Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Accounting and Finance Department

Includes bibliography (sheets 46-52)

ABSTRACT The emergence of mobile money service has been of great benefit to many small-medium enterprises. Its convenience continues to stimulate its use, as compared to the traditional means of settling financial transactions. Consequently, this research focused on finding the contribution that mobile money service made on the growth of businesses (SMEs) in the Tema municipality. The research sampled 100 respondents due to time constraint. This consisted of ninety (90) self-owners/managers and ten (10) patrons of mobile money services. The study used questionnaires as the main instrument for data collection. The questioning technique majorly employed the five-point Likert Scale in the data collection process. Survey data was analysed using the descriptive statistical tools namely; the means, standard deviation and percentages. The study established among other things that, Momo services significantly contribute to the growth of SME business through enhanced efficiency in micro transactions, growth in profit, making transactions faster and relatively secure. Nonetheless, the charges on transactions made it expensive to use and activities of hackers/fraudsters backtracked the strides made by the MoMo concept. Consequently, the study recommended that service providers consider no/low charges on transactions and provide SMEs/patrons with access to call-in customer service representatives when they encounter problems using mobile money service. Again, MoMo service providers and government must continue to collaborate to intensify public education on MoMo fraud and clamp down the activities of fraudsters.