Open AccessBanking and Wealth Creation for Stakeholders in Cameroon: An Exploratory Study
Author(s) -
Sunday Agbor Mbu,
Ayuketang Nso Maurice
Publication year - 2022
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2022.v18n9p38
Subject(s) - business , database transaction , financial services , finance , principal (computer security) , exploratory research , financial transaction , marketing , sociology , computer science , anthropology , programming language , operating system
This paper focuses on surveying the association between banking and wealth creation for customers, bankers, and owners of financial institutions in Cameroon. Questionnaires were administered using a random sampling technique, and this formed the principal instrument for data collection for the study. Eighty-five (85) questionnaires were sent out but only fifty-four (54) were returned and used for the analysis. Chi-square and Pearson Correlation were preferred and used to analyse the data for expediency. Results show no relationship between banking and wealth creation for customers in Cameroon. There is a certain claim that bankers and owners of financial institutions are wealthier than customers who provide the much-needed deposits that are used for investments. These results mean that customers bank not because they want to create wealth but because of the transaction services, safety, and security that financial institutions offer them.