The role of mobile money in enhancing financial inclusion among rural dwellers in the bongo district of the upper east region of Ghana
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Date
2021
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KNUST
Abstract
This study is focused on role of Mobile Money in enhancing Financial Inclusion among Rural Dwellers in the Bongo District of Ghana. For the purpose of this study, financial inclusion is centered on the following thematic areas: ability to save on the part of MM users, access to borrowing facilities on the MM system, and the availability of good network coverage. For rural people in Ghana, non-access or limited access to formal banking services emanate from the challenge of traveling long distances to urban centers. In order to promote savings with the aid of the MM services, network providers have initiated the MM service system which is suitable for use by both rural and urban populations. By this, the rural folks who shy away from savings because of the cumbersome nature of MM savings have adopted it and deriving the benefits. Moreover, the MM services have promoted financial inclusion to an extent. I.e. The MM services have become the most convenient banking service for rural dwellers. Nevertheless the rural communities which are far are away from network catchment areas have people who have to travel long distances to access MM services. This still makes them disadvantaged. Service providers should employ agents who will periodically visit those users to render the needed services to them. Overall, even though some of the MM service vendors have additional charges on customers apart from the network charges, it is less expensive compared to the travel cost for banking transactions. The additional service charges on customers including both withdrawal and transfer of cash should be avoided across all the networks in Ghana especially for rural people.
Description
A thesis submitted to the department of accounting and finance, college of humanities and social sciences, in partial fulfillment of the requirements for the degree of msc accounting and finance