Table 3 Predictors of time to mobile money adoption (logit models)

Urban

1.654027***

0.289995

1.689582***

0.277129

Male

1.200942

0.177761

1.192877

0.153274

Age group. Ref = 29–36 years

 36–65 years

1.810187***

0.304626

1.688651***

0.263172

 66+ years

1.614212*

0.460444

1.506504

0.396968

Level of education. Ref = Primary education

 Secondary education

1.366478*

0.258112

1.428403**

0.245464

 Tertiary education

2.800618***

0.665069

3.069573***

0.698948

Financial planning. Ref = did not plan/budget

 Planned/budgeted accurately

1.141271

0.282025

1.500678*

0.351119

 Neither planned/budgeted accurately nor inaccurately

0.820023

0.226542

1.185935

0.306308

 Planned/budgeted inaccurately

1.243034

0.313698

1.455843

0.34857

Source of income. Ref = Unemployed/Student/Stay at home

 Formally Employed in Private or Government

0.978434

0.197598

0.964026

0.186247

 Informally Employed in Private or Government

1.123575

0.30321

0.86308

0.225593

 Self-Employed Formally

1.565945

0.618707

1.838837

0.702637

 Self-Employed Informally

0.98497

0.175167

1.138236

0.184824

Income Ref: < 200

 201–500

1.388613

0.261827

1.107509

0.203957

 501-max

1.036669

0.173436

0.9357151

0.148135

Banked

3.071106***

0.530262

2.987422***

0.459438

Mobile money outlet. Ref = More than 60 min/ No infrastructure

 Less than 30 min

1.533187**

0.275763

1.695163***

0.286199

 Between 31 and 60 min

0.92388

0.197816

1.297991

0.246875

Belong to an informal group (savings, burial society etc.)

1.188104

0.205196

1.143771

0.187051

Real GDP Growth

1.461446***

0.035614

1.443245***

0.043671

AUC

0.8453

0.8593

Pseudo R Squared

0.1559

0.1636

Sample (n)

1800

1800