Evans Kirui*, Perez O. Onono and Joseph M. Muniu
The objective of this study was to establish the determinants of utilization of mobile money services by micro and small enterprises in Kenya. In the study, 2016 Micro, Small and Medium Enterprises establishment data set by Kenya National Bureau of Statistics was used. To establish the determinants of utilization of mobile money services by firms in Kenya, heteroskedastic probit model was estimated. The results of the study indicated that group membership, gender, credit access, education, mobile phone ownership, radio ownership, registration of business, number of business units and total number of employees determined utilization of mobile money services. The study recommended the need for the government through the regulatory authorities and mobile money services providers to design supportive policies that would scale up the utilization of mobile money services to more financially excluded MSEs in Kenya, specifically through addressing the infrastructural constraints in rural areas, outreach services, and other incentives that would encourage more uptakes of mobile money services
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