Mobile Money transactions dipped by 18.58% to ¢71.4 billion in May 2022, the month of implementation of the Electronic Transaction Levy (E-Levy). However, in the month of June 2022, the transactions via Mobile Money went up to ¢77.4 billion, an 8.4% growth. According to data from the Bank of Ghana, Mobile Money transactions grew consecutively until April 2022 when it dipped...
Dr Alayande Folarin, a Vice President of MasterCard has stated that the Pan African Payment and Settlement System (PAPSS) will enhance interconnection to all the Central Banks and Afrexim bank. “For those who are familiar with the PAPSS, we know that there are existing mechanisms for similar settlements even though they are not connected to the Central Banks.” Vice President Folarin...
The cedi lost 19.2% in value to the US dollar in almost seven months of 2022. According to the Summary of Economic and Financial Data by the Bank of Ghana, the local currency went for ¢7.43 to the American ‘greenback’ on the interbank market as of July 22nd, 2022. It is however selling at about ¢8.30 pesewas to the US dollar...
