Mobile Money Market Operations in the Financial Sector: Issues of Financial Inclusion, Savings Mobilization and Investment in Local Economy of Ghana

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Kwaku D. Kessey
Kwaku D. Kessey
1 Kwame Nkrumah University of Science and Technology

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The importance of the financial sector in an economy cannot be overemphasized. Among others, it provides financial resources to support businesses, household consumption as well as public sector investment. However, there is limited access to the facilities provided by the sector in Ghana, hence many people are excluded from benefits that could be obtained from the financial sector. In other words financial exclusiveness is a major challenge in the country. Therefore, introduction of Mobile telecommunication technology and its attendant Mobile Money Market have been received with appreciation to the service providers. Given the modus operandi of the new system it has become necessary to examine the innovation in relation to some variables which influence economic growth as it is expected of activities in the financial sector. Hence some research questions were raised to guide a study in the Mobile Money Market. Has the introduction of Mobile Money Market reduced financial exclusion? To what extent do households use the innovation to mobilize domestic savings? How are the funds in the Mobile Money Market utilized by the owners among others.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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Kwaku D. Kessey. 2019. \u201cMobile Money Market Operations in the Financial Sector: Issues of Financial Inclusion, Savings Mobilization and Investment in Local Economy of Ghana\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 19 (GJMBR Volume 19 Issue C2): .

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Issue Cover
GJMBR Volume 19 Issue C2
Pg. 41- 51
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-C Classification: JEL Code: B26
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v1.2

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March 23, 2019

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English

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The importance of the financial sector in an economy cannot be overemphasized. Among others, it provides financial resources to support businesses, household consumption as well as public sector investment. However, there is limited access to the facilities provided by the sector in Ghana, hence many people are excluded from benefits that could be obtained from the financial sector. In other words financial exclusiveness is a major challenge in the country. Therefore, introduction of Mobile telecommunication technology and its attendant Mobile Money Market have been received with appreciation to the service providers. Given the modus operandi of the new system it has become necessary to examine the innovation in relation to some variables which influence economic growth as it is expected of activities in the financial sector. Hence some research questions were raised to guide a study in the Mobile Money Market. Has the introduction of Mobile Money Market reduced financial exclusion? To what extent do households use the innovation to mobilize domestic savings? How are the funds in the Mobile Money Market utilized by the owners among others.

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Mobile Money Market Operations in the Financial Sector: Issues of Financial Inclusion, Savings Mobilization and Investment in Local Economy of Ghana

Kwaku D. Kessey
Kwaku D. Kessey Kwame Nkrumah University of Science and Technology

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