In the past few years, the unprecedented growth of mobile financial services in sub-Saharan Africa has defied all expectations. While Kenya is often cited as a leading example of digital transformation, Ghana has recently become the fastest-growing mobile money market in Africa, with registered accounts increasing six-fold between 2012 and 2017.
The country’s experience provides a fresh perspective on its digital transformation and demonstrates that technology can help modernise the financial system as well as also support greater financial inclusion.
In Ghana, mobile financial services are mostly used by those poorly served by the traditional financial sector. The 2017 Global Findex database indicates that access to formal financial services rose from 41% of adults in 2014 to 58% in 2017].
This is largely attributable to mobile accounts, with 20% of digital-wallet users being previously unbanked. These now represent about 40% of all account holders, compared to 13% in 2014.
A team of 80 security agents tasked with protecting the electricity grid was ambushed onMonday in Shiroro, Niger State, by…
Cryptocurrency becomes the new thing in Africa. People shift for stable alternatives aftertheir unstable local currencies. Many people believe Donald…
UAE has also distributed 30,000 food baskets to Sudanese refugees in Kiryandongo refugeecamp Uganda to benefit nearly 100,000 affected people.Aid…
The trade volume between Türkiye and 54 African countries has grown sevenfold, reaching $37 billion from 2003 to 2023, Yılmaz…
The final round of the 2025 Africa Cup of Nations qualifying matches was held this week with Tanzania, Botswana and…
'Masterpieces' Lucas Moripe passed away at his Atteridgeville home on Tuesday at his senior year of 71. His style of…
This website uses cookies.