Abstract:
This quantitative study investigated the effects of mobile money services on
the growth of SMEs in Ghana using SMEs in Tarkwa Nsuaem Municipality as
a case study. The study sought to answer the questions:which types of mobile
money services are SMEs currently aware of and use for their business?How
have mobile money services affected the sales revenue of SMEs; and what is
the level of service quality of mobile money services in the Tarkwa Nsuaem
Municipality? For this purpose, a questionnaire was developed and
administered to a sample of 150 SMEs owners using a convenience sampling
technique. The data was analysed using Statistical Package and Services
Solutions (SPSS). Findings were reported using means, frequencies, paired
sample t-test and standard deviations. The survey finding revealed that
although there was very high awareness of mobile money services, with
mobile money service providers- MTN, tiGo Airtel and Vodafon-in the
Tarkwa Nsuaem Municipality, adoption rate for sales purposes was very
insignificant. The survey data did not prove that proliferation of mobile
money services have impacted on sales growth among the selected SMEs. The
regression analysis proved that the correlation was weak (r=0.01) and it was
not surprising that the hypothesis was statistically not significant (p >.0005,
sig. =0.311), hence the conclusion that there is no effect of mobile money
services on growth of SMEs in Tarkwa Nsuaem. It is recommended that
mobile money service providers provide sensitisation on the effective use of
mobile money in business to boost the growth of SMEs. That is, more tailored
made products must be design by the telecommunication companies to
facilitate business transactions at reasonable cost.
