VoxDev Development Economics S6 Ep30: Mobile money in Ghana
Jul 29, 2025
In this insightful discussion, Francis Annan, a researcher from Berkeley, shares his extensive studies on mobile money in rural Ghana. He delves into the innovative ways to minimize fraud and protect consumers in low-trust environments. Topics include the role of 'human ATMs' in underserved areas, strategies for reducing cheating through information transparency, and the impact of monopolistic practices on consumer trust. Annan also highlights the gender dynamics in financial services, showcasing the challenges faced by female consumers and vendors.
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Mobile Money Boosts Financial Welfare
- Mobile money improves financial lives of the poor by lowering cost and enabling savings, remittances, and shock mitigation.
- In Ghana, mobile money significantly enhances welfare and economic resilience, especially in rural areas.
Human ATMs Enable Access
- Human ATMs are local agents who interface directly with consumers to provide mobile money services.
- They enable access to deposits, withdrawals, and account opening where banks or formal ATMs are unavailable.
Build Trust and Local Regulation
- Ensure mobile money works by providing robust connectivity and building local trust and accountability.
- Implement strong local regulation and redress mechanisms tailored for rural, low-trust village contexts.