African Journal of Swahili Studies (Kiswahili) | 06 July 2007
Effectiveness of Mobile Money Platforms in Alleviating Poverty within Nigerian Informal Markets: A Financial Inclusion Assessment Over Two Years
J, a, m, e, s, O, g, u, n, l, a, n, a, ,, C, h, i, n, e, l, o, U, z, o, m, a, ,, O, p, e, o, l, u, w, a, A, d, e, k, u, n, l, e
Abstract
Mobile money platforms have gained prominence in alleviating poverty within informal markets globally, including Nigeria. A mixed-methods approach combining quantitative surveys with qualitative interviews to evaluate platform usage and impact on poverty levels and financial inclusion metrics. Mobile money usage increased by 25% among surveyed households, leading to a 10% reduction in reported poverty severity over two years. Mobile money platforms significantly contribute to reducing poverty within Nigerian informal markets through enhanced financial access and stability. Policy makers should incentivize mobile service providers for expanding coverage and accessibility in underserved areas.