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GHANA & RWANDASUMMARY INSIGHTS FROM
NATIONAL SURVEYS
Nairobi, Kenya
August, 2015
CONTENTS
GHANA & RWANDA
2
About the surveys
Financial Sector Highlights
Use of Banking Services in Ghana
Use of Mobile Money Services in Rwanda
THE DFS SURVEY DETAILS
Rwanda
• Nationally representative survey
(N=2,003) of Rwandese adults
aged 15+
• Face-to-face interviews lasting,
on average, 66 minutes
• Conducted from December 10,
2014 to February 18, 2015
• Provides baseline measurements.
Subsequent annual surveys will
measure trends and track market
developments in DFS
GHANA & RWANDA
Ghana
• Nationally representative
survey (N=3,002) of
Ghanaian adults aged 15+
• Face-to-face interviews
lasting, on average, 64
minutes
• Conducted from December
1, 2014 to January 3, 2015
• Provides baseline
measurements. Subsequent
annual surveys will measure
trends and track market
developments in DFS
Data collected
• Basic demographics
• Poverty measurement (Grameen
Progress Out of Poverty Index)
• Access/use of mobile devices
• Access/use of mobile money
• Access/use of formal financial
services (e.g., bank accounts)
• Access/use of semi-formal and
informal financial services (e.g.,
SACCO, cooperatives, self-help
groups)
• Financial literacy and
preparedness
• Technical literacy
FINANCIAL SECTOR HIGHLIGHTS
GHANA& RWANDA
4
Source: InterMedia FII Tracker Surveys 2014-2015.
IndicatorsKenya
(n=2,995)
Tanzania
(n=3,000)
Uganda
(n=3,001)
Rwanda
(n=2,003)
Ghana
(n=3,002)
% have required ID 82% 61% 59% 90% 98%
% with basic numeracy 90% 93% 79% 87% 95%
% own a mobile phone 74% 72% 58% 47% 91%
% ever send/receive SMS 69% 61% 50% 37% 74%
96%91%
74%
95% 98%
Have access to amobile phone
Own a mobilephone
Ever send/receivetext messages
Have basicnumeracy
Have an ID
Key indicators of preparedness for digital financial services (Ghana)(All adults, N=3,002)
equipment skills
GHANA & RWANDA
Ghana is not held back by any of the typical constrains in DFS
development unlike Rwanda that ranks the lowest among other FII
countries in preparedness for DFS uptake and use
GHANA & RWANDA DFS SNAPSHOT
In Ghana, banks are the key drivers of registered use of financial services
34% have bank accounts
9% have nonbank financial
institution accounts
(excluding credit only)
20% have registered mobile money
accounts
*Overlap representing those who have multiple kinds of financial accounts is not shown.
48% of adult Ghanaians
have financial accounts
37% of adult Rwandese
have financial accounts
16% have bank accounts
23% have registered mobile money
accounts
16% have nonbank financial
institution accounts
(excluding credit only)
In Rwanda, mobile money is driving
registered use of financial services
Source: InterMedia FII Tracker Surveys 2014-2015.
GHANA
7
Across FII countries in Africa, the gap in financial service use is the highest
by poverty status, followed by location and gender. Active use of financial
services in Ghana is reasonably balanced, Rwanda shows a drastic gap in
all three demographic groups.
Source: InterMedia FII surveys in Kenya, Tanzania, Ghana, Uganda and Rwanda, 2014-2015.
100% 100%
89%
59%
28%
56%
39%
61%
28%
39%
25%31%
Active account holder,bank
Active account holder,MM
Gap in active account ownership by
poverty status
100% 100%
48%
73%
103%
63%57%
78%
33%41%
23%
32%
Active account holder,bank
Active account holder, MM
Normalized men, urban or above the poverty level
Kenya
Tanzania
Ghana
Uganda
Rwanda
Gap in active account ownership by
location (urban/rural)
100% 100%
55%
88%
71%
81%
33%
86%
65%
76%
63%
54%
Active account holder,bank
Active account holder, MM
Gap in active account ownership by
gender
USE OF BANKING SERVICES IN GHANA
GHANA
8
6%
1%
22%
71%
Lapsed digital bank account holders Unregistered users of digital bank accounts
Active digital bank account holders Do not have digital access to a bank account
GHANA
Digital bank accounts in Ghana are more common than in any other FII Africa countries; those with a digital account access it through more than one digital channel
Method of access (Shown: Percentage of active digital bank account holders, n=177)
Digital bank account access* (Total population, N=3,002)
* Digital bank accounts offer at least one of the following options: debit/ATM or credit cards, internet or mobile access, or a digital money
transfer capability.
Active digital account
holders (22%) use a
variety of methods
*Question allowed for multiple responses.
55%
63%
86%
Can access a bank account viainternet or mobile app
Can transfer money digitally
Have a credit or a debit/ATM card
Source: InterMedia FII Tracker Surveys 2014-2015.
Adults with active
digital bank accounts
Kenya 20% Tanzania 6% Uganda 10% Rwanda 9%
47%
14%
38%
Basic use only (CICO)
Basic use and P2P
At least one advancedactivity
GHANA
Bank account uses(Shown: Percentage of active bank account holders,
n=751)
Top advanced bank account uses(Shown: Percentage of active bank account holders,
n=751)
• Active account holders
conduct, on average,
two advanced activities.
• 12% conduct three
advanced activities.
