GhIPSS report shows steady drive towards cashless agenda

The GhIPSS 2021 half year performance report has shown that the GhQR and other new electronic services have started making gains.

These electronic channels, including GhQR, ACH Direct Credit Near Real Time, GIP Debit pull, and Proxy Pay introduced by Ghana Interbank Payment and Settlement Systems (GhIPSS) cumulatively recorded 358,000 transactions in the first half of the year, representing 0.51 per cent of total transactions processed by GhIPSS.

In value terms, the transactions processed was GH¢3.2 billion, representing two per cent of total value of transactions processed by GhIPSS.

He said to meet the challenges posed by the pandemic, businesses around the world had to react in agile and decisive ways.

“The magnitude and speed of change coming out of the pandemic has generated new forms of financial and operational risks as companies grapple with inflation, capacity constraints, and supply-chain disruptions,” he said.

He said it was now the time for businesses to reach out and seize the opportunities emerging in the recovery and build strategic resilience for the future.

Mr Gadzekpo said beyond its ground-breaking size, the AfCFTA promised to be a paradigm shift and a deeper commitment to the integration of the continent by negotiating goods and services simultaneously.

The Group CEO said the agreement was a potential economic game-changer for Africa’s development not only because of its potential to enhance intra-African trade.

He said it would also provide an opportunity for countries in the region to competitively integrate into the global economy, reduce poverty and promote inclusion.

Mr Tsonam Cleanse Akpeloo, Accra Regional Chairman, AGI said the Association had completed a comprehensive study on the impact of COVID-19 latter part of last year, and it showed over 80 per cent of its members have been affected by the pandemic.

He said they were fortunate for the government to relieve industry by providing the stimulus for businesses affected by COVID-19. GNA

Source: Ghanaian Times