Digital Financial Services and Women Economic Empowerment in Ghana

Abstract

ABSTRACT This study employed the structural equation model with the maximum likelihood estimation technique to examine the effect of digital financial services on women economic empowerment in Ghana. Secondary data from the Ghana living standard survey round 7 was used for the study with a sample size of 11,308 women. The study found that, digital financial services (ATM, E-zwich, E-banking and mobile money) had significant relationship with socio-economic correlates such as education, autonomy, ICT skills, residence (rural/urban) and region among women in Ghana. The study also revealed that digital financial services had a significant effect on women economic empowerment, implying the enhancing effect digital financial services has on women economic empowerment. Considering the results, the study recommended that, policy makers and financial service providers should institute measures that enhance access to and utilization of digital financial products among women.