As in many African markets, much of Ghana’s population remains unbanked. Previous asset freezes, limited infrastructure, regional income disparities, a large informal sector and an elevated poverty rate have all combined to limit the ability of the broader population to access financial services.
Financial Services
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Articles & Analysis | Attempts to reach the nation’s unbanked continue from The Report: Ghana 2014
Articles & Analysis | Efforts to improve credit access for SMEs from The Report: Ghana 2014
Small and medium-sized enterprises (SMEs) play an important role in Ghana’s economy, accounting for around 90% of all businesses, according to a 2013 survey on the banking sector by PwC. A 2010 study by the University of Ghana reported that SMEs account for 70% of GDP, although PwC says this figure fell to around 49% by 2012, largely due to the commencement of oil and...
Articles & Analysis | Most fundamentals remain healthy but challenges do exist from The Report: Ghana 2014
For a frontier market, Ghana’s banking system is very developed. It is well capitalised, the non-performing loan (NPL) ratio has been declining for a number of years, and regulators are continually pushing to ensure the sector is both sound and inclusive. The main urban centres are well banked, and rural parts of the country are served by a wide range of specialist...
Interviews & Viewpoints | OBG talks to Kofi Wampah, Governor, Bank of Ghana (BoG) from The Report: Ghana 2014
Interviews & Viewpoints | OBG talks to Archie Hesse, CEO, Ghana Interbank Payment and Settlement Systems (GhIPSS) from The Report: Ghana 2014
In what ways should the roll-out of electronic payment platforms differ in Ghana’s rural areas?
The insurance sector is growing rapidly as a result of reforms, improved regulation and a better understanding of the relevant products on the part of Ghana’s consumers. Business has not only expanded along with the economy, but has outperformed it. The sector saw total premiums growth reach 23% y-o-y in 2013. However, the sector also faces challenges common to many of Africa’s frontier...