Mobile money, financial inclusion and poverty: key results from two new surveys in Ghana

We investigate mobile money adoption, and how it affected household behaviour and financial inclusion in Ghana. We first provide an overview of mobile phone and mobile money development in Ghana. Then we present results of two household surveys carried out in 2017 and 2019 and conducted in all regions of Ghana, each survey covering 1000 households. In 2019 more than 90% reported that they use mobile money reflecting its widespread adoption in Ghana by that time. Different socio-economic characteristics are important in the take-up and use of mobile money. Mobile money users tend to make greater use of formal financial services than non-users and may therefore be more financially included. Mobile money is used for a range of transactions especially remittances, but also payments for goods and services, including financial services and savings. Mobile money may also impact social networks insofar as face-to-face meetings may be replaced by mobile phone interactions.