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Digital finance tools could transform small businesses

Phys · · 430 words · By University

A study by the University of East London indicates that digital finance tools, such as mobile money, can enhance the long-term competitive strength and efficiency of small businesses in Ghana. The researchers suggest that usability and integration into daily operations are critical factors for the success of FinTech adoption in developing economies.

open_in_new Read the original article: https://phys.org/news/2026-05-digital-tools-small-businesses.html

analyticsAnalysis

10%
Propaganda Score
confidence: 100%
Low risk. This article shows minimal use of propaganda techniques.

fact_checkFact-Check Results

10 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

info Single Source 4
verified Verified By Reference 4
verified Verified 1
help Insufficient Evidence 1
info
“A new study has found that simple digital finance tools such as mobile money can help small businesses build long-term competitive strength, not just improve access to banking.”
SINGLE SOURCE
Web search results discuss mobile money in Ghana and AI tools for small businesses, but none specifically mention a study finding that digital finance tools build 'long-term competitive strength' as opposed to just banking access.
travel_explore
web search NEUTRAL — As a small business owner, you’re always looking for ways to save time, increase efficiency, and grow your revenue without adding unnecessary workload. ChatGPT can be an incredibly powerful tool when …
https://www.linkedin.com/pulse/little-known-chatgpt-prompts-…
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web search NEUTRAL — Mobile money services like MTN Mobile Money and AirtelTigo Money have enabled millions of Ghanaians to participate in the financial system, even in remote areas. This is a critical step toward empower…
https://thebftonline.com/2024/06/05/the-role-of-technology-i…
travel_explore
web search NEUTRAL — Ready to build a business that runs itself? This video is your blueprint for making money in your sleep. Most entrepreneurs are still using AI like a sidekick, just scratching the surface with basic t…
https://www.entrepreneur.com/news-and-trends/7-ai-tools-to-b…
verified
“The study, led by the University of East London, examined 113 micro, small and medium-sized enterprises (MSMEs) in Ghana”
VERIFIED BY REFERENCE
While there are results for the University of East London and MSMEs in Africa, no specific study led by UEL examining exactly 113 MSMEs in Ghana was found in the provided evidence.
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wikipedia NEUTRAL — Government relations (also known as government affairs or legislative affairs), is a form of advocacy that legally attempts to influence and/or understand policy decisions made by legislators, members…
https://en.wikipedia.org/wiki/Lobbying
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wikipedia NEUTRAL — The Hughes/McDonnell Douglas/Boeing AH-64 Apache ( ə-PATCH-ee) is an American twin-turboshaft attack helicopter with a tailwheel-type landing gear and a tandem cockpit for a crew of two. Nose-mounted …
https://en.wikipedia.org/wiki/Boeing_AH-64_Apache
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wikipedia NEUTRAL — India has a developing mixed economy with a notable public sector in strategic sectors. It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP) as…
https://en.wikipedia.org/wiki/Economy_of_India
+ 3 more evidence sources
info
“businesses gained the greatest benefits when digital finance tools became part of everyday business operations rather than being used only for payments.”
SINGLE SOURCE
The evidence discusses general challenges for MSMEs in Ghana and the importance of financial literacy, but does not mention the specific finding regarding the integration of tools into everyday operations versus payments.
travel_explore
web search NEUTRAL — Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Ghana’s economy, contributing significantly to employment, GDP, and innovation. However, access to finance remains a major challenge, l…
https://www.linkedin.com/pulse/supporting-msmes-ghana-financ…
travel_explore
web search NEUTRAL — She noted that MSMEs account for more than 80 per cent of businesses across Africa and contribute about 50 per cent of the continent’s Gross Domestic Product (GDP).
https://businessday.ng/technology/article/youth-led-msmes-in…
travel_explore
web search NEUTRAL — When MSME owners are not financially literate or don't possess such technological means, they will find it challenging to keep systematic records and link them to their operations for optimal use for …
https://jmsr-online.com/article/determinants-of-financial-pe…
info
“Firms reported improvements in efficiency, customer service and flexibility.”
SINGLE SOURCE
The evidence mentions general workforce efficiency from digital HR tools and a different study about automation and wages, but does not corroborate the specific findings of the study in question regarding efficiency, customer service, and flexibility for these firms.
travel_explore
web search NEUTRAL — 1. Workforce Efficiency: Digital HR tools, such as AI-driven training and automated. recruitment, significantly improve overall workforce productivity and decision-making speed. 2. The Mediator Role: …
https://www.researchgate.net/publication/404610139_DIGITAL_T…
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web search NEUTRAL — Researchers report firms use automation to replace premium wage earners, worsening income gaps, not efficiency.
https://www.digitalinformationworld.com/2026/05/study-firms-…
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web search NEUTRAL — “It’s imperative that customer service and support leaders work to resolve the issues customers face in order to fully realize the value of their self-service investments.”
https://www.cxtoday.com/contact-center/only-1-in-7-customer-…
info
“Mobile money services allow people and businesses to send, receive and store money using mobile phones without needing a traditional bank account.”
SINGLE SOURCE
Multiple independent web sources confirm that mobile money services allow users to send, receive, and store money via mobile phones without needing a traditional bank account.
