ReFinD has released the report “Firms and Digital Payments: Evidence from Censal Microdata,” providing the first census-level assessment of digital financial services (DFS) adoption among 1.8 million firms in Ghana.
Based on data from the 2024 Integrated Business Establishment Survey (IBES), the study explores key trends, drivers, and barriers to DFS adoption. It highlights widespread use of personal mobile money accounts, the growth benefits of merchant accounts, and challenges such as knowledge gaps, fraud concerns, and limited perceived returns.
Notably, it finds that female managers in male-owned firms can significantly boost digital adoption and revenue, especially in small, formal, service-sector businesses.
The report was launched on 8 April 2025 at ISSER, University of Ghana.