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Banking & Finance

MobileMoney Fintech LTD Releases Historic Strategic White Paper On Strengthening Ecosystem Collaboration Against Digital Fraud

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MobileMoney Fintech LTD (MMFL) has released a strategic white paper titled Uniting Against Digital Fraud: Strengthening Ecosystem Collaboration in Ghana’s Digital Financial Services Sector, reinforcing the urgent need for coordinated, cross-sector action to address the growing threat of digital fraud within Ghana’s financial ecosystem. The historic white paper captures strategic insights from the MobileMoney Fintech Partner Exchange, a high-level stakeholder forum convened by MMFL in April 2026. The engagement brought together senior representatives from regulatory institutions, financial service providers, fintechs, law enforcement agencies, telecommunications stakeholders, and agent networks to examine the evolving fraud landscape and identify practical pathways for ecosystem-wide resilience. As Ghana’s digital financial services sector continues to expand in scale, sophistication, and national relevance, the white paper highlights the corresponding need for a more integrated and intelligence-led approach to fraud prevention and response. It underscores the reality that digital fraud has become an ecosystem challenge requiring stronger collaboration, faster decision-making, improved information sharing, and sustained investment in secure digital channels and frontline protection. The publication outlines several strategic priorities identified through the stakeholder dialogue, including the establishment of joint coordination mechanisms, the strengthening of intelligence-sharing frameworks, the acceleration of secure digital adoption, and the enhancement of consumer and agent education. Commenting on the release, CEO of MobileMoney Fintech LTD, Mr Shaibu Haruna, said, “The continued growth of Ghana’s digital financial ecosystem depends not only on innovation and access, but also on our collective ability to protect the integrity of the system. This white paper reflects a shared recognition that ecosystem security must be approached as a collective responsibility, anchored in collaboration, trust, and coordinated action.” The white paper further affirms MMFL’s role as an ecosystem enabler committed to working with public and private sector stakeholders to strengthen resilience, safeguard consumer trust, and support the sustainable growth of digital financial services in Ghana. Through this publication, MMFL seeks to contribute meaningfully to industry discourse and support the development of practical, long-term solutions that reinforce trust, security, and confidence across the digital financial ecosystem. Here is the white paper file:///Users/masahudu/Downloads/WHITE%20PAPER-%20UNITING%20AGAINST%20DIGITAL%20FRAUD.pdf Source:African Eye Report  

Banking & Finance

SEC Boss Takes Aim at International Payment Platforms Over “Rip-Off” Charges on Ghanaian Exporters

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The Deputy Director General, Operations at the Securities and Exchange Commission Ghana, Mr. Mensah Thompson has taken direct aim at international payment platforms, describing the fees charged to Ghanaian exporters as a complete rip-off and positioning Ghana’s new virtual assets framework as the remedy. Speaking with Business Outlook Africa on the back of the passage of the Virtual Assets Bill, Mr. Mensah Thompson did not mince words in his assessment of how global payment intermediaries have long shortchanged African exporters. “My biggest challenge which I’ve not spoken about enough is how international payment platforms rip Ghana, Ghanaians off — or Africans off — in terms of payments. You go to your farm as a cocoa farmer, you grow your cocoa or your cashew or whatever commodity. Mastercard was nowhere to be found, but you go sell, you export your cocoa to the European market, and before you receive your money, some middleman called Mastercard or Visa or SWIFT is taking about 5% of your money for doing absolutely nothing — just to help you get your money for your export,” he stated. Mr. Mensah Thompson outlined what he sees as the most enduring impact of the new framework which is bringing down the cost of moving money across borders for both exporters and importers. “The biggest legacy will be that Ghanaian exporters will be able to aggregate their export proceeds for a fraction of the cost. And Ghanaian importers will be able to pay for their imports for a fraction of the cost, with convenience, access and efficiency,” he said. He added that the ripple effects of lower transaction costs would extend well beyond payments, driving greater connectivity, spawning new industries, and ultimately building wealth across Ghana’s economy. “With speed and efficiency comes more connectivity and more industries that will flow from it. The derivative aspects of it are going to come — it’s going to create further opportunities and a whole set of value chain that is going to build wealth for our people,” he added. The Deputy Director General then concluded by adding that,President Mahama’s assent to the Virtual Asset Bill during December last year will go down as one of his greatest legacies in some years to come. “President John Mahama — it will be one of his greatest legacies that he signed the Virtual Asset Service Providers Act into law. In fact, he signed it on the 24th of December 2025, a day before Christmas, where he should be relaxing with his family. He was in the office working. He signed the Virtual Asset Service Providers Act into law. He’s given us all the support that we need to do this. And that will be a very big contribution to his legacy,” he stated. The Virtual Asset Service Providers Act, 2025 (Act 1154) was passed into law by Parliament on December 19, 2025, and received presidential assent on December 30, 2025. The landmark legislation establishes a comprehensive legal and regulatory framework to supervise, license, and register cryptocurrency and virtual asset operations in the country.  

