Kenya, a pioneer in mobile money, on Thursday began selling the first ever government bonds via mobile phone, allowing anyone from teachers to shop owners to invest and fund infrastructure projects. The bond is named M-Akiba, which means “mobile savings” in Swahili, and was launched with a value of 150 million shillings (1.3 million euros, … Read more
Standard Chartered Bank has introduced a new way of easy banking for its loyal customers with a mobile app dubbed, “SCMobile”. Speaking at a press briefing in Accra, Retail Banking Officer at Standard Chartered Bank, Henry Baye, said the mobile app has been in existence for quiet long and doing great for customers. According to … Read more
Ecobank Ghana has introduced Masterpass QR to boost safe and secure digital payment via the mobile phone for booth the banked and the unbanked. Ecobank’s Masterpass QR was designed by global card and digital payment giant, MasterCard to integrate various payment platforms in a safe and secure way for consumers, merchants and service providers. Ecobank … Read more
Jaw-dropping tax incentives and reliefs announced by the Finance Minister, Ken Ofori-Atta, in the 2017 ‘Asempa’ budget statement yesterday which clearly defined policies to resuscitate the ailing economy and restore hope for Ghanaians, completely dazed the minority National Democratic Congress (NDC) Members of Parliament (MPs). The finance minister announced as promised by the New Patriotic … Read more
The Finance Minister says government would focus on improving liquidity for banks through the payment of State-Owned Enterprise (SOE) debts. Ken Ofori-Atta said government would pay debts owed banks over the short to medium-term in line with its debt sustainability framework. Presenting the 2017 maiden Budget Statement to Parliament Thursday, the Finance Minister said creating … Read more
Hon. Speaker, Honourable Members of Parliament, on the authority of President Nana Addo Dankwa Akufo-Addo, I beg to move that this Honourable House approves the Financial Policy of the Government of Ghana for the year ending 31st December 2017. On the authority of the President, and in accordance with Article 179 of the 1992 Constitution, … Read more
The Akufo-Addo government would introduce a national digital property addressing system to protect lands and other properties of citizens. Presenting the 2017 Budget Statement to Parliament Thursday, Finance Minister Ken Ofori-Attah said this is aimed at facilitating improved ownership data and unique identification of properties across the country. “A proper identification of properties would ensure … Read more
In an expansion drive to serve customers better, SME Bank, OmniBank has opened an ultra-modern branch at Tarkwa, in the Western region Coming in as its latest branch in the region after the Takoradi branch, the launch of Tarkwa brings the bank’s branch network to 24. Known for its focus on SME Banking, the opening … Read more
Commerz Savings and Loans, the newest entrant to the financial sector, is seeking to deploy technological tools to attract more of the unbanked population into the banking sector. Dr. Edem Bart Williams, Managing Director of the new savings and Loans Company, in an interview, said Commerz is coming into the market to do things differently … Read more
Funds transfer and electronic payment in Ghana is expected to be enhanced soon when the Retail Payment Systems Infrastructure project takes off. Interoperability from a financial perspective involves the ability of a computer system to run application programs from different vendors and to interact with other computers across local or wide-area networks regardless of their … Read more
The money transfer market and the electronic payment system is expected to receive a major boost with the deployment of a new retail payment systems infrastructure that will soon be rolled out. The new technology, the first of its kind in Africa but functional in US, UK, Asia is managed by Sibton Switch Systems Limited … Read more
Enquiries made by the B&FT have established that the Ghana Interbank Payment and Settlement Systems (GhIPSS), can handle the intermediary role in across-network mobile money transactions, a multi-million-dollar job the central bank has outsourced to a private company. An insider source told the B&FT that what GhIPSS, a wholly owned subsidiary of the central bank, … Read more
By Charles Benoni Okine A public servant runs two accounts with two separate banks in the country. She does that not because she is super rich but she just adhere to the simple principle that, “Do not put your all your eggs in one basket.” On December 14, last year, she went to one of … Read more
Societe Generale Ghana has introduced a mobile banking service to ensure convenience for customers and easy access to their services. The service comes with a van fitted with an automated teller machine (ATM) which could perform basic banking services such as receiving deposits, withdrawals using ATM cards, mobile money and mobile payment services as well … Read more
GCB Bank Limited has disbursed over GH¢23 million to 900 different small and medium scale enterprises within 12 months. The disbursement follows the launch of the GCB SME Loan Scheme designed to provide short to medium-term credit facilities to the tune of GH¢100,000.00 with or without collateral to reinvigorate businesses. Mr. Ernest Agbesi, Managing Director … Read more
GCB Bank Limited has disbursed more than GHC23 million to 900 small and medium scale enterprises within 12 months. The disbursement followed the launch of the GCB SME Loan Scheme designed to provide short to medium term credit facilities to the tune of GHC100,000.00 with or without collateral to reinvigorate businesses. Mr Ernest Agbesi, Managing … Read more
Customers of GCB bank limited in the Saboba district of the Northern Region have been relieved of the risk involved in travelling to Yendi for their banking needs. The Saboba branch will bring banking services to the doorstep of customers in the area and other parts of eastern corridor of the Northern Region. The Saboba … Read more
The Internet is a powerful tool for communication and research as well as providing businesses with means of connecting with consumers and generating income. Advancement in Information and Communications Technology (ICT) and the rise in the volume of banking business performed electronically are causing what will be a vital catalyst for changing the business policies … Read more
Receiving the award on behalf of the bank, UMB Bank’s Director of Marketing and Communications, Ms. Yvonne Botchey, dedicated the award to the bank’s cherished customers and expressed her appreciation to the Board and Management of UMB for recognizing the strategic importance of the bank’s brand. “The strength of the UMB Bank brand is largely … Read more
I do have a question for you. Is the use of Mobile Phone Banking making significant efforts in bridging the gap to universal financial inclusion? Come to think of it! Mobile banking is simply the act of performing financial transactions on a mobile device like a cell phone or a tablet to send remittances, pay … Read more