This document provides an update to the original Ghana country diagnostic that was\u00a0produced in 2020.<\/p>\n
Ghana has experienced major economic instability over the last year that has had a major\u00a0impact on the country in terms of hyperinflation and currency devaluation. The situation\u00a0has since stabilised but increased costs in the Ghana economy have affected both RSPs\u00a0and remittance beneficiaries negatively. Despite this, the financial environment continues\u00a0to have a well-developed payment system, leveraging full interoperability between bank\u00a0accounts and mobile money so that Ghana has one of the highest financial inclusion\u00a0rates in Africa (note that different measurement approaches between methodologies\u00a0mean an empirical measure is not possible driven by the large uptake of mobile wallet\u00a0based accounts. The launch of an e-levy on electronic transfers threatened to erode\u00a0the penetration of mobile money. The government responded with a reduction in the\u00a0e-levy rate.<\/p>\n
There have been some regulatory changes in Ghana to advance the market. The\u00a0Guidelines for Inward Remittance by Payment Service Providers were introduced to\u00a0provide clarity to RSPs licensed and partnering with MTOs to terminate remittances\u00a0under the Payment Systems and Services Act 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
This document provides an update to the original Ghana country diagnostic that was\u00a0produced in 2020. Ghana has experienced major economic instability over the last year that has had a major\u00a0impact on the country in terms of hyperinflation and currency devaluation. The situation\u00a0has since stabilised but increased costs in the Ghana economy have affected both RSPs\u00a0and […]<\/p>\n","protected":false},"author":3,"featured_media":3029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"_region":[19],"_countries":[39],"topic":[32,31,30,29],"acf":[],"_links":{"self":[{"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/posts\/3027"}],"collection":[{"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/comments?post=3027"}],"version-history":[{"count":1,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/posts\/3027\/revisions"}],"predecessor-version":[{"id":3030,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/posts\/3027\/revisions\/3030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/media\/3029"}],"wp:attachment":[{"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/media?parent=3027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/categories?post=3027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/tags?post=3027"},{"taxonomy":"_region","embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/_region?post=3027"},{"taxonomy":"_countries","embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/_countries?post=3027"},{"taxonomy":"topic","embeddable":true,"href":"https:\/\/remitscope.org\/wp-json\/wp\/v2\/topic?post=3027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}