The relatively high financial exclusion ratios and the size of the information (undocumented) economy have been a source of concern for Nigerian and Ghanaian policy makers. The introduction and rapid growth of mobile telephony services after the deregulation of the telecommunications industry in the early 2000s witnessed a dramatic rise in teledensity ratios across West Africa. With access to mobile phones exceeding banks, the use of the mobile device as an economic tool to enhance financial inclusion has been pronounced by the regulatory licensing of mobile money operators and the introduction of a mobile money framework in Nigeria and more in-depth policy discussions about a mobile money framework in Ghana.

This study seeks to explore the utility of mobile money with a view to not only assess its application in the enhancement of financial inclusion, but also to: 1) help better tailor the current applications for poor end-users; 2) help in targeting specific unbanked poor end- users for specific existing or new mobile money products; 3) provide information which can be used by mobile money platform developers and providers to craft new, innovative and locally-tailored applications of mobile money; and 4) help identify specific cultural limitations that hinder the adoption and use of mobile money by the poorest segment of the population in both countries.