Ghana currency

This report provides an overview of the consumer financial services landscape in Ghana, based on data collected from consumer interviews

The report is built around four themes:

  • Consumer financial services penetration and key products
  • Access to credit
  • Mobile banking
  • Competitive Landscape


This report is based on 1,029 in-home face-to-face interviews conducted  in Accra

  • Fieldwork dates: from August 11th to August 28th 2017
  • Coverage: all urban and peri-urban areas in Accra
  • Sampling: Random selection of Primary Sampling Units (PSUs) by means of probability proportional to size (based on population of each administrative units within the city). Random selection of household within each PSU, and random selection of interviewee within the household (among those above 18 years old)

Collected data collected is post-weighted on the age and gender dimensions according to Ghanaian demographics

How many people have an insurance policy in Accra?

What is the proportion of the population that uses the Internet for banking purposes?

Does income level have an influence on mobile banking penetration?

How many people know about the leading retail bank in the country?

These questions all find their answers in this report about consumer financial services in Ghana. The
report provides insights on financial products penetration, the credit landscape, mobile payments
and the banking competitive landscape.

The report is based on data collected through more than 1,000 face-to- face interviews in August
2017 in Accra, and provides a unique perspective of the consumer financial services landscape of the

Table of contents

1. Introduction and methodology
2. How Ghanaians bank: Top 4 facts
3. Financial products penetration
3.1. Financial products penetration: population with at least one financial product
3.2. Number of financial products owned per person
3.3. Types of financial products owned per person
3.4. Ownership of financial products by level of education and employment status
3.5. Ownership of financial products by household income
4. Credits and loans
4.1. Percentage of loan holders in the population: total and by gender
4.2. Sources of credit: percentage of loans by type of lender
4.3. Consumer perception on access to credit and trustworthiness of local banks
4.4. Consumer attitudes in relation to monthly budgeting of the personal finances
5. Mobile payments
  5.1. Mobile payments penetration: percentage of users within total population
5.2. Mobile payments penetration by age group and among smartphone owners

5.3. Mobile payments penetration by household income
5.4. Attitudes towards mobile payments and internet banking
5.5. Main uses of mobile payments by the population
5.6. Main providers of mobile payments
6. Competitive landscape
6.1. Unprompted brand awareness of major banks in Ghana

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How do Ghanaians bank? Consumer financial services in Accra - February 2018 (Full report – Pdf)


Key info

  • Date: February /  2018
  • Countries covered: 
  • Industry: 
  • Format: Pdf
  • Type: Report
  • Pages: 16
  • KeyWords: Banking / Financial services / Consumer / Ghana

Research team