Final Report - Mobile Money Utility & Financial Inclusion: Insights from Unbanked Poor End-Users in Nigeria and Ghana

The comparative report from Lite J. Nartey and Olayinka David-West exploring dynamics of mobile money utility amongst poor unbanked users in Nigeria and Ghana has just been released. Filled with analyses, research tools, and informative wordles, and colorful infographics. View the full report here.


Ghana: Non-User General Trust Perceptions of Banks Vs. Telcos



Nigeria: Detailed Non-User Trust Perceptions of Banks vs. Telcos

Sample of concluding insights:

• The mobile money services offered are basic and ranked at the bottom of the hierarchy of consumer financial needs.

• Although the mobile money services offered are supported by a myriad of value creation and delivery processes, the low adoption levels are indicative of additional efforts in the value delivery activities like market development and segmentation.

• Direct marketing is a useful tool to encouraging both awareness and a better understanding of the product. However, more needs to be done to increase base awareness and actually encourage users to try to these platforms.

• In Nigeria, the relatively low adoption and utility rates do not support innovative uses by the targeted users.

• In Ghana, despite the low adoption rate, the service is highly favored amongst those that actually do use it.

• The use of informal savings schemes like susu or ajo that provide savers with a pool of funds to facilitate substantial payments are a popular and preferred savings method. The use of transportation services is a substitute for remittance services; however, the transfer and resale of mobile airtime are also employed for small amounts.

Read blogpost summarizing key findings.