72% of Ghanaians feel safe saving in mobile money wallets – Afrobarometer

An Afrobarometer survey has indicated that only 72 percent of Ghanaians feel safe saving in their mobile money wallets with 58 percent feeling banks are a very safe place to keep their investments.

The report also revealed that only 25 percent of Ghanaians felt banks were somewhat safe with 8 percent and 7 percent respectively saying banks were not safe and not safe at all.

It added that 61 percent of Ghanaians did not feel safe saving with Saving and Loans institutions indicating they are either not safe or not safe at all.

Despite the crisis in the financial sector over the last two years, the report suggested that many Ghanaians, however, remain confident in banks.

Microfinance institutions on the hand, were given a vote of no confidence with 64 percent saying they are either not safe or not safe at all.

On traditional susu collectors, the report said many Ghanaians considered it to be generally unsafe and rather opted for saving in mobile money wallets.

Sample size of the survey in Ghana was 2,400 adult citizens and sentiments remained consistent over various demographics ranging from age, education level, gender and residence among others.