22% of Ghanaian Adults Borrow from Mobile Money Providers – World Bank Report

A recent report by the World Bank has revealed that 22% of adults in Ghana borrow from mobile money providers.

According to the 2025 Global Findex Report, 74% of Ghanaians are formal borrowers, and the rise in borrowing through mobile money accounts has driven an overall increase in formal borrowing between 2021 and 2024.

The report noted that while overall borrowing levels are similar by gender, borrowing from mobile money providers differs significantly.

In Ghana, women are 4 percentage points less likely than men to borrow from mobile money providers, while in Kenya and Uganda, the gaps are more pronounced, at 16 and 13 percentage points, respectively.

The report also highlighted the growing trend of digital credit, with 1% of adults in low- and middle-income economies borrowing through mobile phones without using traditional formal borrowing channels.

Sub-Saharan Africa is home to seven economies where at least 5% of adults report borrowing through mobile phones without formal borrowing.

The report noted significant disparities in mobile money borrowing between adults from the poorest 40% and wealthiest 60% of households by income.

These findings highlight the need for further research and analysis on the impact of mobile money and digital credit on financial inclusion and access to credit in Ghana and other developing economies.