Abstract: The African Court on Human and Peoples’ Rights handles hundreds of financial transactions from payments made to it or from it for services rendered, consumed, consultancies, routine activities, and taxes. The sheer volume and variety of payments must contend with, coupled with a heightened focus on service delivery, transparency, security, and compliance has made the African court payments domain truly unique hence the need for e-payments through the internet banking system. Although the court has made efforts towards realizing an integrated cashless payment system, very little gains have been achieved due to very low uptake of the e-payments platforms provided. The purpose of the study was to examine the effect of internet banking adoption on efficiency of financial management at the African Court. The study covered a representative sample of 34 respondents out of a target population 40 employees of the African Court in Arusha, Tanzania. The study adopted an explanatory research design which aided in establishing and explaining the relationship between adoption of internet banking and financial management efficiency at the African Court. The collection of data was conducted using a survey questionnaire which was directly administered to the respondents at their work places. The study used both descriptive and inferential statistical tools to analyse the collected data. The study revealed that perceived benefits of internet banking, ease of use and security were the key factors responsible for adoption of internet banking at the African Court; with an overall mean score of 3.73 out of 5. Further, respondents were of the view that internet banking is a means to improve financial management efficiency as scores on all the items under study ranged between 3.4 and 4.9 mean scores with an overall mean score of 3.86. In particular, the respondents were of the opinion that using internet banking is a pleasant idea, it is trustworthy, and benefits in effective decision making. It was also observed that E-banking is more convenient, safe, and does not require a lot of mental effort and learning. On the effect of internet banking on financial management efficiency, all respondents generally agreed that internet banking enhances efficiency of financial performance with an overall mean score of 3.94. In an effort to determine the relationship between adoption of internet banking and financial management operations efficiency, the study tested a hypothesis which stated that Internet banking has no significant influence on financial management operations efficiency at the African Court using correlation analysis resulting in a correlation coefficient of .783 denoting a high and positive relationship between the adoption of internet banking and efficiency of financial operations at the African Court. The study concludes that the adoption of internet banking is very instrumental in improving financial management efficiency. Therefore, the management of the African Court should on a continuous create awareness and invest more resources to achieve full and effective adoption of internet banking in the entire organization. This should be achieved through more budget allocation for capacity building and infrastructural development.
Key terms: Internet Banking, Financial Transaction, Globalization, Financial Management Efficiency.
Title: EFFECT OF INTERNET BANKING ON FINANCIAL MANAGEMENT EFFICIENCY AT AFRICAN COURT IN ARUSHA, TANZANIA
Author: KIPTURU LOPUNEI, Dr David A. O. Aunga
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
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