Report: Over 70% of Ghanaians Trust Mobile Money More Than Financial Institutions
Afrobarometer Report on public confidence in the safety of Ghana’s financial institutions, following the clean up in the sector, indicates over 70% of Ghanaians trust mobile money more than other financial institutions.
The report put together by CDD-Ghana noted that in spite of the cleanup, 83% of Ghanaians still trust in banks, but the reputation of savings and loans, microfinance and traditional susu companies has declined considerably.
Only 8% of the 2,400 Ghanaians surveyed said they will save with savings and loans; another 8% trust in traditional susu, while 7% says they still trust microfinance companies.
Meanwhile, some 11% say they would rather keep their money at home instead of saving with any financial institution.
Photo courtesy of BBC World Service.