• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Leverage on digital banking for trading under AfCFTA – Dr Bawumia

4 years ago
in Banking & Finance, Business, Editor's pick, highlights, Home, home-news, latest News, Trade
2 min read
0 0
0
90
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Leverage on digital banking for trading under AfCFTA – Dr Bawumia

His Execellency the Vice President Dr. Mahamudu Bawumia has implored the Chartered Institute of Bankers, Ghana and stakeholders in the banking industry to build synergies and leverage on digital banking for trading under the Africa Continental Free Trade Area (AfCFTA).

He said digitisation was the future for banking globally, and it was imperative for banks and other stakeholders to collaborate and use digital platforms for cross-border transactions and trade facilitation on the continent.

That, he said, would increase the assets of banks and bolster their customer base to spur economic growth of African countries.

Vice President Bawumia made the call at the 25th National Banking Conference of the CIB Ghana, in Accra on Thursday on the theme: “The Digital Economy of Ghana: The Strategic Role of the Banking Industry”.

Dr Bawumia, also a Fellow of the Chartered Institute of Bankers, Ghana, outlined various digital infrastructure initiatives government had rolled-out since 2018 including; the Digital Property Address System, Mobile Money Interoperability Payment System, Universal QR Code, issuance of the Ghana-Card and Ghana.gov portal that were aiding electronic transactions and improving financial inclusion among Ghanaians.

He said, for instance, about 19 million Ghanaians were mobile money users and 15.7 million people, representing 85 percent of the adult population had been issued with Ghana-Cards.

RelatedPosts

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

Togo is Flexing its Unrivaled Maritime Power

He stated that a Bank of Ghana (BoG) report on mobile money transactions between 2019 and 2020 revealed that Momo transactions increased by 365 percent in volumes and 651 percent in value, saying; “Digital transformation agenda of government has been phenomenal”.

He believed that digitisation was the future and banks that leverage on digital banking would gain a competitive edge over their competitors that continue using traditional methods of banking.

The Vice President lauded the Ministry of Finance and the Bank of Ghana for rolling-out robust digital financial policies over the past two decades to help deepen financial inclusion and digital payments in Ghana.

He urged the CIB Ghana to implement robust training programmes for its members to enhance efficiency in the delivery of banking services and aid the overall growth of the Ghanaian economy.

Right Reverend Patricia Sappor, the President of the Chartered Institute of Bankers, Ghana, in her welcome remarks, observed that the banking industry had been evolving over the past decades, therefore it was imperative for banks to adopt technology and innovative reforms to remain competitive.

She noted that in this era of fourth industrial revolution, it was critical for banks to embrace digital banking to improve on their operations and create value for their customers and stakeholders.

Mrs Mansa Nettey, President, Ghana Association of Bankers, in an address read on her behalf, said customer needs had become sophisticated, therefore using digital tools in rendering banking services would be useful in satisfying their needs.

She, therefore, entreated bankers to roll-out digital products and embrace digital banking services to stay afloat in business.

Source: GNA
Via: Norvanreports
Tags: African Continental Free Trade Area (AfCFTA)Bank of Ghana (BoG)BOGCovid-19COVID-19 pandemicghanaIMFLeverage on digital banking for trading under AfCFTA – Dr BawumiaNigeriaPayment and Financial Technology Service Providers (PFTSP)World Bank
No Result
View All Result

Highlights

Parliament Expresses Grief Over Death of Ministers, MP and 6 Others in Military Helicopter Crash

GSE Composite Index Up 46.51% YTD as Market Capitalization Hits GHS 147.91 Billion

Global Financial Bias Costs Africa $75 Billion Annually

GFA President.Set to Visit Gold Stars, Asante Kotoko, and Police Ladies to Strengthen CAF Campaigns

CHAN 2024: Tanzania and Burkina Faso Secure Important Wins

US Open Announce Record $90 Million Prize Money for 2025 Tournament

Trending

Features

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter Crash

August 7, 2025

Summary of Events Following Confirmation of Deaths of Defence and Environment Ministers, Six Others in Military Helicopter...

FDI Rises to 3-Year High as Reforms Boost Investor Confidence

August 7, 2025

Togo is Flexing its Unrivaled Maritime Power

August 7, 2025

Parliament Expresses Grief Over Death of Ministers, MP and 6 Others in Military Helicopter Crash

August 7, 2025

GSE Composite Index Up 46.51% YTD as Market Capitalization Hits GHS 147.91 Billion

August 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.