Fintech
Ghana plans to leverage fintech to boost small businesses
Ghana is planning to leverage financial technology to boost access to capital for its small and medium-sized business sector, a segment that contributes 70% of economic growth.
The country’s fintech industry has blossomed with the introduction of new products to the market since it is Africa’s largest wireless operator MTN Group Ltd. started mobile money transfers about 14 years ago. Today, mobile phone users can access bank loans, purchase an insurance policy, and purchase government bonds, among other services, through a simple tap of their mobile phone without having a bank account.