IFC, a member of the World Bank Group, together with the State Secretariat of Economic Affairs of Switzerland (SECO), and the Consultative Group to Assist the Poor (CGAP), is to the launch of the Ghana Digital Financial Services Initiative in Accra on 8th June, 2016.
The initiative aims to advance financial inclusion in Ghana through the use of new technology and innovative business models.
The $5.6 million Ghana Digital Financial Services Initiative is funded by SECO and will be implemented by IFC and CGAP in collaboration with the Bank of Ghana and the financial industry.
The program, according to a statement from IFC would support regulatory and market capacity, and provide direct technical assistance to two industry actors to increase the reach of digital financial services in support of inclusive economic growth.
Broad access to affordable and regulated financial services is a key tool in the fight against poverty, and the World Bank Group is committed to help bring about universal financial inclusion by 2020.
About half of the population in Ghana currently has access to formal financial services (58 percent, Finscope 2015), with digital financial services driving the most of the recent expansion.
The launch of the Ghana Digital Financial Services initiative will include a recent market update on digital financial services in Ghana and a panel discussion on the role and future of digital financial services in the Ghanaian economy.
Featured speakers include representatives from Bank of Ghana, SECO, IFC, Ecobank, MTN and Vodafone Ghana.
African Eye Report
