Mobile money adoption is gradually bridging the financial inclusion gap in access to financial services between higher- vs. lower-income populations in many developing countries, including Ghana. However, levels of adoption differ within and between countries. Using a nationally representative survey sample of 5,220, this paper examines the determinants of mobile money adoption and use in Ghana and explores how they vary across demographic groups. The probit estimation showed perceived usefulness and social influence as drivers of adoption, while transaction costs inhibit adoption to varying degrees across demographic groups. The major challenges users faced were network failures and high service charges. Measures to enhance mobile network connectivity and liaise with service providers to reduce the service charges would boost adoption and financial inclusion.

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