Mobile Money Market Operations in the Financial Sector: Issues of Financial Inclusion, Savings Mobilization and Investment in Local Economy of Ghana

Kwaku D. Kessey

Authors

Kwaku D. Kessey

Keywords:

telecommunication technology, service providers, money market, financial inclusion, savings

Abstract

The importance of the financial sector in an economy cannot be overemphasized. Among others, it provides financial resources to support businesses, household consumption as well as public sector investment. However, there is limited access to the facilities provided by the sector in Ghana, hence many people are excluded from benefits that could be obtained from the financial sector. In other words financial exclusiveness is a major challenge in the country. Therefore, introduction of Mobile telecommunication technology and its attendant Mobile Money Market have been received with appreciation to the service providers. Given the modus operandi of the new system it has become necessary to examine the innovation in relation to some variables which influence economic growth as it is expected of activities in the financial sector. Hence some research questions were raised to guide a study in the Mobile Money Market. Has the introduction of Mobile Money Market reduced financial exclusion? To what extent do households use the innovation to mobilize domestic savings? How are the funds in the Mobile Money Market utilized by the owners among others.

Downloads

How to Cite

Mobile Money Market Operations in the Financial Sector: Issues of Financial Inclusion, Savings Mobilization and Investment in Local Economy of Ghana. (2019). Global Journal of Management and Business Research, 19(7), 41-51. https://journalofbusiness.org/index.php/GJMBR/article/view/2699

Download Citation

Author Biography

Kwaku D. Kessey

Kwaku D. Kessey is a researcher affiliated with the Kwame Nkrumah University of Science and Technology in Ghana. His scholarly work primarily explores the dynamics of financial systems, with a particular focus on credit risk management in the banking sector, the impact of mobile money on financial inclusion, and the role of micro credit in supporting small and medium enterprises. Through his research, Kessey has contributed valuable insights into the informal sector of Ghana's economy. With 12 publications and over 30 citations, his work has garnered attention in the academic community, reflected in an h-index of 3 and an i10-index of 1.

References

A. Andy, B. Ama (2015) The Effect of Mobile Money on the Payment Systems of Ghana‖. http://www.academia.edu

Ernest Aryeetey (1997) Savings, Investment and Financial Development with Informal and Semi‐formal Financial Markets in Africa. 9(1), 210-233. https://doi.org/10.1111/j.1467-8268.1997.tb00134.x

Yoris AU, Robert Kauffman (2008) The economics of mobile payments: Understanding stakeholder issues for an emerging financial technology application. 7(2), 141-164. https://doi.org/10.1016/j.elerap.2006.12.004

Bank of Ghana (2016) ‗Bank of Ghana to review Mobile Money regulations. http://www.citifmonline.com/2016/06/

D. Contini, M. Crowe, C. Merritt, R. Oliver, S. Mott (2011) Mobile payments in the United States: mapping out the road ahead.

Anis Chowdhury, Colin Kirkpatrick (1994) Development Policy and Planning; an introduction models and techniques, London, Routledge.

K. Donovan (2012) Mobile Money for Financial Inclusion.

V. Dzokoto, E. Appiah (2014) Making sense of mobile money in urban Ghana: Personal, business.

Menekse Gencer (2011) The mobile money movement: Catalyst to jump-start emerging markets. innovations. 6(1), 101-117. https://doi.org/10.1162/inov_a_00061

S. Kusimba (2013) Social Networks of Mobile Money in Kenya Institute for Money.

E. Mensah, V. Dzokoto (2011) Post Redenomination and Money Management Technical Report Institute for Money Technology anf Financial Inclusion (IMTFI), Irvine, Unversity of California.

National Communications Authority (2011) Quarterly statistical bulletin on communications in Ghana‖ www. http://www.nca.org.gh/.../QuaterlyStatistics

National Communications Authority (NCA) (2016) Industry Information- Telecom Subscriptions for March, 2016 (www. http://www.nca.gov.gh

K. Oliver, J. Julius, A. Rose (2012) Impact of mobile phone based money transfer services in agriculture: evidence from Kenya. In IAAE Triennial Conference. 24.

Christine Qiang, Siou Kuek, Andrew Dymond, Steve Esselaar (2011) Mobile Applications for Agriculture and Rural Development. https://doi.org/10.1596/21892

M. Raphael, O. Gilbert, G. Samuel (2014) Socio-economic Effects of Mpesa Adoption on the Livelihoods of People in Bureti Sub County, Kenya. 4(12).

C. Sander (2003) Migrant remittances to developing countries.

D. Wolman (2012) The End of Money Cambridge, Massachusetts.

World Bank Report (2014) "Global Economic Developments and Ghana's Economic Performance‖ isser.