4%
6%
7%
13%
15%
16%
Insurance-related activities
bank2mm or bank2banktransfers
G2P
Receive wages
Bill pay
Save/set aside money
The top advanced bank account uses are saving and bill pay
Source: InterMedia FII Tracker Surveys 2014-2015.
In Ghana, bank account holders are more active than the general population in
performing various financial activities; however, even those who only use bank
accounts use them mostly for P2P transfers and few – to save
GHANA
Use of banks for common financial services(Shown: Percentage of the respective groups)
60%
51%46%
43% 42%
25%
12%8% 6%
69%
93%
56%
48%51%
34%
16% 14%11%
31%
14%
3% 2%
9% 11%
3% 2%6%
Send or receiveP2P payments
Save or set asidemoney
Pay a regular billfor electricity,
cabel, water, etc.
Pay a medical bill Pay school fees Receive wages Pay insurancepremiums or
receive claims
Make P2Gpayments
Receive G2Ppayments
% adults performing the activity (N=3,002) %bank account holders performing the activity (n=1,015)
%bank account holders performing the activity through a bank (n=1,015)
Source: InterMedia FII Tracker Surveys 2014-2015.
Receiving payment from customers is the most common business transaction done via bank accounts
GHANA
Business related transactions on bank accounts(Shown: Percentage of active bank account holders who use accounts to make payments, n=85)
14%
19%
20%
26%
28%
30%
48%
Pay business associated expenses
Make investments
Pay for agricultural inputs
Pay suppliers
Receive payments from distributors
Pay employees
Receive payments from customers 11% of active bank account
holders use their accounts for
business-related transactions
Source: InterMedia FII Tracker Surveys 2014-2015.
USE OF MOBILE MONEY SERVICES IN RWANDA
RWANDA
13
The majority of Rwandese adopt mobile money for basic transactions
(P2P transfers) but some also adopt to save
RWANDA
Top reasons for starting to use a mobile money account(Shown: Percentage of active mobile money account holders, n=317)
40%
I had to receive
money from
another person
20% 9% 5% 2% 2%
I had to send
money to
another person
Wanted to start
saving money
with a mobile
money account
An agent
convinced me
I saw
billboards/post
ers/
radio/TV
adverts that
convinced me
I wanted a
safe place
to keep/store
our money
Source: InterMedia FII Tracker Surveys 2014-2015.
Advanced usage of mobile money services is more common in Rwanda,
bill pay tops the list with a quarter of customers using this feature
RWANDA
Advanced mobile money account uses(Shown: Percentage of active mobile money account holders, n=317)
Make mm2mm or mm2bank transfers
Bill pay*
Save/set aside money
Pay in person for goods and services
Pay remotely for goods and services
Receive wages
Receive G2P payments
Loan activity
Insurance activity
17.0%
14.0%
6.0%
2.0%
2.0%
0.6%
9.0%
3.0%
3.0%
25%
7%
2%
2%
2%
1%
1%
0.8%
0.5%
*Bill pay category includes paying
formal bills for buying commercial and
government services, including utility bills,
rent, payments of fees/fines/taxes.
Note: Question allowed for multiple
responses.
RwandaAverage for Kenya, Uganda & Tanzania
Source: InterMedia FII Tracker Surveys 2014-2015.
In Rwanda most customers are using the bill pay feature for electricity
and there is great potential to digitise other payment flows
RWANDA
Bill pay activity on mobile money accounts(Shown: Percentage of mobile money account holders who use accounts to make payments, n=77)
Those who pay bills with mobile money accounts,
Type of bill
1%
2%
3%
6%
7%
7%
12%
86%
Pay for solar lantern or system
Pay a government bill
Pay water access or delivery
Pay rent
Pay medical bill
Pay for TV, satellite, cable
Pay school fee
Pay electricity bill
25%
% of active MM account holders who use their
accounts for paying bills
Source: InterMedia FII Tracker Surveys 2014-2015.
Payroll is the most common business transaction done via mobile money
RWANDA
Business related transactions on mobile money accounts(Shown: Percentage of active MM account holders who use accounts to make payments, n=35*)
6%
11%
19%
19%
23%
31%
34%
43%
Pay for agricultural inputs
Receive payments from distributors
Reinvest in business (equipment,expansion, training)
Send money to employess to buy supplies& materials
Pay bills (rent, taxes, utilities)
Pay suppliers
Receive payments from customers
Pay employees • 10% of active MM account
holders use their accounts for
business-related transactions
*The analysis on this slide
is done on a small sample
(n<50) and should be treated
with caution.
Source: InterMedia FII Tracker Surveys 2014-2015.
Food for thought!
How come mobile money uptake lags in Ghana and not Rwanda?
GHANA & RWANDA
Source: InterMedia FII Tracker Surveys 2014-2015.
• Digital bank accounts in Ghana are more
common than Rwanda (55% of active bank
account holders can access a bank account
via internet or mobile app).
• In Ghana there is no clear disadvantaged
group, access and use of DFS is relatively
more balanced by poverty status, location
and gender unlike in Rwanda.
• It appears that the difference in financial
landscape and financial institution offers
creates unique settings in Ghana and
Rwanda – in Ghana, supporting the
expansion of bank use and in Rwanda
creating fruitful environment for expansion
of mobile money.
• Top uses of banks in Ghana and mobile
money in Rwanda (savings & bill pay) are
the same.