Tag: fintech
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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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What does 2023 hold? Predictions in payments for the year ahead for Africa
The sharp economic slowdown brings new difficulties ahead for Africa – including high international food and fuel prices, financial shocks from the tightening of monetary policy in advanced economies, and increased food insecurity in various parts of the region. All of this follows the economic and social effects of the pandemic. 2023 is going to…
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Hubtel secures full license to operate as an enhanced payment services provider
Ghana’s leading payments, quick commerce, and messaging technology company, Hubtel, has received a full and final license from the Bank of Ghana (BoG) to operate as a Payment Service Provider (Enhanced). In September 2019, the Bank of Ghana, in a notice to banks and non-bank financial institutions, stated the need for institutions such as financial…
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appsNmobile receives BoG’s enhanced payment service provider license
appsNmobile Solutions, a fast-growing Ghanaian payment service provider, has been licensed as a Payment Service Provider Enhanced (EPSP) by the Bank of Ghana. The award of the license follows the passage of the Payment Systems and Services Act, 2019 (Act 987) which mandates all payment service providers to meet a set minimum capital requirements, governance…
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Bank of Ghana, EMTECH launches new regulatory sandbox to promote FinTechs
In line with its commitment to develop an enabling and inclusive regulatory environment that promotes FinTechs and support innovation, the Bank of Ghana in partnership with EMTECH Service LLC, has launched a regulatory and innovation sandbox pilot. According to the Central Bank, the regulatory and innovation sandbox is a supportive and controlled policy environment that…
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Clara Arthur writes: Embracing financial technology; the time is now
I remember early attempts by companies like Clydestone, CoreNett, SoftTribe, eTranzact, IT-Consortium just to mention but a few who saw the vision and the power of technology to improve financial services in the early 2000’s. These early bird tech companies worked in diverse ways, to provide financial technology services to banks. These attempts though were…
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BoG creates Fintech & Innovation office to deepen regulation of e-payment channels
The Bank of Ghana has established a new FinTech and Innovation Office to drive its cash-lite, e-payments and digitization agenda. According to the central bank, the emergence of FinTech solutions has introduced significant complexities that require it to focus, understand and supervise effectively. Among the role of the new FinTech and Innovation Office will be…
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BoG issues first Dedicated Electronic Money Issuer license to Zeepay
In accordance with the Payment Systems and Services Act, 2019 (Act 987), the Bank of Ghana (BoG), has authorized its first Dedicated Electronic Money Issuer license, to a local Financial Technology (Fintech) company, Zeepay Ghana Ltd. This is part of efforts to deepen financial inclusion in the country, the Bank of Ghana announced in a…
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Korba launches all-inclusive *365# short-code for payments etc:
Korba, a leading Ghanaian Fintech brand owned and operated by Halges Financial Technologies Ltd, has launched an all-inclusive and innovative shortcode that allows users to transfer funds, pay bills, purchase airtime, data bundles among others. The newly introduced *365# promises to be a game-changer in Ghana’s financial services eco-system – providing users with utmost convenience…
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ACET recommends tax exemptions on the importation of digital financial equipments
The Africa Center for Economic Transformation is recommending tax incentives such as a two year tax holiday on the importation of equipment used in building digital financial services. This follows a study by the Center which has revealed that although mobile phones and solar panels are low-cost innovative tools that can help developing economies such…