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Analyzing Factors Influencing the Adoption of Mobile Banking Services at Natsave Bank in Lufwanyama District of Zambia

Author

Listed:
  • Mutale Bwalya

    (University of Zambia, Graduate School of Business)

  • Dr. John Machayi

    (University of Zambia, Graduate School of Business)

  • Chilyata Kabwalwa

    (Institute of Distance Education, University of Zambia)

Abstract

This study investigates the factors that influence mobile banking adoption at NATSAVE Bank in Lufwanyama District, Zambia which is a rural area with only 38% internet penetration and low digital literacy. Using a mixed-methods design, the study applied logistic regression and thematic analysis to data from 117 participants. Findings reveal that although 90% of customers are registered for mobile banking, only 30% actively use the platform, signaling a significant adoption gap. Adoption was significantly influenced by trust, cost perception, and network reliability. The study builds on the Technology Acceptance Model (TAM) and Unified Theory of Acceptance and Use of Technology (UTAUT), linking empirical findings to key theoretical constructs like perceived usefulness, ease of use, and social influence. It fills a gap in literature that often neglects rural-specific adoption barriers such as cultural resistance, infrastructural limitations, and competitive pressure from mobile network operators. By proposing actionable strategies like expanding agent networks, introducing tiered pricing, and enhancing digital literacy, this research contributes both theoretically and practically to Zambia’s financial inclusion agenda.

Suggested Citation

  • Mutale Bwalya & Dr. John Machayi & Chilyata Kabwalwa, 2025. "Analyzing Factors Influencing the Adoption of Mobile Banking Services at Natsave Bank in Lufwanyama District of Zambia," East African Finance Journal, East African Finance Journal, vol. 4(2).
    • Handle: RePEc:cwk:eafjke:2025-18
    DOI: 10.59413/eafj/v4.i2.7
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    References listed on IDEAS

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    1. William Jack & Tavneet Suri, 2014. "Risk Sharing and Transactions Costs: Evidence from Kenya's Mobile Money Revolution," American Economic Review, American Economic Association, vol. 104(1), pages 183-223, January.
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