Degree Name

Master of Arts (MA)

Semester of Degree Completion


Thesis Director

Jeffrey S. Ashley


In 2008, the Central Bank of Ghana launched the first ever biometric money, e-zwich, in hopes of promoting branchless banking and financial inclusion. Despite been hailed as an innovative policy aimed at transforming the financial industry of the country e-zwich has yet to realize its full potential. A number of studies has been conducted to highlight the many challenges the system faces. This study was also aimed at seeking an explanation to the relative ineffectiveness or failures of e-zwich system but through a theoretical framework. Using Rogers' (2003) framework on the characteristics of innovation, the study seeks to explain why the e-zwich system continues to face significant challenges despite several attempts that have been initiated to help revamp it. Rogers argues that the decision to adopt innovation depends on the innovation's relative advantages, compatibility, complexity, trialability and observability and in essence, the success of the innovation dwells on these characteristics. Therefore, the study attempts to investigate if e-zwich as an innovation exhibited these characteristics prior to it been adopted by the Central Bank.