Tag: financial inclusion
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Financial information penetration in Ghana now at 95% – Finance Ministry
The Deputy Minister of Finance, Abena Osei Asare has disclosed that financial information penetration in the country has shot up to about 95 percent. This according to her is a little over the 85 percent projections made by government for the year 2023. The Deputy Minister maintains that although the figures have gone up, many…
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Huawei Equips 500 Traders in FinTech
Huawei Ghana as part of its 2022 Women in Tech program, has equipped 500 traders in a Financial Technology workshop to bring them up to speed with advanced technologies and enable them transform their businesses digitally to suit current market trends. The training which was focused on helping female entrepreneurs and traders adopt technology in…
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Access Bank opens agency at Accra Technical University
Access Bank has commissioned a new Agency Banking network at the Accra Technical University (ATU) in Accra. This is in line with the Bank’s vision of becoming the world’s most respected African Bank through strategic expansion and retail dominance. Through this expansion drive, Access Bank has brought banking operations close to the doorsteps of the…
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Hubtel introduces SMS & Money to change the way businesses pay and get paid
In the latest version of its product upgrades, Ghana’s leading name in bulk SMS messaging, Hubtel, has released features to enable users to collect payment and send money to as many contacts at the same time via SMS. Head of Product at Hubtel, Patrick Asare-Frimpong, announcing this update, said, “In Ghana, mobile money and bank…
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Indigenous banks urged to leverage technology to reduce unbanked population – UMB CEO
Indigenous banks are being urged to leverage technology to reduce the number of unbanked Ghanaians in the system. According to the CEO of the Universal Merchant Bank Nana Dwemoh Benneh the time is right to tackle this long-standing issue within the financial sector. According to the World Bank’s Consultative Group to Assist the Poor (CGAP),…
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New policies launched to speed up financial inclusion for economic transformation
In its quest to increase financial inclusion from the current 58 percent to 85 percent by 2023, the Ministry of Finance has introduced the National Financial Inclusion and Development Strategy to help create economic opportunities and reduce poverty. This strategy is part of three new initiatives introduced by government to speed up financial inclusion and…
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Zenith Bank announces enhancement of its USSD *966# service
Zenith Bank Ghana has introduced its improved USSD service, *966#, to enable both account and non-account holders engage in various banking transactions seamlessly using their mobile phones, in the wake of the COVID-19 pandemic. According to the bank, the “exciting *966# service”, which is under the tagline – “Eazybanking for Everyone”, offers more accessible, affordable…
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Nalerigu: Some traders rely on ‘Susu’ boxes over financial sector challenges
Despite the presence of many financial institutions including banks and micro finance firms across the country, about 43 percent of Ghanaians are still not served by any formal finance firm. This led to the formulation of Ghana’s National Financial Inclusion and Development Strategy in 2018, to among other targets, increase access to formal financial services…
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![[Article] What half a decade of Fidelity Bank’s Agency Banking teaches about Financial Inclusion](https://citibusinessnews.com/wp-content/uploads/2019/10/Fidelity-Bank-MD-Julian-Kingsley-Opuni.jpg)
[Article] What half a decade of Fidelity Bank’s Agency Banking teaches about Financial Inclusion
Industry watchers may be tempted to see Agency Banking as a new wave of banking innovation but those who have been paying attention to the industry would know that Fidelity Bank has long tried, tested and honed excellence in the space of Agency Banking within the last half decade. Fidelity Bank was the first financial…
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Govt misses 2017 deadline for financial inclusion
Government has failed to meet its deadline for its key policies aimed at ensuring financial inclusion. The three; mobile money interoperability, national Identification system and Digital address system were key upon assumption of office of the NPP administration. But after chalking a year into their administration, the government has announced that it has postponed the…