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Socioeconomic determinants of the mobile money adoption process: the case of Togo

Komivi Afawubo (), Messan Agbaglah, Couchoro Mawuli and Tchapo Gbandi
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Couchoro Mawuli: Centre de Recherche et de Formation en Economie et Gestion (CERFEG); Faculté des sciences économiques et de gestion, Université de Lomé, Togo.
Tchapo Gbandi: Institut National de la Statistique et des Etudes Economiques et Démographiques (INSEED), Togo.

Cahiers de recherche from Departement d'Economique de l'École de gestion à l'Université de Sherbrooke

Abstract: Togo is lagging in the adoption of mobile money in the West African Economic and Monetary Union (WAEMU). The country’s share in the WAEMU is less than one percent of account opening, volume, and level of transactions. To understand this delay, it is essential to identify the socioeconomic factors that determine the adoption of the usage of mobile money services in Togo. Departing from the traditional literature which considers the adoption of mobile money as a one-shot phenomenon, this paper models the adoption of mobile money as a five-step process and identifies the likelihood of its adoption based on an Ordered Logit model applied on data from a survey conducted on a sample of 5,197 individuals. We find that social groups, including religious groups and student associations, are powerful vehicles for the adoption of mobile money in Togo. In addition, the ability to read and write and being a customer of a bank or a Microfinance Institution (MFI) positively impact the mobile money adoption process. In contrast, being unemployed decreases the likelihood to adopt mobile money. This paper stands as the first attempt to understand the adoption of mobile money in Togo. It also has the advantage to be in the class of the first empirical studies that model the adoption of an innovation, mobile money, as a process. Finally, the paper paves the way for strategies that make mobile money a tool that can contribute to raising the rate of access to financial services in Togo.

Keywords: Mobile money; Innovation; Adoption; Process. (search for similar items in EconPapers)
JEL-codes: O31 O33 Z13 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2017-04
New Economics Papers: this item is included in nep-ban, nep-mfd, nep-mon and nep-pay
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