New Working Paper: Mobile Money and Susu Savings in Ghana
IMTFI announces its latest working paper by Dr. Eric Osei-Assibey from the University of Ghana: What Drives Behavioral Intention of Mobile Money Adoption: The Case of Ancient Susu Operations in Ghana. This study provides insights
into the ancient susu savings operation in Ghana and the behavioral
intention or willingness of susu collectors and users to adopt a mobile
money (MM) platform as part of their savings practices. More specifically, this
study investigates human and technological factors that determine one’s intention to adopt MM as a
savings channel, particularly in place of more traditional ways of saving among
many people in West Africa.
Photo by Eric Osei-Assibey
The study reports many interesting findings, but
one that is striking is the importance of the physical
presence of the susu collector, which was found to be statistically
significant but negatively influencing one’s behavioral intention to accept MM.
This, which was found to be the primary reason motivating susu users
to honor their savings commitment, is potentially an important factor in
explaining why respondents were not sure whether an MM platform would be an
effective method of saving. While MM uptake remains significantly low, the
study findings suggest that the way to increase uptake is to create more
awareness, embark on financial literacy programs, and reduce mistrust and
perception of risk of the MM platform.