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August, 2015
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The printing of currency notes and minting of coins takes a heavy toll on every government‟s expenditure. Citizens are also exposed to armed robberies as they carry cash from one place to the other. Not forgetting the numerous queues that exist at banks, supermarkets etc when people want to make transactions. Efforts are therefore being strongly made by the Bank of Ghana to promote electronic payments in Ghana and reduce the over reliance on physical cash for transactions. The use of mobile money will help push this agenda. This research aimed at assessing MTN Mobile Money in Ghana as we drive towards a cashless economy. This was done by critically assessing its current use and investigating the challenges of using MTN Mobile Money. It also established the level of preference for MTN Mobile Money as compared to bank transactions or ATM and e–ZWICH. The study was based on a survey conducted through the administration of questionnaires to users and merchants of MTN Mobile Money in the Ashanti Region. The study showed that single females between the ages of 18 and 25 years use mobile money more often than men. It also identified network instability and unavailability and delay in reversal of wrong transactions as the greatest challenges to the operation of MTN Mobile Money services in Ghana. The findings show that despite these challenges, most users have resolved to continue using the services and also recommend it to other people.
A Thesis submitted to the Department of Accounting and Finance, Kwame Nkrumah University of Science and Technology in partial fulfilment of the requirements for the degree of Master of Business Administration (Finance Option)