Mobile Financial Services Program

The main objective of the Ghana Mobile Financial Services Program (MFS) is to improve financial inclusion of Ghana’s population by increasing access to low cost financial services to the un(der)banked. Mobile financial services have proven to be an effective tool to promote financial inclusion because they are very cost-effective (affordable for the poor) and they allow for scale by building on a platform that exists even in poor and remote areas of the world (mobile phones).

Pays/région Période Budget
01.02.2016 - 31.12.2021
CHF 5'388'694
Contexte Financial inclusion in Ghana is still weak: as of 2015, only about a third of Ghanaians have bank accounts, savings accounts and access to credit. At the same time, about 90% own a mobile phone and the country has one of the highest rates of phone penetration in Sub-Saharan Africa. MFS exist in Ghana today but do not deliver on their potential with regard to financial inclusion. Ghana has been chosen for this program because it presents an opportunity due to its market structures, regulatory environment and political will. MFS is a national priority and will likely have a high standing in Ghana’s upcoming Financial Inclusion Strategy to be launched in 2017/2018.
Objectifs The main objective of the MFS Ghana is to improve financial inclusion of Ghana’s population by increasing access to low cost financial services to the un(der)banked. Recent research suggests that inclusive and efficient financial markets have the potential to improve the lives of citizens, reduce transaction costs, spur economic activity, and improve delivery of other social benefits and innovative private-sector solutions.
Effets à moyen terme The program fosters the development of a sound regulatory environment conducive to the further development of digital financial services (DFS). The regulator and the Government build on progress made. They assume effective leadership, provide comfort to market players to invest into DFS and inspire trust with customers.Ghana disposes of a sound and competitive DFS market. The relevant players interact on a regular and effective basis both among each other as well as with the regulator. Telecommunication companies and financial institutions collaborate in order to offer accessible and affordable DFS to the population.

Principaux résultats attendus:   Support for the regulator in order for the latter to provide leadership on mobile money and on its vision of a cash-lite economy.Increase transparency and publicly available information on digital financial services by improving quality and accessibility of relevant data.Install a regular and effective interaction between market players and the regulator to deal with emerging issues on a transparent and constructive basis.Support the development of a sound digital financial services market.Facilitate interoperability of the market level by establishing clear and commonly accepted rules.Market demonstration with at least two market actors.

Direction/office fédéral responsable SECO
Crédit Coopération au développement
Partenaire de projet Partenaire contractuel
  • Société financière internationale

Budget Phase en cours Budget de la Suisse CHF   5'388'694 Budget suisse déjà attribué CHF   0 Budget y compris partenaires de projet CHF   7'172'310
Phases du projet Phase 10 01.02.2016 - 31.12.2021   (Phase en cours)