Effect of Financial Access and Technology Adoption on the Performance of Family Owned Matatu Businesses in Nairobi; Kenya
Keywords:
Financial access, Technology adoption, Performance, Family-owned and Matatu sectorAbstract
Matatus are the informal industry in Kenya that provide service to millions of people each day and are essentially the backbone of the transportation system in Kenya. It account for an estimated 80% of the total public transport in the country. Nevertheless, there is lack of proper management skills by the owners especially in the family owned Matatu business, total failure by the regulatory authorities in properly playing their part, and excessive interference by various tertiary unauthorized groups are some of the features manifested in the public transport sector in the country. Premised on these phenomenon, the study established the effect of financial access and technology adoption on the financial performance of family owned Matatu business in Nairobi Kenya. The study employed descriptive research design. The target population of the study included of 7000 Matatu owners in Nairobi and a sample size of 364 registered Matatu owners were selected using random sampling method. Questionnaires were used to collect data that was analyzed using descriptive and inferential statistics. A multiple linear regression analysis model was used to determine the relationship between financial access, technology adoption and the financial performance of family owned Matatu business. Findings indicated that financial access and technology adoption had a positive and significant effect on the performance of family owned Matatu Business in Nairobi. The study concluded that financial access and technology adoption were a decisive field within the environment of the Matatu business.
Keywords: Financial access, Technology adoption, Performance, Family-owned and Matatu sector
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