The report, which was conducted by the Center for Democratic Development (CDD), surveyed the views of 2,400 Ghanaians.
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72% of Ghanaians trust mobile money more than financial institutions – Afrobarometer report
An Afrobarometer survey has revealed that 72% of Ghanaians trust mobile money more than other financial institutions.
72% of Ghanaians trust mobile money more than financial institutions – Afrobarometer report
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The CDD report also stated that the reputation of savings and loans, microfinance and traditional ‘susu’ companies have declined.
Among the surveyed Ghanaians, only 8% of said they will continue to save with savings and loans companies.
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Another 8% said they trust in traditional ‘susu’, while 7% say they still trust microfinance companies.
Meanwhile, 83% of Ghanaians indicated that they still trust in banks, with 11% saying they would rather keep their money at home.
Statistics show that over 4 million transactions are recorded daily, while 13 million active mobile money wallets are in existence.
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