By Ernest Bako WUBONTO The Ghana Revenue Authority (GRA) has emphasised the importance of sustaining the Electronic Transaction Services Levy (e-levy), citing its significant contribution to the nation's revenue. With the e-levy generating GH₵1.19billion in 2023, surpassing its target by GH₵83.15million, the GRA has urged stakeholders to refrain from plans to...
Financial institutions have been urged to boldly showcase ACH Direct Credit Near Real Time (NRT) services on their digital platforms to facilitate easy access for customers. Highlighting and appropriately labelling the NRT option, will raise awareness among customers about this payment service, encouraging its utilization. Typically, banks list various digital...
By Ebenezer Chike Adjei NJOKU The total number of active mobile money agents grew by 21 percent to 608,000 in 2023, the recently FinTech Sector Report for 2023 published by the Bank of Ghana (BoG) has shown. The figure represents approximately 88 percent of the 688,000 people employed by the state....
Africa’s global bank, United Bank for Africa (UBA) Plc, has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximising the benefits derived from the mining and oil sectors. To this end, the bank is poised to collaborate with the Economic Community of...
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, is launching SOLV Ghana, a business-to-business (B2B) online marketplace that offers micro, small, and medium enterprises (MSMEs), short-term invoicing financing, buy now pay later services, and business loans via a trusted marketplace of verified buyers and sellers. “At SOLV, our...
By Effie AMISSAH The banking industry underpins the financial services industry in the country. Regulated by the Bank of Ghana, the industry provides an avenue where cash, credit and other financial transactions for both individuals and businesses are accessed. According to the 2023 Price Water House Coopers Banking Survey Report, the...
Advans Ghana Savings & Loans Ltd has embarked on a pioneering initiative to bolster its clients' resilience to climate change, demonstrating a commitment to combatting its adverse effects. This effort stems from the company's proactive stance to evaluate climate change impacts on its clientele and reinforce their ability to withstand...
By Joshua Worlasi AMLANU & Ebenezer Chike Adjei NJOKU Amid heightened corporate demand and persistent foreign exchange (FX) pressure, the cedi continues to grapple against major trading currencies, reflecting mounting concerns over inflationary pressures and liquidity dynamics. This is despite the over US$106.10million injection into the FX market through the Bank...
Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, has reaffirmed the bank’s commitment to women’s empowerment through deliberate interventions. Mr. Asomaning said this at the coronation of Manye Naa Amorkor Shikafutru I and the official launch of the ‘Girl Power Project’ on Saturday, February 24, 2024 at Bukom Square in...
… 3i Africa Summit to address key growth and investment opportunities for Fintech ecosystem By Joshua Worlasi AMLANU In an effort aimed at propelling growth within the Fintech sector into a new era of growth, Dr. Ernest Addison, the Governor of the Bank of Ghana, has revealed that plans are...