Drivers of financial inclusion in Ghana: Evidence from microentrepreneurs in the Wa Municipality of the Upper West Region

Figures & data

Table 1. Definition and variable measurement

Variable	Definition	Unit of measurement	Sign
Dependent
Bank	Access to financial services	Dummy (Yes=1, 0= otherwise)
Independent
Sex	Sex of respondent	Dummy (Male = 1, 0 = Female)	±
Age	Age of Respondent	Years	+
Edu	At least basic education	Dummy (Yes = 1, 0 = otherwise)	+
Religion	Religion	Dummy (Christianity = 1, 0 = Islam)	±
Status	Status in business	Dummy (Owner = 1, 0 = Employee)	±
Distance	Distance to bank	Kilometers	-
Loan	Awareness of loan service	Dummy (Aware = 1, 0 = not aware)	+
Start_up	Firm in startup stage	Dummy (Yes = 1, 0 = otherwise)	+
Bus_Age	Business age	Years	+
Registration	Registration status	Dummy (Registered = 1, 0 =otherwise)	+
F_statement	Preparation of Financial statement	Dummy (Yes = 1, 0 = otherwise)	+

Source: Author’s Construct (2020)

Table 2. Descriptive statistics

Characteristic	Frequency	Percent
Gender
Male	124	62.0
Female	76	38.0
Religious status
Christianity	54	27.0
Islam Others	146 0	73.0 .0
Educational status
Basic	54	27.0
Secondary	76	38.0
Tertiary None	33 37	16.5 18.5
Others	0	.0
Marital status
Single	70	35.0
Married	122	61.0
Divorced	1	.5
Separated/Widowed	7	3.5
Status in Business
Own business	157	78.5
Employee	43	21.5
Total	200	1.0

Table 3. Type of business

Type of business	Frequency	Percent
Computers	21	1.5
Construction	12	6.0
Financial services	25	12.5
Food and beverages	41	2.5
Provisions	49	24.5
Clothing and textile	28	14.0
Barbering and hairdressing	24	12.0
Total	200	1.0

Table 4. Probit regression estimates of drivers of financial inclusion

Variables	Coef.	Z	[95% Conf.	Interval]	Marginal Effect
Sex	−0.014 (0.243)	−0.06	−0.491	0.463	−0.014
Age	0.017 (0.018)	0.92	−0.019	0.053	0.017
Edu	0.096 (0.306)	0.31	−0.504	0.697	0.096
Religion	−0.481 (0.265) *	−1.81	−1.001	0.039	−0.481*
Status	−0.153 (0.320)	−0.48	−0.781	0.475	−0.153
Distance	−0.022 (0.059)	−0.38	−0.138	0.093	−0.022
Loan	0.653 (0.336) *	1.94	−0.006	1.313	0.653*
Start_up	0.415 (0.294)	1.41	−0.161	0.991	0.415
Business_age	−0.044 (0.033)	−1.32	−0.109	0.021	−0.044
Registration	0.813 (0.411) **	1.98	0.008	1.619	0.813**
F_statement	0.699 (0.283) **	2.47	0.144	1.254	0.699**
_cons	−0.370 (0.710)	−0.52	−1.762	1.021	−0.370
Observation = 200 LR chi^2(11) = 20.49; Prob > chi^2 = 0.0391
Log likelihood = −77.689 Pseudo R^2 = 0.1165

*=significant at 10%; **=significant at 5%. The standard errors are indicated in parenthesis.

Data availability statement

The data supporting this study are available from the corresponding author, JT, upon request.