Ghana has, over the past few years, experienced the trend of fast-rising fintech companies in and outside Ghana. It is estimated that there are over 70 fintech companies in Ghana.
Third, the Ministry of Finance, Minister of Foreign Affairs and Regional Integration, and Bank of Ghana, together with their development partners like the World Bank, need to come to a judgment as to whether or not remittances are likely to be a permanent phenomenon in Ghana’s Balance of Payments (BoPs). Drawing on the experience of other countries which have managed significant inflows of remittances (Bangladesh, El Salvador, Jordan) could be an important starting point. Also, conducting a comprehensive survey to assess the actual scale of remittances and labour migration would help the authorities develop a well-defined strategy to maximize the benefits of remittances while minimizing any negative repercussions.
Ghana s digital financial services industry, most notably the market for mobile money services, has grown significantly during the pandemic. To achieve full digital financial inclusion, however, the country still must build capacity, skills, trust, and security.
Digital Financial Inclusion and Security: The Regulation of Mobile Money in Ghana carnegieendowment.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from carnegieendowment.org Daily Mail and Mail on Sunday newspapers.
Kwami Ahiabenu, II (Ph.D.) With a projected global Fintech market value estimated at $16.65 Trillion over 2022 – 2028[1], the Fintech sector is an exciting area with a lot of potential for emerging economies, including Ghana. Furthermore, it promises to ensure greater participation in the formal financial system; the…