Financial Inclusion and Savings Promotion in Eastern Ghana 2013-2014
Baseline and Endline Surveys
Even though individuals throughout Africa employ numerous informal savings mechanisms, only a quarter of individuals in Sub-Saharan Africa have bank accounts, and these savers only keep a small proportion of their savings in these accounts. Yet banks could provide more secure and private storage of funds, and offer positive interest rates. The World Bank and North Volta Rural Bank jointly designed this study with the objective of testing the impact of new banking products and services designed to attract more (and lower income) customers, and to attract a higher percentage of individuals’ savings. The new services tested as part of this study included a savings deposit collection service in which collectors visit customers regularly at home or work to collect savings deposits, and a separate service in which customers were given lockboxes. These were tested alone, and in combination. This study was designed to ensure the operational viability of the deposit collection and lockbox services for NVRB, and to make a preliminary assessment of the impacts of these services on customers and NVRB before further scaling-up these services within NVRB.
192 individuals completed the baseline survey, and 174 of these individuals completed the endline survey. The study sample is comprised of both banked and unbanked individuals, and is half male and half female.
Kind of data
Sample survey data [ssd]
The study sample is comprised of individuals who at the time of the baseline survey lived or worked within one kilometer of North Volta Rural Bank's Nkwanta branch, which is located in the small town of Nkwanta. Nkwanta is the capital of Nkwanta South District, and is located in the Volta Region of Ghana.
Unit of analysis
Producers and sponsors
University of Ghana
Africa Region Gender Innovation Lab
Innovations for Poverty Action (IPA)
North Volta Rural Bank (NVRB)
A total of 192 individuals were enrolled in this study. So that the study might be able to observe whether the services had different impacts based on the type of customer that was participating, different types of individuals were recruited to participate in the study, as follows:
· Individuals who already had an individual savings account with NVRB: 96.
· Individuals who did not have a bank account with NVRB, but who did have a bank account with another bank: 48
· Individuals who did not have a bank account at any bank: 48
Within each of the three groups, half were female, and half were male.
All study participants also met the following eligibility criteria:
· Live or work within a one kilometer radius of the NVRB Nkwanta branch.
· Earning an income and self-employed in non-agricultural activities. (Excluded occupations included salaried and wage workers, pensioners, students, apprentices, seasonal income earners such as all kinds of farming, pastors, traditional rulers, natural resource extraction such as fishermen and hunters,
road construction, afforestation, waste management, and laborers.)
· I nterested in receiving the services being offered, and willing to pay the collection service fee.
As part of the study, study participants were randomly assigned to the following six treatment arms:
· A1: No deposit collection & No lockbox (32 individuals) - pure control group
· A2: No deposit collection & Lockbox (32 individuals)
· B1: Daily deposit collection & No lockbox (32 individuals)
· B2: Daily deposit collection & Lockbox (32 individuals)
· C1: Weekly deposit collection & No lockbox (32 individuals)
· C2: Weekly deposit collection & Lockbox (32 individuals)
The randomization was stratified by type of customer, so that the different types of customer would be evenly spread across the following six arms.
A - Survey information
B - Savings
C - Debt
D - Expenditures
E - Income
F - Demographics; intra-household decision-making; financial shocks; housing quality
G - Household roster
H - Views on the lockboxes and deposit collection services
Use of the dataset must be acknowledged using a citation which would include:
- the Identification of the Primary Investigator
- the title of the survey (including country, acronym and year of implementation)
- the survey reference number
- the source and date of download
N. Buehren et al., Financial Inclusion and Savings Promotion in Eastern Ghana 2013-2014 - Baseline and Endline Surveys. Washington, DC: World Bank. Ref: GHA_2013-2014_FISP-EG_v01_M. Accessed at [url] on [date]
Disclaimer and copyrights
The user of the data acknowledges that the original collector of the data, the authorized distributor of the data, and the relevant funding agency bear no responsibility for use of the data or for interpretations or inferences based upon such uses.