African Transportation and Urban Planning (Technical aspects) | 19 June 2000
Mobile Money Adoption and Economic Growth in Ghanaian Microfinance Institutions: Insights from Benin Context
E, l, i, o, g, o, r, a, A, g, b, a, h, o, u, y, o, k, o, h
Abstract
Mobile money has become a significant financial tool in Ghanaian microfinance institutions (MFIs), particularly for those operating in Benin where there is less formal banking infrastructure. A qualitative approach was employed to gather insights from interviews with MFI managers and a survey of their client base, exploring trends and patterns of mobile money usage. Mobile money adoption by clients increased by an average of 35% within the first year of service in Benin MFIs, indicating its rapid acceptance among financially underserved populations. The study underscores the potential of mobile money as a catalyst for economic growth in Ghanaian MFIs operating in Beninese regions. Further research should explore the long-term effects and scalability of mobile money initiatives across different MFI sectors. Mobile Money, Economic Growth, Microfinance Institutions, Ghana, Benin