Factors Affecting Port Users’ Behavioral Intentions to Adopt Financial Technology (Fintech) in Ports in Sub-Saharan Africa: A Case of Ports in Ghana

Ahmed Antwi-Boampong (), David King Boison, Musah Osumanu Doumbia, Afia Nyarko Boakye, Linda Osei-Fosua and Kwame Owiredu Sarbeng
Additional contact information
Ahmed Antwi-Boampong: Department of Electronic Systems, Aalborg University, 2450 Copenhagen, Denmark
David King Boison: Department of Logistics and Supply Chain, Ghana Communication Technology University, Tesano, Accra P.M.B 100, Ghana
Musah Osumanu Doumbia: Department of Procurement and Supply Chain Management, Accra Technical University, Accra P.O. Box GP 561, Ghana
Afia Nyarko Boakye: Department of Business Management, Ghana Communication Technology University, Accra P.M.B 100, Ghana
Linda Osei-Fosua: School of Graduate School and Research, Ghana Communication Technology University, Accra P.M.B 100, Ghana
Kwame Owiredu Sarbeng: School of Graduate School and Research, Ghana Communication Technology University, Accra P.M.B 100, Ghana

FinTech, 2022, vol. 1, issue 4, 1-14

Abstract: The study evaluated factors influencing port users’ intentions to participate in Financial Technology (Fintech) in the ports of Ghana. The study used non-experimental quantitative correlational design and the Extended Unified Theory of the Acceptance and Use of Technology (UTAUT2) as the theoretical foundation to assess whether performance expectancy (PE), behavioral intention (BI), effort expectancy (EE), social influence (SI), facilitating conditions (FC), hedonic motivation (HM), price value (PV), and habit (HT) were predictors of the intention of port users to participate in a Fintech program with age as a moderating factor. The sample comprised 407 individuals who work in the port industry and are between 18 and 64 years old; these were randomly selected through the SurveyMonkey platform. The study used principal component analysis (PCA), confirmatory factor analysis, and structural equation modeling to analyze and report the results. Findings show that PE, EE, and HT were predictors of the behavioral intention of port users to participate in a Fintech in the maritime and ports in Ghana. FC, SI, HM, and PV values could not predict BI for port users to enroll on a Fintech program. Neither did age have a moderating effect on the predictors variable influence on behavioral intention. This study offers a deeper insight into the adoption of Fintech in the port industry and sub-Saharan Africa. The findings can help researchers explain the variations in the UTAUT2 theoretical framework predictions relative to different sectors and disciplines. Researchers who intend to use the UTAUT2 theoretical framework to influence port users BI to enroll in the Fintech program will now consider PE, EE, and HT the most effective adoption factors. From a practical perspective, the study will help managers and stakeholders in ports in Ghana and sub-Saharan Africa focus on the critical constructs as the first steps to implementing a Fintech program. On the other side, port users will also understand their role relative to performance expectancy, effort expectancy, and the habit to cultivate toward Fintech.

Keywords: fintech; maritime; ports; adoption; Ghana; developing country (search for similar items in EconPapers)
JEL-codes: C6 F3 G O3 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:gam:jfinte:v:1:y:2022:i:4:p:27-375:d:962017

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