Building an Inclusive Digital Payments Ecosystem: The Way Forward

R. Amoah, R. Bansal, A. Kasebele & Ariadne Plaitakis | The Better Than Cash Alliance

This report by UN-based Better Than Cash Alliance, assesses Ghana’s progress to date, and sets out specific policy recommendations that can accelerate Ghana’s journey toward a more digital economy. The report draws on a fast-growing body of knowledge about success factors in similar markets. It also examines three areas of specific focus – government fees and fines, public utility payments, and the fast-moving consumer goods sector – where digitization can have particularly powerful impacts. The results shows that Ghana has made significant gains, including almost 100 percent of government payments to people and payments within the government now processed digitally. This shift has translated into direct benefits to people, particularly women, support for small businesses and cost savings for the government. However, the vast majority of payments by volume are still being made in cash. This report estimates that, even with this progress, 98.72% of the number of payments are still currently being made in cash, as individuals continue to purchase essential goods, including food, in the informal economy which relies on cash.

Ghana, Access to Finance, Mobile Banking, Payment Systems
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