Exploring factors affecting the adoption of financial technology services: A case study of Tukondjeni Open Market
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Date
2025
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University of Namibia
Abstract
The study focused on exploring factors affecting adoption of financial technology
services: a case study of Tukondjeni Open Market. The study employed a
constructivist paradigm with an exploratory and case study research design under
qualitative approach. The target population for the study was a total of 181 respondents
who were Tukondjeni Open Market traders. The study employed purposive sampling,
as such the study conveniently interviewed 20 participants for the study’s final sample
size. To address the current study’s objectives, open-ended interviews were used. The
data were analyzed using thematic analysis. Thematic analysis revealed that the key
enablers include the perceived convenience and efficiency of FinTech services,
alongside their potential for enhancing transaction safety. However, these positive
aspects are counterbalanced by significant barriers, such as security concerns,
particularly fears of fraud and scams, technological and infrastructural limitations, and
the lack of awareness and understanding about these services among traders.
Educational challenges and the compatibility of FinTech solutions with diverse
business models also emerged as critical factors. The findings suggest that while there
is an apparent readiness and interest among traders to adopt FinTech services, their
effective uptake is hindered by a combination of infrastructural, educational, and
security-related challenges. Addressing these barriers could significantly enhance the
adoption and utility of FinTech services in such informal market settings
Description
A thesis submitted in partial fulfillment of the requirements for the Degree of Master of Science in Development Finance
Keywords
Tukondjeni Open Market, Financial technology, FinTech services, Namibia, University of Namibia