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14 clusters · 17 sources · 76 days · First seen · Last updated

Ghana digital payments surge, fraud rise, and SME financing

Overview

Ghana’s digital financial ecosystem is experiencing rapid expansion alongside rising security challenges. Digital payments now account for over half of all transactions, with mobile-money activity reaching a record 954 million transactions in June 2026. To support this growth, the Bank of Ghana (BoG) has established a Virtual Assets Department to oversee fintech innovation and is piloting cross-border payment links with Rwanda, while exploring further connections with nations like Nigeria.

However, fraud remains a critical concern. The BoG reported a 48% increase in financial sector fraud cases in 2025, totaling 24,778 incidents with a value at risk of GH¢101 million. Most incidents involve mobile-money operators, driven by social engineering—such as fake calls and SMS—rather than technical hacking.

Recent BoG initiatives focus on leveraging digital infrastructure for broader economic stability. Governor Dr. Johnson Pandit Asiama is pushing for the conversion of diaspora remittances into structured investment products, such as savings and bonds, to bolster national development. To assist traders, the central bank is building digital pathways and a continental testing environment for fintech innovators.

Addressing structural gaps, Second Deputy Governor Matilda Asante-Asiedu identified an estimated $4.8 billion annual financing gap for SMEs. She advocated for the development of digital credit rails that utilize mobile money and transaction data to improve credit accessibility. Additionally, Governor Asiama has called for a more predictable framework to support the restructuring of distressed but viable businesses, aiming to prevent unnecessary liquidations by enabling banks to provide post-commencement financing with greater confidence.

Entities

Bank of Ghana · Ghana Association of Banks · Nigeria · Mobile Money Operators · MobileMoney Fintech Ltd

Timeline

  1. 30 days ago

    [BUSINESS] 3 sources
    Bank of Ghana targets cross-border payments and diaspora investment

    The Bank of Ghana is launching initiatives to improve cross-border digital payments and urging banks to create investment products for diaspora remittances to support national economic development.

  2. about 1 month ago

    [BUSINESS] 2 sources
    Ghana's Mobile Money Funds Backed by Regulated Bank Trust Accounts

    MMFL’s Godwin Tamakloe said Ghana’s mobile‑money wallets are fully backed by cash in regulated bank trust accounts, protecting funds during outages; officials called for tighter cooperation to fight fraud.

  3. about 2 months ago

    [BUSINESS] 2 sources
    Ghana's mobile money use surges as fraud cases rise 48%

    Ghana saw a 48% rise in fraud cases to 24,778 in 2025, with digital payments responsible for most losses. Mobile‑money transactions hit GH¢492.9 bn in June 2026, reflecting rapid sector growth.

  4. about 2 months ago

    [BUSINESS] 2 sources
    Ghana’s Bank of Ghana Highlights Community Banking Transformation

    Ghana’s Bank of Ghana and development partners backed the shift from rural to community banks, a reform covering 147 banks that aims to deepen financial inclusion nationwide.

  5. about 2 months ago

    [BUSINESS] 4 sources
    Ghana's financial sector expands with digital payments surpassing cash and community banking boom

    Ghana's digital payments now exceed 50% of transactions, placing it among the world’s top three for digital payment share, while community banks grow to 147 institutions serving 8 million customers.

  6. 2 months ago

    [BUSINESS] 3 sources
    Ghana and Papua New Guinea launch women‑focused SME loan programmes

    Ghana's Development Bank launched a Women’s Lending Programme to boost female‑owned businesses, while Papua New Guinea's NDDA and Mama Bank began disbursing SME loans to mothers in the Nakanai District.

  7. 2 months ago

    [CRIME] 3 sources
    Bank of Ghana warns mobile money fraud relies on social engineering, not hacking

    The Bank of Ghana says mobile‑money fraud is rising, driven by social‑engineering scams rather than hacking, and urges users to verify unsolicited calls or messages and protect their credentials.

  8. 2 months ago

    [BUSINESS] 4 sources
    Bank of Ghana reports surge in mobile money fraud, losses exceed GH¢100 million

    Bank of Ghana’s 2025 fraud report shows a 48% jump to 24,778 cases and GH¢101 million at risk, driven by a surge in mobile‑money fraud; banks recovered only 5% of losses.

  9. 3 months ago

    [POLITICS] 2 sources
    Ghana seeks licence to launch Women’s Development Bank

    Ghana’s Women’s Development Bank has been registered and is awaiting a Bank of Ghana licence, with GH¢51.3 m allocated for 2025 and GH¢450 m for 2026 to boost women’s financial inclusion.

  10. 3 months ago

    [BUSINESS] 5 sources
    Bank of Ghana Launches Virtual Assets Department to Regulate Digital Finance

    The Bank of Ghana created a Virtual Assets Department to regulate digital finance, while Standard Chartered’s Accra summit highlighted stablecoins and tokenised assets, signaling Ghana’s drive to blend fintech,

  11. 3 months ago

    [BUSINESS] 2 sources
    Ghana's Bank of Ghana Calls for Action on Digital Fraud and Misinformation

    Ghana's banking leaders warn that rising digital fraud and misinformation threaten public trust and economic stability, urging coordinated action and better media training.

  12. 3 months ago

    [BUSINESS] 2 sources
    Ghana fintech sector urges joint action to curb rising mobile‑money fraud

    Ghana’s fintech industry, led by MobileMoney Fintech Ltd, issued a white paper urging joint coordination, faster intel sharing, secure channel adoption, and agent training to combat a surge in mobile‑money and

  13. 3 months ago

    [BUSINESS] 2 sources
    Ghanaian banks roll out training programmes for SMEs and women entrepreneurs

    Stanbic Bank’s SME Clinic in Tamale and Access Bank’s women‑business workshop aim to equip Ghanaian SMEs with structured systems and financial literacy to drive scalable growth.

  14. 4 months ago

    [BUSINESS] 2 sources
    MobileMoney Fintech launches programme to support 600 Ghanaian SMEs

    MobileMoney Fintech launched the “Wo Nkɔsoɔ” programme in Ghana to train 600 SMEs—including women‑led dressmakers, hairdressers and farmers—in financial literacy, digital payments and credit readiness, with a 4

Sources

adomonline.com · ameyawdebrah.com · cointelegraph.com · ghanaguardian.com · ghanaiantimes.com.gh · ghanamma.com · ghananewspage.com · myjoyonline.com · newsghana.com.gh · postcourier.com.pg · regtechafrica.com · techparley.com · thebftonline.com · thechronicle.com.gh · theghanareport.com · thevaultznews.com · thevoicenewsmagazine.com

This summary has been updated 3 times: see revision history