Digital Financial Payment systems and Financial Inclusion: A study on Youth in the Rwenzori Region, Western Uganda
DOI:
https://doi.org/10.47672/ajf.2816Keywords:
Financial Inclusion, Digital Finance, Financial Services, Youth, Rwenzori RegionAbstract
Purpose: Digital payment systems constitute an important dimension in regard to building an inclusive financial system in an economy. However, in spite of its significance, literature has offered little evidence on the extent to which digital payment systems contribute to financial inclusion. This study investigates the contribution of digital payment systems on financial inclusion among the youth in Rwenzori region.
Originality: Youth involuntary financial exclusion, and the imperative for government and financial service providers to attend to youth financial needs, was examined in relation to digital financial systems in a developing country setting.
Materials and Methods: A convergent parallel mixed-methods approach in line with assumptions of the critical realism philosophy was adopted in this study. Data from 186 youth council members for the quantitative design and 11 CEOs of selected Banks and MFIs were analyzed by regression.
Findings: Results indicate a positive relationship between digital payment systems and financial inclusion among the youth in Rwenzori region.
Unique Contribution to Theory, Practice and Policy: This study contributes to financial inclusion literature; Showcasing the relevance of digital payment systems on youth participation in the monetary economy, Reminds the government to revise existing financial frameworks to consider youth in the national financial planning since this has riffle effects on business growth, revenue collection capacity and GDP of Uganda and, Commercial banks and other financial institutions appreciate the need to have youth-focused programs not only for economic benefit but for social entrepreneurship reasons.
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Copyright (c) 2025 Moses Akugizibwe, Dr Pereez Nimusima, Dr Bernard Wakabi Muhangi, Robert Kisembo
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