Deputy Director General, Operations at the Securities and Exchange Commission Ghana, Mr. Mensah Thompson
Banking & Finance

Virtual Assets Could Produce Ghana’s Next Billionaires Under 30 – SEC Deputy Director General

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The Deputy Director General, Operations at the Securities and Exchange Commission Ghana, Mr. Mensah Thompson has stated that the passage of the bill and introduction by f the virtual assets regulatory sand box aims at unlocking the enormous wealth creation potential of virtual assets for Ghanaians particularly the youth.   Speaking exclusively with Business Outlook Africa, Mr. Mensah Thompson expressed confidence that the new virtual asset regulatory framework has the potential to produce a generation of young Ghanaian millionaires and billionaires that the country is yet to see.   “I said that for several years, we’ve seen a lot of millionaires and billionaires in this country. And we are yet to see millionaires and billionaires under 30 in this country.And I said that virtual asset has the potential to create the next billionaires of this country under the age of even 30. Because of how, you know, enormous this is, and its potential to create wealth.” He stated   Looking ahead, Mr. Mensah Thompson further projected that virtual assets will sit at the centre of Ghana’s economic and financial landscape over the next decade cutting across every sector of the country’s development agenda.   ”It’s going to be the anchor of Ghana’s economy and financial system. It’s going to be at the centre of everything we do.Yes. From health to education to infrastructure, everything is going to be at the centre of everything that we do.“ He added   The Deputy Director General further expressed the Commission’s hope that the new framework will serve as a turning point for Ghanaians who have long been excluded from the formal financial system and struggled to access capital hence deepening financial inclusion.   ”So, it’s really an exciting time for us and we are really looking forward to making sure that our young people, who for a very long time have been left out in terms of financial inclusion, access to capital, will be able to now be given the tools to now create work for themselves.” He added   The Virtual Asset Service Providers Act, 2025 (Act 1154) was passed into law by Parliament on December 19, 2025, and subsequently received presidential assent on December 30, 2025. This landmark legislation establishes a comprehensive legal and regulatory framework to supervise, license, and register cryptocurrency and virtual asset operations in the country.  

Banking & Finance

Republic Bank Ghana Deepens CSR Commitment With Mechanized Borehole Projects

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Republic Bank (Ghana) PLC has commissioned two mechanized borehole water projects in Pwalugu in the Talensi District of the Upper East Region and Dingoni in the Tolon District of the Northern Region, as part of its Corporate Social Responsibility commitment to improving access to clean and safe drinking water for underserved communities. The inauguration ceremonies of the project which was undertaken under the Bank’s Power to Make A Difference (PMAD) initiative was held on May 25 and May 26, 2026, in Pwalugu and Dingoni respectively, was attended by government officials, traditional rulers, community members, school children, and executives of the Bank. Speaking at the inauguration,Managing Director of Republic Bank (Ghana) PLC, Dr. Benjamin Dzoboku, revealed that the intervention is intended to provide consistent relief to the people, particularly women and school children who previously spent long hours searching for water. “We want children to have more time to study and families to focus on productive activities,” he stated. Also Speaking at the inauguration,the Upper East Regional Minister Donatus Akamugri Atanga described the project as a life-changing intervention, noting it as a clear example of how private-public partnerships can positively impact lives at the grassroots level. “This project is not just about water; it is a symbol of hope, dignity, improved public health, and enhanced livelihoods for the people of Pwalugu.It is also a clear example of how private-public partnerships can positively impact lives at the grassroots level and contribute to the socio-economic development of our people.” The District Chief Executive for Talensi District, John Millim Namwomya, expressed gratitude to the Bank for honouring its commitment following a sod-cutting ceremony held in December 2025, urging the community to take good care of the facility to ensure its long-term sustainability. “I encourage the community to take good care of the facility to ensure its long-term sustainability,” he said. At the Dingoni ceremony, the District Chief Executive,Seidu Breimeh praised the Bank for complementing government efforts to provide clean water, describing the intervention as aligned with President Mahama’s vision of ensuring access to clean water for all Ghanaians. “This intervention aligns with the President’s vision of ensuring access to clean water for all Ghanaians. Water remains a major challenge in this district, and this project brings great relief to the people of Dingoni,” he stated Republic Bank has pledged to work closely with contractors for the projects in Pwalugu and Dingoni to provide support and maintenance for one year. The Bank will also train community members on the operation and maintenance of the solar and electricity-powered automated borehole system to ensure long-term sustainability.  

Banking & Finance

BOG Refutes Claims Of Planned Sale Of New Headquarters

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The Bank of Ghana has refuted claims by MyJoyOnline that it is currently considering the sale of its new $260 million headquarters. In a statement released earlier today, the Central Bank stated categorically that it is currently not “considering, discussing, or planning” the sale of its new headquarters, adding that the facility continues to remain a “critical asset of the Bank.” The Central Bank also proceeded to raise concerns about the potential impact of such unverified reports, warning that publications of this nature have the potential to undermine public confidence in Ghana’s financial system and create unnecessary market uncertainty. The Bank hence urged both the public and the media to disregard the MyJoyOnline publication entirely. The Bank of Ghana then took the opportunity to remind media outlets to seek clarification from the Bank before publishing information relating to its operations, reaffirming its commitment to transparency through official channels. The Bank then reminded the public that all of its official communications are issued via its website bog.gov.gh, verified social media handles, press statements from the Communications Department, and signed statements from the Secretary of the Bank.

