The report published by KPMG and titled ‘In Pursuit of Value’ explored parallels across the Nigerian and Ghana financial markets such as the increased digital adoption, high mobile money penetration in Ghana and the growing role of Fintechs in the Nigerian banking landscape.
The report noted “In Nigeria, the cash crunch that characterised the banking landscape and wider economy triggered significant downtimes and deterioration of banking service levels”
“At the time, there were concerns about the potential long-term impact on trust in the industry and the implications for financial inclusion. However, our research does not suggest that this concern has not materialised to date. Instead, we observed a significant shift from ATMs to agency banking.”
