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Emergence of Mobile Financial Services in Ghana: Concerns for Use among Informal Sector Women Entrepreneurs

Author

Listed:
  • Raymond K. Dziwornu
  • Kingsley K. Anagba
  • Ampem D. Aniapam

Abstract

Mobile financial services (MFS) have emerged in recent years as an indispensable tool to promote financial inclusion in emerging economies like Ghana. This article investigated the factors affecting MFS use among 300 women entrepreneurs in the informal sector in Ghana, using multinomial logit model. Knowledge of MFS, trust of services provided, nearness to agents and privacy of information are more likely to drive MFS use. In addition to embarking on aggressive radio and television advertisement, service operators should deploy more agents and invest in reliable infrastructure to build users’ trust to increase MFS use. JEL Classification: D12, G20

Suggested Citation

  • Raymond K. Dziwornu & Kingsley K. Anagba & Ampem D. Aniapam, 2018. "Emergence of Mobile Financial Services in Ghana: Concerns for Use among Informal Sector Women Entrepreneurs," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 17(3_suppl), pages 415-432, December.
    • Handle: RePEc:sae:emffin:v:17:y:2018:i:3_suppl:p:s415-s432
    DOI: 10.1177/0972652718798191
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    References listed on IDEAS

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    1. Jenny C. Aker & Isaac M. Mbiti, 2010. "Mobile Phones and Economic Development in Africa," Journal of Economic Perspectives, American Economic Association, vol. 24(3), pages 207-232, Summer.
    2. McFadden, Daniel, 1974. "The measurement of urban travel demand," Journal of Public Economics, Elsevier, vol. 3(4), pages 303-328, November.
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    More about this item

    Keywords

    Mobile financial services; entrepreneur; informal; Ghana;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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