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What drives behavioral intention of mobile money adoption? The case of ancient susu saving operations in Ghana

Eric Osei-Assibey (Department of Economics, University of Ghana, Accra, Ghana)

International Journal of Social Economics

ISSN: 0306-8293

Article publication date: 2 November 2015



The purpose of this paper is to provide insights into the ancient susu savings operation in Ghana and the behavioural intention or willingness of susu collectors and users to adopt a mobile money (MM) platform as part of their savings practices. More specifically, this study investigates factors that determine one’s intention to adopt the MM space as a savings channel, particularly in place of more traditional ways of saving among many people in West Africa.


Using field survey data from market traders and susu collectors in several local markets in Ghana, and applying Innovation Diffusion Theory (IDT) and Technological Adoption Model (TAM) conceptual frameworks, this study has produced some interesting findings. A logistic regression model was used for the empirical analysis.


Generally, among the susu collectors, the author found perceived risk, education level, relative advantage and the age of the collector to be statistically significant in influencing the behavioural intention of MM adoption. With respect to susu users, the author found such factors as trialability, observability or awareness, compatibility or education attainment. The study also finds the influence of the physical presence of the susu collector to be statistically significant in influencing one’s behavioural intention to accept MM. This was found to be the primary reason motivating susu users to honour their savings commitment.

Practical implications

These findings have important implications for MM uptake and the modernization of the susu operations in Ghana. While MM uptake remains significantly low, these findings suggest that the way to increase uptake is to create more awareness, embark on financial literacy programmes, and reduce mistrust and perception of risk of the MM platform. There is also the need for a regulator as the MM operators and their activities are not regulated by rules such as the reserve requirement of banks, as in the case of commercial banks that guarantees the safety of the savings of clients.


Literature on MM is growing in recent times. However, evidence on adoption as a saving channel to replace the traditional saving system is scanty, particularly within the African context.



The author wishes to sincerely thank IMTFI, University of California, Irvine for providing financial support to carry out this study. Preliminary findings of this paper were first presented at the 2012 IMTFI Annual Conference at the University of California, Irvine.


Osei-Assibey, E. (2015), "What drives behavioral intention of mobile money adoption? The case of ancient susu saving operations in Ghana", International Journal of Social Economics, Vol. 42 No. 11, pp. 962-979.



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