Country Context

In 2008 the country’s central bank – the Bank of Ghana (BoG) – issued branchless banking regulations, which enabled banks to leverage digital technologies in the financial inclusion space, but limited the role played by Mobile Network Operators (MNOs). By signing on to the Maya Declaration in 2012 and the Better Than Cash Alliance (BTCA) in 2014, the Government of Ghana has made a strong commitment to enabling digital financial inclusion. To help manage the growing digital financial services sector in Ghana—which grew from an estimated 150,000 active users in 2011to more than 4 million in 2015—the BoG released new guidelines governing e-money issuers and the use of agents in financial services in July 2015 which have been widely hailed as best practice.

As of late 2015, there were 6 main providers of digital financial services (DFS) in the country: MTN, Tigo, Airtel, Vodafone, Fidelity Bank and e-Zwich. MTN, Tigo, Airtel and Vodafone are all mobile network operators (MNOs) offering mobile money services throughout the country. In addition to these DFS-centric financial service providers, there are more than 27 commercial banks, 60 non-bank financial institutions (NBFIs), 138 rural and community banks, 503 licensed MFIs and hundreds of licensed individual susu collectors in the country.

Ghana Year One Wave ReportDownload

Key Metrics

Source: FII Survey of Ghana, conducted December 2014-January 2015; sample size=[3,002]

Mobile Phone
Mobile PhoneTotalMaleFemaleUrbanRural
Own Mobile Phone91%94%88%94%87%
Own or Can Borrow Mobile Phone96%98%95%98%95%
Own Sim Card91%95%88%95%87%
Own or Can Borrow Sim Card96%98%95%98%95%
Bank Accounts
Bank AccountsTotalMaleFemaleUrbanRural
Own Bank Account34%41%28%41%26%
Own or Have Access to Bank Account36%43%30%43%28%
Active Bank Account User (Past 90 Days)26%32%21%32%19%
Mobile Money Use
Mobile Money UseTotalMaleFemaleUrbanRural
Have Ever Used MM29%32%27%32%27%
Active MM User (past 90 days)25%28%23%27%23%
Registered MM User20%22%18%23%18%
Registered Active MM User17%20%15%19%15%


See the CGAP data visualization here.