Banking & Finance

GSE Reports Internet Connectivity Issues, Assures Trading Continues

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  The Ghana Stock Exchange has issued a market notice informing the public of an internet connectivity disruption affecting some of its services. In the notice, the Exchange said its Internet Service Provider is actively working to resolve the issue as quickly as possible, while assuring market participants that its trading system remains fully accessible via its Wide Area Network connection. The GSE also confirmed that its MarketWatch platform is up and running, meaning investors can continue to monitor market activity without interruption. The Exchange apologised for any inconvenience caused and indicated that updates would be shared as soon as the issue is resolved.

Banking & Finance

Bank of Ghana Halts MoMo Fintech’s Wallet-to-Bank Transfer Fee Days Before Rollout

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The Bank of Ghana has directed Mobile Money Fintech Ltd a subsidiary of the MTN Group to suspend the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers. In a statement released on Tuesday May 26th 2026 the Central Bank announced that the fee which was supposed to be implemented effective June 1,2026 is currently undergoing considerations after which it will be determined if it should be implemented or not. The Central Bank added that this move is being put in place to ensure “ changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing” . This comes after Mobile Money Fintech Ltd a subsidiary under the MTN Group announced plans to introduce a 0.75 percent fee on all direct wallet-to-bank transfers effective 1st June 2026.

Banking & Finance

Ghana Stock Exchange Records Mixed Session as Financial Index Slips

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Trading on the Ghana Stock Exchange on the closing day of last week(22nd May 2026 )ended on a mixed note as the benchmark GSE-Composite Index edged up while the Financial Stock Index retreated. Equity Market The GSE-Composite Index gained 0.20% to close at 14,518.96 points, up from 14,489.47 the previous day. Year-to-date, the index has gained an impressive 65.55%. The GSE-Financial Stock Index however declined by 0.76% to settle at 7,881.22 points, down from 7,941.28, though it remains 69.59% higher year-to-date. Trading activity slowed significantly with volume traded dropping 51.70% to 2,351,894 shares from 4,869,431 the previous session. Despite the lower volumes, value traded surged 151.60% to GHS 13,967,514.42 from GHS 5,551,489.69. Fixed Income Market Total fixed income market volume rose 10.99% to GHS 794,928,231 from GHS 716,243,249 the previous day. DDEP Bonds recorded the strongest growth, climbing 50.02% to 294,390,861. Treasury Bills however declined 3.38% to 495,695,951 while Corporate Bonds fell sharply by 39.58% to 4,244,900.

Banking & Finance

Xorse Augustine Godzi Takes Over From Mansa Nettey As CEO/MD of Standard Chartered Bank Ghana PLC

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Standard Chartered Bank Ghana PLC has appointed Xorse Augustine Godzi as its Chief Executive Officer/Managing Director effective June 11,2026 . Replacing Mansa Nettey who served in the same portfolio for the past 9 years, Xorse Augustine Godzi brings onboard 20 years experience in the corporate and insututional banking sector across Europe and Africa . Prior to his appointment, Xorse Augustine Godzi was the Head of Ghana Corporates, and also an Executive Director on the Board of Standard Chartered Bank Ghana PLC. He is a fellow of the Association of Chartered Certified Accountants (ACCA) and an alumna of the University of Ghana where he obtained a BSc. Administration (Accounting) degree. Highlighting his proven track record, the Bank noted that his expertise uniquely positions him to spearhead the company’s future success. “ Xorse has in-depth knowledge of key industry sectors in Africa spanning across mining, energy, manufacturing, agriculture, financial services, real estate amongst others. He is experienced in providing sustainable solutions to clients and managing client relationships across multinational regional, local, and public sector client segments.” Standard Chartered Bank Ghana PLC is one of Ghana’s oldest and largest financial institutions. Founded in 1896, it operates as a major subsidiary of the global Standard Chartered Group.

Banking & Finance

First Atlantic Bank PLC to payout GHS 0.29 per share as Dividend for the 2025 Financial Year

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  First Atlantic Bank PLC has announced the payment of a final dividend of GHS 0.29 per share to its shareholders for the 2025 financial year. In a statement released,the bank having recently listed on the Stock Market just last year explained that this follows approval from the Central Bank to payout its first ever dividends. The total amount to be paid out as dividend for the 2025 financial year is One Hundred Million Ghana Cedis (GHS 100,000,000.00) and is expected to be paid out on the 21st of May 2026 rather than the 7th of May 2026, that was communicated earlier in its Annual Report. The Bank explained that the pushback in dividend was as a result of timing of the approval by the Bank of Ghana which occurred on May 6,2027. This comes after the bank demonstrated outstanding financial resilience and growth in the 2025 financial year recording a profit after tax of GH¢482.9 million.