Accra, Jun 16, GNA- A World Bank report released over the weekend has tipped Ghana to be the fastest growing mobile money market in Africa. According to the report, the mobile phone penetration created opportunities for expansion of financial services and increased the role of non-financial institutions as much as e-money issuers, positioning Ghana as the fastest growing mobile money market in Africa. The 45-page Report dubbed: “4th Ghana Economic Update”, which focuses on Financial Sector Development and Financial Inclusion, further stated that this dynamic development indicated the potential of digital financial services and payments to further enhance financial inclusion in Ghana. Speaking at the launch of the 4th Ghana Economic Update, Dr Henry Kerali, the World Bank Country Director in Ghana said Ghana’s economy had had a turnaround over the past two years. It noted that the growth was primarily related to the spread of mobile money and government facilitation of interoperability across payment instruments by establishing a mobile money switching solution.

Source: All Ghana News June 16, 2019 12:45 UTC