This study identified the customers’ perceptions on the contribution of mobile
banking on business growth. The study used different research objectives as to find
out SMEs perceptions on facilitation conditions of NMB Mobile banking services, to
find out SMEs perceptions on challenges facing NMB Mobile banking and to
analyze SMEs perceptions on the contribution of NMB Mobile banking on business
growth. In this study, a researcher collected data from 125 SMEs and 50 NMB
Employees from department of commercial, Customer Services. IT and back office;
making total sample size equals to 175 respondents, using questionnaires and
document analysis techniques. The data was analyzed using percentages and
frequency distribution and content analysis.
The study findings conclude that, Mobile Banking is an important component of
financial development, including opportunities for banking to population in rural
areas. Indeed, evidence from this study has shown that more than half population
perceived NMB Mobile banking to have improved business growth, increased sales,
increased profitability, increased customer base, lower transaction costs and lower
income inequality. In addition to facilitating business growth, Mobile banking helped
individuals smooth their income, transfer funds, and broaden investment
opportunities. Testimonies have been evidenced in promoting individuals fund
transfer, reduced long queue in banking hall, saved individual time and money,
facilitated trade and commerce and improved individual accessibility to different
banking product and services.
Despite this positive contribution, Contribution of NMB Mobile banking on business
growth is hindered by low population that own mobile phones, inadequate awareness
on facilitating conditions of NMB mobile banking, high transaction costs of mobile
banking, inadequate education on how to use NMB Mobile banking.
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Therefore the most important factor for prosperous future of contribution of NMB
Mobile banking on business growth is honest and mutual concern for all those
involved to serious finance development and application of NMB Mobile banking
products and services.
It is recommended that NMB Bank should improve facilitating conditions of NMB
Mobile banking by lowering transaction costs that help to facilitate the growth of
client businesses, increasing education awareness campaign on product and services
provided by NMB Mobile banking to the public to make them aware on the facility,
offering training and couching their clients on entrepreneurship and business
management skills, minimizing risks associated with NMB Mobile banking by
improving security handling, password hijacking and fraudulent acts from
irresponsible staff, be flexible and offer favorable terms and conditions. Also, the
recommendation was made to the SMES and business community avoiding sharing
of password to improve security, enrolling with NMB Mobile banking product and
services, formalization of property rights and documentation and protect their
password