Mrs. Theodora Asiamah holds an MPhil. in Agricultural Administration from the University of Ghana. She also holds a BSc. in Agricultural Science.

PHD TOPIC: DEMAND FOR SAVINGS AND INSURANCE SERVICES AMONG POOR URBAN HOUSEHOLDS IN THE GREATER ACCRA REGION.

The majority of Ghanaians in poor urban communities are engaged in informal economic activities. As a result, they receive their income on cash basis and do not operate accounts with financial institutions. Consequently, the ability to save by the poor is reduced. Also due to lack of access to social protection and security, they become vulnerable to financial risks. Following these, the potential demand for savings and insurance exists among the poor in the urban communities. Studies have shown that Microfinance, which evolved to provide financial services to low-income clients, has targeted poverty reduction through the provision of credit, neglecting services of savings and insurance, which are needed to complete the financial delivery to the poor. Attempts to explain the level of demand for savings and insurance by the poor is sparsely researched. The upsurge of Microfinance Institutions in the urban communities is evident. It is not clear if the supply of savings and insurance services meets the expectation of potential clients. The possible market barriers in the provision of financial services to the poor need to be explored. This study seeks to primarily identify the determinants of demand for savings and insurance services among the poor in Greater Accra Region. The GLSS5 indicates that only a third of Ghanaians have savings accounts while 0.3% of household expenditure is allocated for insurance. Thus a research on financial inclusion in Ghana is important.