Afrobarometer report shows 72% Ghanaians feel safe saving in their mobile money wallets

November 27, 2019 12:14 PM

An Afrobarometer survey has showed that 72% of Ghanaians feel safe saving their money in their mobile money wallet.

Dr. Ernest Y. Addison, Governor, Bank of Ghana (BoG)

The sample size of the survey in Ghana was 2,400 adult citizens and sentiments remained consistent over various demographics ranging from age, education level, gender and residence among others.

Meanwhile, 58% of Ghanaians feel it is safe to keep their investments in the banks.

According to the Afrobarometer report, only 25% of Ghanaians feel that the banks are somehow safe. However, 8% said the banks were not safe and 7% indicated the banks were not safe at all.

The report also showed that 61% of Ghanaians said they did not feel safe saving with Saving and Loans companies. They indicated that Saving and Loans companies are either not safe or not safe at all.

But on Microfinance institutions, 64% said they are either not safe or not safe at all.

On traditional susu collectors, the report said many Ghanaians considered it to be generally unsafe and rather opted for saving in mobile money wallets.

Despite the crisis in the financial sector over the last two years, the report suggested that many Ghanaians trusted the banks.