Abstract:
This study examined the Factors influencing M money growth among small Business in Iringa
Municipality, Tanzania. The specific objectives
of this study were to identify factors influencing
growth of M-money in small business; identify
the benefits of the growth of M-money to the
people and to determine the advantage of
growth of M-money in economic issues. Data
were collected through questionnaire,
unstructured interview and observations. The
Statistical Package for Social Science (SPSS)
version 20 was used for data analysis. The study
shows that about 97.5% of 120 people they use
M-money Service and only 2.5% of 120 do not
use the service frequently. This entail that a
large group of people in Iringa Municipality use
M-money Service as compared to those who do
not. The results further shows that 96% the M money service help to increase the capital of the
people in the Municipality, followed by 94% of
the benefits is for helping parents with different
family problem.
The rapid expansion of cell phone usage in
Iringa has been triggered by a highly competitive market and service diversification,
with the operators now providing different cell
phone services including M-money Service
which in turn provides Socio-economic impact
to the people around. According to the study
about 98% of the respondents the M-money
service benefits the socially and economically.
M-money service gives people different
opportunities , About 99% of the respondents
said the service gives them opportunity as an
employment which enables them to pay tax and
school fees to their children. Furthermore, with
the m-money service due to provision of tax in
the business are enables the development of
towns and municipality. The study shows that
about 100% the M-money service enables the
development of towns and centers. The only
challenge that hinder is the availability of
mobile phone networks, in some cases the
network coverage limit the provision of the
service especially due to expansion of the
Municipality.
