29. September 2022

2021: 68% of Ghanaians owned bank accounts placing country 5th in SSA – World Bank
Dr. Ernest Addison, Governor of BoG

Dr. Ernest Addison, Governor of BoG

About 68 percent of adult Ghanaians own a bank account – whether mobile money or regular banking account – as of December 2021.

This places Ghana at the 5th position among 25 countries in Sub-Saharan Africa, but 1st in West Africa.

According to the 2021 World Bank Findex Report, 41 percent of adult Ghanaians had bank accounts as of 2014.

This shot up to 58% in 2017 and subsequently by 10% percent to 68 percent in 2021.

The report said Ghana, Cameroon Liberia, and Senegal were some countries that saw at least a 10 percentage point growth in mobile money account ownership since 2017.

“In Ghana, the share of adults having an account at a financial institution remained mostly stagnant since 2017, yet mobile money account ownership increased to 60% from 39% in 2017, boosting overall account ownership by 11 percentage points”.

The report further said mobile money accounts have become an important method to save money in Sub-Saharan Africa, where 15% of adults use to deposit money—about the same share that saves at a bank or similar financial institution.

Also, over 30% of adults in Ghana, Kenya, and Uganda save money in a mobile money account. Meanwhile, about 1-in-3 mobile money account holders say they cannot use their account without help. Women are 5 percentage points more likely than men to need help operating their mobile money accounts

The list of countries surveyed in 2021 include Benin, Burkina Faso, Cameroon, Congo, Rep., Côte d’Ivoire, Gabon, Ghana, Guinea, Kenya, Liberia, Malawi, Mali, Mauritius, Mozambique, Namibia, Nigeria, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia, Zimbabwe.


Mauritius 91 1st
South Africa 85 2nd
Namibia 81 3rd
Kenya 79 4th
Ghana 68 5th
Gabon 66 6th
Uganda 66 6th
Zimbabwe 60 8th
Senegal 58 9th
Liberia 52 10th
Tanzania 52 19th









SourceJoy Business