Mobile money: a gateway to achieving financial inclusion in Ghana

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dc.contributor.authorKodom, M.
dc.contributor.authorSteel, W.F.
dc.contributor.authorAckah, C.
dc.contributor.authorBokpin, G.A.
dc.date.accessioned2024-06-06T10:53:55Z
dc.date.available2024-06-06T10:53:55Z
dc.date.issued2022
dc.descriptionResearch Articleen_US
dc.description.abstractWhile emerging studies on mobile financial inclusion have focused on the factors driving the adoption of mobile money, little evidence exists on how the service is facilitating the use of formal financial services. Using the World Bank Findex data, we estimate the effect of mobile money adoption on the use of formal accounts, savings, and credit in Ghana. The results of the recursive bivariate probit analysis showed a significant symbiotic relationship between mobile money adoption and the probability of operating a formal account. Mobile money adoption has a positive effect on savings and access to credit but does not affect the avenues to savings and obtaining credit, respectively. Mobile money users save in their wallet and obtain microcredit through the mobile money platform but not through formal channels. These findings reinforce the hypothesis that mobile money is the surest financial tool for achieving universal financial inclusion in developing countries.en_US
dc.identifier.otherhttp://doi.org/10.3362/1755-1986.22-00011
dc.identifier.urihttp://ugspace.ug.edu.gh:8080/handle/123456789/42151
dc.language.isoenen_US
dc.publisherEnterprise Development and Microfinanceen_US
dc.subjectmobile moneyen_US
dc.subjectfinancial inclusionen_US
dc.subjectsavingsen_US
dc.titleMobile money: a gateway to achieving financial inclusion in Ghanaen_US
dc.typeArticleen_US

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