Article
Journal of Emerging Market Finance
17(3S) 415S–432S
© 2018 Institute for Financial
Management and Research
SAGE Publications
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DOI: 10.1177/0972652718798191
http://journals.sagepub.com/home/emf
1
Department of Banking and Finance, University of Professional Studies, Accra, Ghana.
2
Department of Business Administration, University of Professional Studies, Accra, Ghana.
Corresponding author:
Raymond K. Dziwornu, Department of Banking and Finance, University of Professional
Studies, Box LG 149, Accra, Ghana.
E-mail: dziray28@yahoo.com
Emergence of Mobile
Financial Services in
Ghana: Concerns for
Use among Informal
Sector Women
Entrepreneurs
Raymond K. Dziwornu
1
Kingsley K. Anagba
2
Ampem D. Aniapam
2
Abstract
Mobile financial services (MFS) have emerged in recent years as an
indispensable tool to promote financial inclusion in emerging economies
like Ghana. This article investigated the factors affecting MFS use among
300 women entrepreneurs in the informal sector in Ghana, using multi-
nomial logit model. Knowledge of MFS, trust of services provided, near-
ness to agents and privacy of information are more likely to drive MFS use.
In addition to embarking on aggressive radio and television advertisement,
service operators should deploy more agents and invest in reliable
infrastructure to build users’ trust to increase MFS use.
JEL Classification: D12, G20
Keywords
Mobile financial services, entrepreneur, informal, Ghana