In hand with sustained economic growth in recent decades, Morocco has been able to establish one of the region’s most competitive and sophisticated banking sectors. This has translated into significant penetration levels for banking services, a wide array of products and a handful of large-scale banking players with international reach across the continent. Despite the years of development,...
Financial Services
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A number of key developments in the country are expected to support economic growth in the coming years. A rapidly improving business environment and infrastructural base, the gradual liberalisation of the local currency and increased investment into export-oriented industries are all set to raise living standards and drive the emergence of a large national middle class.
Articles & Analysis | Ghana's banking sector sees stricter capital requirements among other reforms from The Report: Ghana 2019
Ghana’s banking industry has undergone a challenging period in recent years, weathering an economic downturn and a rising tide of non-performing loans (NPLs). While delinquent debts have undermined sector stability and remain a key challenge, the country’s lenders continue to grow their assets and remain profitable. With a wholesale regulatory...
Articles & Analysis | An analysis of Ghana’s pensions system from The Report: Ghana 2019
A formal pension framework has existed in Ghana since the colonial period, when a number of provident funds were established as a means to provide retirement benefits for the nation’s working class. Since then, the pensions universe has rapidly evolved with the transition to a basic social security scheme in 1965 and the creation in 1972 of...
Articles & Analysis | West African integration could help Ghana's insurers compete on a global scale from The Report: Ghana 2019
Established global insurers hold a number of advantages over their domestic counterparts. Most multinationals offer a wider array of products, can offer more complex insurance offerings, employ a larger workforce and hold a wider geographic presence granting them a broader skills base. For smaller players looking to compete on a regional or...
Articles & Analysis | Mobile money in Ghana presents opportunities and challenges for traditional banks from The Report: Ghana 2019
One of the most productively disruptive elements in the domestic banking sector is carried by an increasing number of Ghanaian citizens. The smartphone, which was until recently the preserve of a relatively small segment of the population, is rapidly being taken up by the emerging middle class and, in turn, driving a mobile payment boom. For...