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Impact of Financial Technology on Financial Inclusion, the Effect of Rules and Regulations: The Case of Ghana

Author

Listed:
  • KhuFrank Boateng Agyei
  • Nirjhar Nigam
  • Khodor Shatila

    (ICN Artem Business School, Nancy, France)

Abstract

Financial inclusion remains a significant challenge in Ghana; many of the population in hard-to-reach areas lack access to formal banking services. This study investigates the impact of fintech on addressing this issue, considering ethics, rules, and regulatory dimensions shaping the effectiveness of fintech, relying on the Technology Acceptance Model. A quantitative research approach was employed, and a structured questionnaire was used to gather data from a sample of 400 respondents across various demographic groups in Ghana. The findings revealed that Fintech adoption is positively associated with improved financial inclusion. However, rules, regulations, data privacy, and fair lending practices emerged as significant concerns.

Suggested Citation

  • KhuFrank Boateng Agyei & Nirjhar Nigam & Khodor Shatila, 2025. "Impact of Financial Technology on Financial Inclusion, the Effect of Rules and Regulations: The Case of Ghana," The African Finance Journal, Africagrowth Institute, vol. 27(1), pages 1-12.
    • Handle: RePEc:afj:journl:v:27:y:2025:i:1:p:1-12
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-finj_v27_n1_a1
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    More about this item

    Keywords

    Fintech; Financial Inclusion; Interoperability; Ethics; Regulations;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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