The Institute of Statistical, Social and Economic Research (ISSER), in collaboration with the ReFinD Research Initiative (ReFinD) and the Ghana Statistical Service (GSS), is set to launch the first-ever comprehensive census on digital financial services (DFS) adoption among businesses in Ghana. The landmark report, which will be launched on April 8, 2025, at ISSER, presents findings from the Integrated Business Establishment Census (IBES) 2024.
About the Report
The report, based on data from the Integrated Business Establishment Census (IBES) 2024, offers an in-depth assessment of DFS adoption among 1.8 million firms across Ghana. It examines key trends, drivers, and barriers shaping digital payment usage, with insights into how factors such as firm size, sector, formality, gender, and geographic location influence adoption.
Key findings reveal that personal mobile money accounts are widely used, even among larger firms, while merchant accounts are associated with stronger business growth and formalization. However, challenges such as knowledge gaps, fraud concerns, and uncertainty about returns hinder broader adoption, especially among informal, agricultural, and female-owned enterprises.
Notably, the study highlights the potential of female managers in male-owned firms to drive revenue growth and digital financial adoption, particularly in small, formal, and service-sector businesses.
"This study provides critical insights into how businesses in Ghana are integrating digital financial services. It offers a data-driven foundation for policies and interventions that can expand financial inclusion and boost economic resilience,” Prof. Peter Quartey, Executive Director of ReFinD, said.
About the launch
The report will be launched under the annual ISSER Inclusive Finance Development Series (IIFDS), on the theme “Advancing Digital Payments for Businesses in Ghana”. It will convene key stakeholders—including regulators, industry leaders, and policymakers—to discuss the report’s insights and explore strategies to promote digital payments and move Ghana towards a cash-lite economy.
The event will feature a keynote address on Promoting an Evidence-Led Approach to Enterprise Development in Ghana. A panel discussion on Advancing Digital Payment Adoption by Enterprises – Learning from the Past, Innovating for the Future will bring together experts to reflect on past lessons and explore innovative strategies for the future. Additionally, there will be an interactive stakeholder engagement session, where industry leaders will deliberate on policy and practice recommendations aimed at enhancing digital financial inclusion in Ghana.
How to participate
The event will be held in a hybrid format, allowing for both in-person and virtual participation.
Onsite: Join us at ISSER on Tuesday, 8 April 2025, 10:00 AM – 12:30 PM GMT
Online: Register to access the Zoom livestream (link will be sent via email upon registration).
This landmark report provides invaluable insights into firms’ adoption of digital finance services in Ghana, offering a roadmap for inclusive financial development. Register now to be part of this important conversation on the future of digital payments in Ghana.
For more information, contact the ReFinD team at refind-isser.ug.edu.gh.