The license is a requirement under the Payment Services Act 2019 which mandates that all Financial Technology or digital payments companies be licensed by the Bank of Ghana Digital payments has seen tremendous growth in the past couple of years. As of January 2021, 38.9 percent of the population aged 15 years and older had
By Clara Wanjiku Odero The World Bank estimates remittances to the Middle East and North Africa region rose by 2.3 percent to about $56 billion in 2020. However, global businesses that want to pay their Africa-based vendors and patterns are often frustrated by their experience with B2B payments. Typically, international businesses must route funds through
The Managing Director of GCB Bank Limited, Mr Kofi Adomakoh, says there is no reason why banks will not invest in renewable energy and other projects to spearhead the development of the national economy. He explained that banks including GCB, largely look at the viability of the projects and conduct due diligence before investing in
Irish FinTech, Pipit Global Partners with Pan-African Fintech Cellulant to power cheaper and safer means for Africans in the EU and UK to send cash to their families at home in Nigeria, Kenya, Uganda, Tanzania, Mali, Senegal, and Ghana According to reports by the BBC, about 8 million Africans live abroad. That number is projected
GCB, Ghana’s largest bank, as part of measures to ameliorate the sufferings of its customers from the ravaging effects of the COVID-19, has advanced in excess of GHS 156.1 million in personal loans to over 9,000 customers. The enhanced loan product which was aggressively offered during the peak of the pandemic to provide financial support
Mastercard has announced the appointment of Bossman Akuffo Kwapong as Country Director for Ghana. His 20 years of experience in the financial services industry includes leadership roles in business development, banking operations, client experience, payments and digital innovation. In his new role, Bossman will manage Mastercard’s operations and relationships in Ghana, enabling strategic delivery of
The collaboration between both companies includes financial support from Visa and will be spread over the five-year partnership period Carbon (ng.getCarbon.co), a pan-African fintech company providing access to basic financial services for Africans, has announced a strategic five-year partnership with Visa, the world leader in digital payments, to offer both digital and physical issuance of
Ghana’s first indigenous Bank, GCB Bank has further reduced its interest rates on personal loans to 23 per cent per annum in line with measures to mitigate the impact of Covid-19 on clients. As part of the measures, the Bank has also granted a two-month moratorium on both principal and interest repayment and increased loan
The GCB Bank Limited has commended GOIL Company Limited for its strategic drive towards maintaining its leadership in the downstream petroleum sector. Mr Kofi Adomakoh, Managing Director of GCB Bank explained that GOIL and GCB are fraternal as they both operate as the indigenous backbone of the country in the banking and petroleum sector respectively.
Shareholders of GCB Bank Ltd are to enjoy a 25 per cent increase in dividend payment over the 2019 dividend payment. Following a sterling performance in the 2020 financial year, the Board of the Bank has recommended a dividend payment of GHc0.25 per share, representing a 25 percent increase on 2019. According to the 2020
