Mobile money and financial inclusion in ghana: the moderating role of social networks

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This study investigates whether social networks moderate the relationship between mobile money use and financial inclusion in Ghana. The study uses survey data from 120 households in the Ashanti Region of Ghana and employs the hierarchical regression method and Mod Graph as estimators. The empirical results indicate that mobile money usage and social networks increase the financial inclusion of households in Ghana. In addition, the results show the positive effect of mobile money on financial inclusion in stronger, particularly within a strong social network. Furthermore, the empirical results reveal that social network among households increases the positive effect of mobile money on financial inclusion. This study concludes that social network is useful for making mobile money financially inclusive. In light of these results, the study recommends that mobile money operators such as telecommunication companies, financial institutions, Fintech companies and governments must promote affordable mobile money services and infrastructure to enhance financial inclusion. In addition, this study recommends that mobile money network operators design a service which enhances social interaction to achieve higher financial inclusion. For instance, mobile networks must leverage social ties to spread mobile money to increase adoption. In addition, mobile money users must use their social sites to share useful mobile financial innovation information to improve access to financial services. For instance, by sharing the credibility and dependability of the mobile money services with other closely related people.
A thesis submitted to the school of business, kwame nkrumah university of science and technology in partial fulfilment of the requirements for the award of the degree of master of business administration in accounting