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The role of demand-side factors in financial inclusion in Ghana
Thesis (PhD)--University of Pretoria, 2020.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2022
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| _version_ | 1867613561336889344 |
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| access_status_str | Open Access |
| author2 | Derban, William |
| author_browse | Derban, William |
| author_facet | Derban, William |
| collection | Thesis |
| dc_rights_str_mv | © 2021 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Thesis (PhD)--University of Pretoria, 2020. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/84079 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:38:05.905Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/84079 The role of demand-side factors in financial inclusion in Ghana Derban, William Barnard, Helena ichelp@gibs.co.za Osei, Yaa Afi UCTD Financial in/exclusion social in/exclusion financial literacy un/banked Thesis (PhD)--University of Pretoria, 2020. To examine the barriers faced by the financially excluded, this research investigates financial inclusion as a sub-concept of social inclusion. The study assesses two demand-side barriers confronting the involuntarily financially excluded: financial literacy and self-efficacy. It thus goes beyond previous work that has sought to increase access to financial services by addressing supply-side barriers (specifically accessibility, affordability, availability and eligibility), mainly through various technological advances. Employing a preintervention/ post-intervention field experiment to measure the financial behaviour of individuals, the study monitored the use over a six-month period of an appropriately developed banking offering. Banking was offered to participants from rural areas near four distinct towns in Ghana, following the provision of training on financial literacy and selfefficacy. The results showed that regardless of whether participants received training in both, either or neither, they did not use their bank accounts for their financial transactions or savings. Secondarily, the results indicated that although financial literacy training may improve the financial knowledge of individuals, it does not necessarily lead to increased confidence on the part of the individual with regard to using formal financial services. In contrast, although the self-efficacy training (both on its own and together with financial literacy) did not translate into financial inclusion, participants reported that it had provided them with skills to guide their financial decision-making. Moreover, limited qualitative results obtained from participants indicated that they find the cash economy in which they operate adequate to their needs as members of their communities. As the main findings of this study suggest that developing the financial knowledge and attitude of the financially excluded, having addressed supply-side barriers of financial inclusion, still does not encourage the use of an appropriately developed banking offering, the explanation for the (non-)usage of banking products must lie elsewhere. The structure of an economy has to be seen as central to financial inclusion in that the influence of the cash economy and the informal economy mean that financial inclusion is not a precondition for social inclusion. This has serious implications for policy in sub-Saharan Africa. It may be that financial inclusion should be regarded as a result of an improving economic situation, rather than a contributory cause. Stakeholders should consider financial inclusion alongside and as part of policy initiatives designed to improve educational levels, digital skills, and a general understanding of the formal financial and, indeed, economic system. Gordon Institute of Business Science (GIBS) PhD Unrestricted 2022-02-21T08:47:48Z 2022-02-21T08:47:48Z 2022 2021 Thesis * http://hdl.handle.net/2263/84079 DOI: 10.25403/UPresearchdata.19108865 en © 2021 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Financial in/exclusion social in/exclusion financial literacy un/banked The role of demand-side factors in financial inclusion in Ghana |
| title | The role of demand-side factors in financial inclusion in Ghana |
| title_full | The role of demand-side factors in financial inclusion in Ghana |
| title_fullStr | The role of demand-side factors in financial inclusion in Ghana |
| title_full_unstemmed | The role of demand-side factors in financial inclusion in Ghana |
| title_short | The role of demand-side factors in financial inclusion in Ghana |
| title_sort | role of demand side factors in financial inclusion in ghana |
| topic | UCTD Financial in/exclusion social in/exclusion financial literacy un/banked |
| url | http://hdl.handle.net/2263/84079 |