FINTECH ADOPTION AND FINANCIAL INCLUSION AMONG THE SMALL AND MEDIUM ENTERPRISES IN MUKONO DISTRICT
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Date
2025-05-12
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UGANDA CHRISTIAN UNIVERSITY
Abstract
The study examined the effect of Fintech adoption on financial inclusion among the small and
medium enterprises in Mukono District. It specifically focused on; identifying the key drivers of
fintech adoption and financial inclusion among small and medium enterprises in Mukono,
examining the challenges faced during fintech adoption and financial inclusion among small and
medium enterprises in Mukono, and examining the opportunities and benefits of fintech adoption
among and financial inclusion among small and medium enterprises in Mukono district local
government.
The study was carried out using a cross sectional survey research design where quantitative
research approach was also used. The data was collected using questionnaires and during the
data collection, simple random sampling method was used. A sample size of 80 respondents who
are owners or managers of the selected SMEs in Kauga, Mukonowas also used in the study.
From the findings, it was revealed that even though FinTech uptake and financial inclusion offer
Mukono District SMEs enormous benefits such as enhanced credit access, business efficiency,
greater market reach, and enhanced management of funds, their full potential is hindered by
immense challenges such as poor internet connection, insufficient digital literacy, high-priced
services, and poor customer care. The evidence points to the fact that FinTech uptake is
extremely reliant on access to technology, the cost of access, regulatory support, and simplicity
of platforms. Therefore, in order to unlock the transformative potential of FinTech for SME
development, there is a pressing need for interventions that are aimed at improving digital
infrastructure, enhancing user education, reducing the cost of services, and enhancing system
integration and trust in digital financial systems.
Finally, the study recommended the need for expanding internet infrastructure in Mukono
District to improve connectivity for SMEs, enhancing digital literacy through targeted training
programs, and encouraging FinTech providers to implement affordable pricing models. It also
emphasizes the need for robust customer support systems to build user trust and recommends
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that policymakers promote regulatory frameworks that support interoperability between FinTech
and traditional banking systems to foster inclusive and efficient financial access for SMEs.
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