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    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

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    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

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    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Use electronic payment system to reduce unbanked population—MD of GCB

bycitibusinessnews
March 31, 2016
in Banking And Finance, Top Stories
Acting MD of GCB, Mr Samuel Sarpong

Acting MD of GCB, Mr Samuel Sarpong

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The Managing Director of  the Ghana Commercial Bank (GCB), Mr. Samuel Sarpong has urged stakeholders in the financial sector to use electronic payment system as a means of reducing the unbanked population in the country.

Ghana’s unbanked population, according to the World Bank is around 70 percent, a situation some financial experts have described as discouraging.

Speaking to Citi Business News, Mr. Sarpong maintained that a substantial number of Ghana’s population would have been enrolled unto the banking system if integrated into electronic payment platforms.

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“We have a large number of unbaked individuals in the country, basically it calls for education and bringing them into the main stream banking”, he said.

Mr. Sarpong who made the assertion at the launch of a new product “GCB Lite Pay”, pointed out that electronic payment system would also reduce cash circulation among traders and protect them from armed robbers.

Calling for a pragmatic move to encourage the adoption of electronic payment system, Mr. Sarpong described as slow current methods used by stakeholders to attract the unbanked population.

He there encouraged the use of the GCB Pay Lite electronic payment platform which he emphasized is easy to use.

Speaking at the launch, the Board Chairman of GCB, Mr. Daniel Owiredu  reiterated the banks vision to improve its performance by impacting the lives of  Ghanaians through  sound investment.

He lauded the management team for leading the way to move Ghana into a cashless economy.

He was of the view that the simplified nature of the product would encourage the general public to adopt electronic payment system in business transactions.

By: Pius Amihere-Eduku/citibusinessnews/Ghana

 

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