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Ghana launches Digital Financial Services Policy

Tuesday 26 May 2020 11:42 CET | News

The Ministry of Finance which led the development of the National Financial Inclusion and Development Strategy (NFIDS) has launched the Digital Financial Services (DFS) Policy.

There are three policy initiatives designed to deepen financial inclusion and accelerate the shift to digital payments, according to IBS Intelligence. The Government has also built a Digital Payments Coordination Unit to drive stakeholder engagement on the implementation of key actions.

The National Financial Inclusion and Development Strategy, developed in collaboration with the World Bank, aims at increasing financial inclusion from current 58% to 85% by 2023, helping create economic opportunities and reducing poverty.

The Digital Financial Services Policy, built in partnership with the Consultative Group to Assist the Poor (CGAP), stands on existing technological gains to create a digital ecosystem that contributes to social development, economy, and a thriving private sector.

The Cash-Lite Roadmap, designed in partnership with the Better Than Cash Alliance, aims at building an inclusive digital payments ecosystem which includes a better access to financial services, enabling regulation and oversight, and promoting consumer protection.


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Keywords: Ghana, digital, Digital Financial Services Policy, COVID-19, coronavirus, National Financial Inclusion and Development Strategy, NFIDS, DFS, payments, digital payments, Digital Payments Coordination Unit, World Bank, The National Financial Inclusion and Development Strategy, The Digital Financial Services Policy, partnership, Consultative Group to Assist the Poor, CGAP, The Cash-Lite Roadmap, Better Than Cash Alliance
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Ghana
This article is part of category

Banking & Fintech