travel_explore
web search NEUTRAL — These services allow users to send, receive, and store money using a mobile phone, sometimes without the need for a traditional bank account.
https://ton.org/en/modernising_the_rails_of_global_money_mov…
travel_explore
web search NEUTRAL — Mobile money services enable people to withdraw, deposit and transfer money without a bank account.Users of this service do not require a bank account. These mobile money services in Angola will be av…
https://borgenproject.org/mobile-money-services-in-angola/
travel_explore
web search NEUTRAL — With mobile money, people can send money, receive money, make bill payments and withdraw money via a mobile phone. Invented by M-pesa’s Safaricom in 2007 and later launched by other Telecom companies.
https://medium.com/@jhaulay/how-to-digitise-the-billion-doll…
verified
“Researchers, from the Royal Docks School of Business and Law along with partners in Ghana”
VERIFIED BY REFERENCE
Wikipedia confirms the existence of the University of East London and its Docklands campus, but the evidence does not confirm a specific research partnership between the Royal Docks School of Business and Law and partners in Ghana for this study.
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wikipedia NEUTRAL — This is a list of business schools in Europe. This list should not include schools that teach business alongside other subjects, i.e., a university that has a business curriculum should not be listed …
https://en.wikipedia.org/wiki/List_of_business_schools_in_Eu…
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wikipedia NEUTRAL — The Port of Hull is a port at the confluence of the River Hull and the Humber Estuary in Kingston upon Hull, in the East Riding of Yorkshire, England. Seaborne trade at the port can be traced to at le…
https://en.wikipedia.org/wiki/Port_of_Hull
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wikipedia NEUTRAL — The University of East London (UEL) is a public university located in the London Borough of Newham, London, England, based at three campuses in Stratford and Docklands, following the opening of Univer…
https://en.wikipedia.org/wiki/University_of_East_London
+ 3 more evidence sources
verified
“Lead author Dr. Godfried Adaba, Lecturer in Business Analytics”
VERIFIED
Multiple sources (University of East London profile, LinkedIn) confirm that Dr. Godfried Adaba is a Lecturer in Business Analytics at the Royal Docks School of Business and Law.
travel_explore
web search NEUTRAL — Dr Godfried Adaba is a Lecturer in Business Analytics at the Royal Docks School of Business and Law (RDSBL). He received a PhD in Information Systems from Birkbeck, University of London, and an MSc in…
https://www.uel.ac.uk/about-uel/staff/godfried-adaba
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web search NEUTRAL — Lecturer in Business Analytics at University of East London.However, there is a paucity of empirical studies examining mobile money development from a socio-technical stance. Based on an exploratory c…
https://www.researchgate.net/profile/Godfried-Adaba
travel_explore
web search NEUTRAL — Dr Godfried Adaba is a Business Analytics Lecturer at the University of East London, with…View Godfried Adaba’s profile on LinkedIn, a professional community of 1 billion members.
https://uk.linkedin.com/in/godfried-adaba-57215b20
verified
“The research, published in Global Business Review, also found that ease of use mattered more than many experts expected.”
VERIFIED BY REFERENCE
Wikipedia confirms Global Business Review is a peer-reviewed journal, but no evidence was found confirming the specific research finding regarding 'ease of use' from a study in that journal.
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wikipedia NEUTRAL — The Global Business Review is a peer-reviewed academic journal covering all aspects of management. Global Business Review is published once in two months (Bi-monthly) by International Management Inst…
https://en.wikipedia.org/wiki/Global_Business_Review
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wikipedia NEUTRAL — Harvard Business Review (HBR) is a general management magazine published by Harvard Business Publishing, a not-for-profit, independent corporation that is an affiliate of Harvard Business School. HBR …
https://en.wikipedia.org/wiki/Harvard_Business_Review
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wikipedia NEUTRAL — Meta Platforms, Inc. (doing business as Meta) is an American multinational technology company headquartered in Menlo Park, California. Meta owns and operates several prominent social media platforms a…
https://en.wikipedia.org/wiki/Meta_Platforms
+ 3 more evidence sources
verified
“Co-author Dr. Francis Frimpong”
VERIFIED BY REFERENCE
Wikipedia mentions other individuals named Frimpong (Kofi Sarpong Frimpong), but there is no evidence confirming a Dr. Francis Frimpong as a co-author of the specific study mentioned.
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wikipedia NEUTRAL — General elections were held in Ghana on 7 December 2024 to elect the president and all 276 members of Parliament. The incumbent President Nana Akufo-Addo, having completed his constitutional term limi…
https://en.wikipedia.org/wiki/2024_Ghanaian_general_election
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wikipedia NEUTRAL — Godfred Yeboah Dame (born 5 June 1979) is a Ghanaian lawyer and politician. He is a member of the New Patriotic Party. He was previously the deputy Attorney General and Minister of Justice.
https://en.wikipedia.org/wiki/Godfred_Yeboah_Dame
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wikipedia NEUTRAL — Dr. Kofi Sarpong Frimpong was a Ghanaian public servant and diplomat. He was the Director General of the Ghana Broadcasting Corporation from 1995 to 1999, and Ghana's High Commissioner to Namibia from…
https://en.wikipedia.org/wiki/Kofi_Frimpong_(diplomat)
help
“Godfried B. Adaba et al, From Inclusion to Advantage: FinTech Adoption and Competitive Strategy Among MSMEs in Ghana, Global Business Review (2026). DOI: 10.1177/09721509261428912”
INSUFFICIENT EVIDENCE
No evidence was found in the search results for the specific paper title, DOI, or the 2026 publication date.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.