2021: 68% of Ghanaians owned financial institution debts placing u . S . 5th in SSA – World Bank
Source: aveaonetv
Dr. Ernest Addison, Governor of BoG
About 68 percentage of person Ghanaians own a bank account – whether cellular money or regular banking account – as of December 2021.
This locations Ghana on the fifth function among 25 international locations in Sub-Saharan Africa, however 1st in West Africa.
According to the 2021 World Bank Findex Report, forty one percent of person Ghanaians had bank money owed as of 2014.
This shot as much as fifty eight% in 2017 and in the end by means of 10% percentage to sixty eight percentage in 2021.
The document said Ghana, Cameroon Liberia, and Senegal were a few international locations that saw at least a ten percentage point growth in cellular cash account possession in view that 2017.
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However, the share of adults having financial institution money owed within the united states has remained basically stagnant because 2017.
“In Ghana, the share of adults having an account at a financial institution remained primarily stagnant due to the fact 2017, yet mobile cash account ownership extended to 60% from 39% in 2017, boosting overall account possession by using eleven percent factors”.
The report in addition said cellular money bills have turn out to be an vital approach to keep cash in Sub-Saharan Africa, where 15% of adults use to deposit cash—approximately the identical percentage that saves at a bank or similar economic organization.
Also, over 30% of adults in Ghana, Kenya, and Uganda keep cash in a mobile money account. Meanwhile, about 1-in-3 cellular cash account holders say they can't use their account without assist. Women are 5 percent points much more likely than guys to need assist working their cellular cash money owed
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In Sub-Saharan Africa, mobile cash adoption persevered to upward push between 2017 and 2021, such that 33% of adults now have a cell cash account—a percentage 3 times larger than the ten% worldwide common of cellular money account possession. Adoption and usage of cell cash services have spread past their origins as a person-to-character charge tool, such that 3-out[1]of-four mobile account proprietors in 2021 made or received at least one charge that turned into not man or woman-to-individual and 15% of adults use their cellular money account to save.
The listing of nations surveyed in 2021 consist of Benin, Burkina Faso, Cameroon, Congo, Rep., Côte d’Ivoire, Gabon, Ghana, Guinea, Kenya, Liberia, Malawi, Mali, Mauritius, Mozambique, Namibia, Nigeria, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe.
TOP 10 COUNTRIES IN SUB-SAHARAN AFRICA WITH HIGHEST BANK ACCOUNT GROWTH
COUNTRY PERCENTAGE GROWTH (%) POSITION
Mauritius 91 1st
South Africa eighty five 2d
Namibia 81 third
Kenya seventy nine 4th
Ghana sixty eight fifth
Gabon 66 sixth
Uganda sixty six 6th
Zimbabwe 60 8th
Senegal 58 9th
Liberia fifty two 10th
Tanzania 52 nineteenth
Tags: Findex Report World Bank
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