Mobile Banking Adoption and Its Impact on Financial Literacy Among Senegalese Youth in Uganda

The adoption of mobile banking among youth in developing countries has been a topic of interest due to its potential impact on financial literacy and economic empowerment. The research employs a cross-sectional survey design, utilising structured interviews and questionnaires to collect data from a sample population representative of Senegalese youth residing in Uganda. Mobile banking adoption among the sampled youth showed significant variation with approximately 25% reporting active use within six months. Financial literacy scores were found to be correlated with mobile banking engagement, suggesting a positive correlation between usage and understanding of financial concepts. The preliminary findings suggest that while mobile banking adoption rates are modest, there is a notable association between its use and improved financial literacy among Senegalese youth in Uganda. Further longitudinal studies should be conducted to establish causality and explore the long-term implications of mobile banking usage on financial education and economic stability among this demographic.