• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

6 out of 10 Ghanaians use mobile money every week, survey says

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
137
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

6 out of 10 Ghanaians use mobile money every week, survey says

Ghana’s payment ecosystem remains firmly anchored by mobile money, according to the 2023 KPMG West Africa Banking Industry Customer Survey. A commanding 66% of respondents affirm their weekly engagement with mobile money, highlighting its dominant role in the nation’s financial architecture.

Yet, beneath this digital veneer lies a resilient cash-based economy. The report underscores the pivotal role of seamless fund transfers between bank accounts and mobile wallets, pinpointing it as a cornerstone of customer satisfaction. Some banks, in a bid to elevate user experience, have opted to waive fees for such inter-transactions, further facilitating financial fluidity for consumers.

The survey captures the accelerating embrace of financial technology platforms, witnessing a surge from 10% to 16% in weekly usage between 2022 and 2023. Concurrently, the deployment of banking mobile applications has seen a modest uptick, with 53% of respondents now engaging on a weekly basis—a marginal 3-percentage point increment from the preceding year.

Meanwhile, the USSD platform’s relevance is underscored by its burgeoning adoption, with 28% of survey participants utilizing it on a weekly basis. However, amidst this digital renaissance, ATMs retain their prominence, with 32% of respondents frequenting them weekly, emphasizing the enduring allure of cash transactions.

Per the survey, 36% of respondents favouring the ATM for cash withdrawals, and 22% prefer mobile money, the cultural preference for cash persists due to its perceived security and widespread acceptance, particularly in traditional markets and informal sectors.

“Despite advancements in digital security, there persists a prevailing mistrust and reluctance toward the security of digital platforms”, KPMG added.

RelatedPosts

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

The survey notes that Ghana’s ongoing journey of digital adoption is gaining momentum. Hence, the Ghanaian payment sphere presents a fertile ground, ripe with opportunities for substantial disruption and transformative change.

 

Tags: 6 out of 10 Ghanaians use mobile money every weekATMKPMGmobile moneysurvey says
No Result
View All Result

Highlights

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

Standard Chartered Empowers Future Leaders Through Financial Literacy and Mentorship

Nigeria Exiting Years of Economic Doldrum But Hard Road Ahead Still

ChatGPT Captures 48.36% of All AI Tool Traffic

Aid to Regional Partnerships: Japan’s New Strategic Approach to Economic Engagement with Africa

Trending

Business

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

August 25, 2025

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears The Ghana Revenue...

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

August 25, 2025

Champion of Champions: Gold Stars set for Showdown Against Asante Kotoko in Bibiani

August 25, 2025

President Mahama Secures Infrastructure, Technology, and Agriculture Deals on Japan Visit

August 25, 2025

Mida Pledges Alignment With US Strategic Shift On Millennium Challenge Corporation

August 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.