This is according to a UN agency’s World Bank report discharged, dubbed: “4th Ghana Economic Update”. The 45-page report focuses on monetary Sector Development and monetary Inclusion.
The report stated the mobile money penetration created opportunities for enlargement of monetary services and hyperbolic the role of non-financial establishments the maximum amount as e-money issuers.
Country Director for the World Bank, Dr Henry, recommended the turnaround in Ghana’s economy over the last twenty-four months.
According to him, it’d be necessary to leverage the momentum that the business responsibility law created and make sure that business property can be maintained across economic and political circles.
He accessorial that additional domestic resource mobilisation would be key to confirm the country’s business property.
He more congratulated the government and also the Bank of Ghana for taking valiant steps to deal with the assorted challenges moon-faced by the monetary sector. The World Bank report same Ghana’s annual economic process continuing on a robust path at 6.3% in 2018.
The report, however, seen that the country’s annual growth was at a slower pace than the 8.1% recorded in 2017. Ghana’s economic process is predicted to extend to seven.6% in 2019, driven by each the oil and non-oil sectors, the report projected.
Meanwhile, the report additionally highlighted that rural access to formal monetary accounts was still low in some regions of Ghana. Also, the bulk of Ghanian girls were less financially enclosed than men, the report accessorial.