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Abstract

Social networks play a vital role in generating social learning and information exchange that can drive the diffusion of new financial innovations. This is particularly relevant for developing countries where education, extension and financial information services are underprovided. This article identifies the effect of social networks on the adoption of mobile money by households in Uganda. Using data from a household survey, conditional logistic regression is estimated controlling for correlated effects and other information sources. Results show that mobile money adoption is positively influenced by the size of social network members exchanging information, and the effect is more pronounced for non-poor households. The structure of social network however has no effect. The findings show that information exchange through social networks is crucial for adoption of mobile money. Mobile money adoption is likely to be enhanced if promotion programs reach more social networks.

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