A new report has revealed that just 37% of Ghanaian businesses currently accept or use digital payments, with the agricultural sector showing the lowest adoption rate. Apexnewsgh reports
The findings come from the Adoption of Digital Financial Services by Business Firms in Ghana report, jointly released by Retail Finance Distribution (ReFinD) and the Institute for Statistical, Social and Economic Research (ISSER), with support from the Ghana Statistical Service.
The report highlights a stark urban-rural divide, with digital payment usage concentrated in Greater Accra and regional capitals, while smaller towns and rural areas lag behind.
Interestingly, businesses managed by women showed higher revenue growth and greater adoption of merchant accounts, suggesting that female leadership may drive digital financial inclusion.
Prof. Peter Quartey, Director of ISSER, noted: “Adoption remains low due to business environment uncertainty, costs, taxation, and other constraints. However, digital financial inclusion remains one of the best ways to bring the unbanked into the formal financial system.”
Kwame Oppong, Director of Fintech & Innovation at the Bank of Ghana, emphasized the report’s importance in shaping policy:
“Despite progress, financial inclusion gaps persist, especially in gender and digital access. This research will help refine our strategies to make financial inclusion more effective.”
With Ghana pushing toward a cash-lite economy, these findings highlight the urgent need for policy reforms, private-sector collaboration, and public awareness campaigns to accelerate digital payment adoption—particularly in underserved sectors like agriculture.
Will Ghana overcome these hurdles and achieve full digital financial inclusion? Stakeholders are now under pressure to act swiftly.
Source: Apexnewsgh.com
