Ghana Fintech and Payments Association

📢 ANNOUNCEMENT Nominations are officially open for the Ghana FinTech Awards 2024. We are thrilled to announce the official launch of the 4th edition of the Ghana Fintech Awards. This milestone event, set for 1st March, 2025, at the Labadi Beach Hotel, will celebrate the remarkable innovations, resilience, and impact that the fintech community brings to Ghana and beyond. We're calling on the fintech community and beyond to nominate outstanding companies, leaders, and innovators who are driving the future of financial technology across categories. Whether it’s an innovative startup, a dedicated team, or a visionary leader—let’s shine a spotlight on those who truly deserve it! How to Nominate: It’s easy! Just visit our website https://lnkd.in/dpaqEZMG to submit your entry. For more information on partnership and sponsorship, please email cristina@ghanafintechawards.org or contact +233(0)598385685 KPMG Ghana Arkel Limited Ghana FinTech Awards

Mobile money transactions in Ghana reached a record high of GH¢2.368 trillion between January and October 2024, a 73% surge compared to GH¢1.367 trillion during the same period in 2023, according to Bank of Ghana data. Transactions in the first eight months of 2024 totalled GH¢1.775 trillion, reflecting steady growth. Bank of Ghana https://lnkd.in/eTSCcC8d

Dealroom.co, in partnership with GrowthAfrica and Systemic Innovation, has launched the Kenya Startup Ecosystem Platform—an open-access database designed to provide real-time insights into Kenya’s dynamic startup landscape and foster global connections. The platform enhances visibility for Kenya’s startups, connecting them with local and international stakeholders. It provides a centralized, data-driven tool for entrepreneurs, investors, policymakers, and researchers to track trends, funding, and opportunities across sectors. https://lnkd.in/ekUvBnFE

Mastercard Academy has launched a free online course, “Master Your Card: Finance Demystified,” designed to help consumers build a solid foundation in personal finance management. Created in collaboration with the Mastercard Centre for Inclusive Growth, the course aims to improve financial literacy by providing individuals with the tools and knowledge they need to navigate the increasingly complex world of personal finance. According to the S&P Global FinLit Survey, a staggering 3.5 billion adults, primarily in developing countries, lack basic financial knowledge. https://lnkd.in/dakNsQqU

Ah, 2021—the year we had our very first Ghana FinTech Awards right in the middle of a global pandemic Looking back at these moments from 2021 reminds us of the vision and determination that fueled the Ghana FinTech Awards. That was just the beginning. Today, the Awards have grown into a prestigious platform, honoring trailblazers, driving conversations, and shaping the future of fintech across Ghana and beyond. From celebrating early milestones to now spotlighting industry-defining innovations, the growth of the Ghana Fintech Awards reflects the evolution of the fintech ecosystem in Ghana—one of resilience, creativity, and collaboration. We’re grateful for everyone who has been part of this story, from our incredible nominees to our dedicated partners and supporters. Special thanks to all the companies and individuals in the financial space for believing in us from the very start. As we prepare for the next chapter of this journey happening on 1st March 2025, we want to hear from you: What are your reflections on the journey of the Ghana Fintech Awards so far? What stands out most to you? For more information on partnership and sponsorship, please email cristina@ghanafintechawards.org or contact +233(0)598385685 Samuel Tettey Amanor Emmanuel Obinne PayBox Global Philip Twum, ACCA Eric Annan Philip Boye-Doku David Boye - Doku Panamax Inc. Brassica Kowri EziPay Global Wallet Zeepay Company Limited Martin Awagah 🇬🇭🌍 Cristina Swan-Awagah (MBA, BSc.) Charles Kollo

Sumsub, an African-based leading full-cycle verification platform has released it maiden Global Fraud Index, indicating that Ghana is among Africa’s three most vulnerable countries to digital fraud. The report, which is the first-ever in-depth study of its kind, showcases the susceptibility of 103 countries to digital fraud. It was intended to assist regulators, governments and businesses to identify, understand and prevent digital fraud. It offers a complete overview of the risk of digital fraud, and reveals the underlying factors that fuel fraud in various parts of the world, aiming to raise public awareness on the root causes, rather than mere numbers. Per the report Mauritius, Botswana and Morocco were the most protected against fraud, while Ghana, Algeria and Ethiopia were the most vulnerable. Ghana FinTech Awards Cyber Security Authority https://lnkd.in/dngWCwb6

Offshore hackers stole USh62 billion (US$16.8 million) from Uganda’s central bank, the state-owned New Vision newspaper reported on Thursday. The hackers, identifying themselves as “Waste”, reportedly accessed the Bank of Uganda’s IT systems and illicitly transferred the funds earlier this month. The hacking group based in Southeast Asia sent part of the stolen money to Japan, New Vision said, citing unnamed sources at the bank. https://lnkd.in/dgbrp3BF

Finance Houses posted the highest average lending rate among financial institutions in the third quarter of 2024, according to the Q3 2024 Collateral Registry Brief by the Bank of Ghana. The average rate stood at 58.8%, a slight increase from 58.6% in Q3 2023. Microfinance Institutions followed, with an average lending rate of 47.5% in Q3 2024, down from 49.9% in the same period last year. https://lnkd.in/dTE9yugb

MTN Ghana has partnered with MobileMoney Ltd and Access Bank Ghana PLC to offer MTN customers the opportunity to purchase smartphones now and pay later. The scheme, dubbed “MTN Pick and Pay Later,” allows customers to select a smartphone, make an initial payment, and pay off the remaining balance in instalments within four or six months through mobile money. The smartphone options available to customers will be determined by their creditworthiness, which is assessed through a credit scoring engine on the MTN network. https://lnkd.in/dvJdFW4V

Private sector players in the digital payments industry across Africa have been ready for years to integrate and drive cross-border payments to boost intra Africa trade, but they are unable to because there is no regulatory harmonization to deal with currency differences and ensure seamless cross-border transactions. This stack reality formed the basis of a rather direct and strong remark by the CEO of Ghana Interbank Payment and Settlement Systems Limited (GhIPSS), Archie Hesse, during a panel discussion session at the launch of the 2024 edition of the State of Inclusive Instant Payments Systems (SIIPS) in Africa Report. https://lnkd.in/drYxNY-c