uwase.amoura@gmail.com

Abstract: Rwanda reports high headline financial inclusion (96% of adults in 2024), yet rural disparities persist; Nyaruguru District records 10% financial exclusion, more than twice the national rate of 4%. This study examined the effect of four mobile-payment-service dimensions—money-transfer services, deposit-and-withdrawal services, payment-service efficiency, and mobile-banking services—on financial inclusion among mobile-money agents in Muganza Sector, Nyaruguru District. A quantitative explanatory, cross-sectional design was adopted. From a validated population of 450 active registered mobile-money agents, 212 were selected by simple random sampling using Yamane’s formula and surveyed with a structured five-point Likert questionnaire. Data were analysed using descriptive statistics, Cronbach’s alpha, Pearson correlation, and multiple linear regression, with multicollinearity assessed through the variance inflation factor. All constructs were reliable (alpha = 0.843–0.905). The four dimensions correlated positively and significantly with financial inclusion (r = 0.479–0.533) and jointly explained 53.4% of its variance (adjusted R-squared = 0.534; F(4, 207) = 61.51, p < .001). Mobile-banking services had the strongest effect despite the lowest ratings, and all four null hypotheses were rejected. The study recommends improving agent float, strengthening payment reliability, and promoting underused mobile-banking products.