Tag: fintech summit
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BoG sanitizes fintech industry with new laws
The Bank of Ghana says it will strictly enforce the yet to be passed Payment Systems to sanitize the financial sector. The central bank has bemoaned what it says is the proliferation of fintechs in Ghana’s financial system. Currently, there are seventy-one fintechs providing solutions to businesses and individuals. Following the impact of cyber fraud…
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Citi Business Festival: GhIPSS urges capping cash withdrawals at banks
The Ghana Interbank Payment and Settlement Systems (GhIPSS) has made a strong case for a cap to be placed on all cash withdrawals at banks. It follows appeals to reduce the use of cash to minimize the number of attacks associated with cash transactions. The government also hopes to achieve a cashlite economy by 2020. In…
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SMEs skeptical of mobile money services (Audio)
Businesses are still skeptical of the use of mobile money despite the boom in patronage of the service. Citi Business News’ checks with some small scale business owners show mixed reactions to the use of mobile money services. This means more needs to be done to increase patronage. In the build up to the Financial…