Agent liquidity: A catalyst for mobile money banking among the unbanked poor population in rural sub-Saharan Africa

Figures & data

Figure 1. Proposed conceptual model for the study.

Source: Author(s) own illustration

Table 1. Reliability and validity

Variables	No. of items	(α)	CR	AVE
Mobile money services	20	0.825	0.806	0.751***
Agent liquidity	8	0.866	0.778	0.639**
Financial inclusion	19	0.742	0.794	0.833***

***p < 0.001; **p < 0.05;

Legends:Cronbach Alpha - (α); Composite reliability—CR; Average variance extracted—AVE

Table 2. Discriminant validity

Variables	Mobile money services	Agent liquidity	Financial inclusion
Mobile money services	0.799***
Agent liquidity	0.087**	0.742***
Financial inclusion	0.103**	0.472***	0.702***

***p < 0.001; **p < 0.05

Figure 2. Measurement model for mobile money services.

Table 3. Correlation analysis

Variables	Mobile money services	Agent liquidity	Financial inclusion
Mobile money services	1
Agent liquidity	0.108*	1
Financial inclusion	0.312**	0.100**	1

**Correlation is significant at the 0.01 level (2-tailed).

*Correlation is significant at the 0.05 level (2-tailed).

Figure 3. Measurement model for agent liquidity.

Figure 4. Measurement model for financial inclusion.

Figure 5. Non-moderated structural equation model without interaction term.

Figure 6. Moderated structural equation model with interaction term.

Table 4. Results of testing indirect and direct hypotheses

Hypothesized Coefficient	Estimate	S.E	t-value	p-value	95%UL	95%LL
MoBMon➔AL➔FI	0.472***	0.033	2.755	0.000	0.034	0.140
MoBMon➔FI	0.508***	0.022	3.181	0.000	0.422	0.593
AL➔FI	0.340**	0.024	2.689	0.049	0.073	0.119

***p < 0.001; **p < 0.005

Legends: MoBMon—Mobile money; FI—Financial inclusion; AL—Agent liquidity

Figure 7. ModGraph for the interaction effect of agent liquidity.