Mobile Money as a Tool for Financial Inclusion in Ghana's Post-COVID-19 Context: Key Developments and Future Trajectory

Dataking Working Paper Series N° WP2021-07-05

13 Pages Posted: 5 Aug 2021

Date Written: July 30, 2021

Abstract

The COVID-19 pandemic has significantly disrupted all spheres of life including the financial sector. In developing economies, the high number of people and businesses that fall under the informal sector is something that continues to receive policy attention. The actors within the informal sector are mostly those within the rural or urban poor and the pro-poor population. Mobile money services, which are digitised technologies that allow mobile phone users to access financial services have been improving the state of financial inclusion. This study explores the current state of mobile money usage in Ghana, discussing the issues within the context of COVID-19. The study further provides a futuristic analysis of the emerging developments on the use of mobile money as a tool for enhancing financial inclusion. Essentially, these future projections are provided on the critical issues that need to be considered in a post-COVID-19 context. Although the analysis dwells heavily on Ghana, the issues raised can be applied to the context of other developing economies with similar informal sectors and pro-poor populations.

Keywords: mobile money, financial inclusion, COVID-19, pro-poor population, poverty, financial services, SDGs

JEL Classification: E5, G21, G23, G28, G29, N17, O17

Suggested Citation

Duho, King Carl Tornam and Quansah, Daniel Ninsin, Mobile Money as a Tool for Financial Inclusion in Ghana's Post-COVID-19 Context: Key Developments and Future Trajectory (July 30, 2021). Dataking Working Paper Series N° WP2021-07-05, Available at SSRN: https://ssrn.com/abstract=3896369 or http://dx.doi.org/10.2139/ssrn.3896369

King Carl Tornam Duho (Contact Author)

Dataking Consulting ( email )

Accra, +233
Ghana
+233 (Fax)

Daniel Ninsin Quansah

Dataking Consulting

Accra, Greater Accra +233
Ghana

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