“Banking the Unbanked”: Is Financial Inclusion Powered by Ecocash a Veracity in Rural Zimbabwe?

Abstract

There has been an increase in the uptake of mobile phones in the Sub-Saharan Africa and this has laid a foundation for the revolution of mobile money transfer systems. Empirical and theoretical literature has proved that mobile money transfers are a significant promoter of financial inclusion. This paper sought to investigate whether the mobile money transfer platform in Zimbabwe, EcoCash has managed to foster financial inclusion in the rural areas. Through a cross sectional study of the study population, results showed that there is an increase in the access to financial services hence improved financial inclusion. The study was carried out in Chivi District.