PAPSS will bring everyone on board The Pan African Payment and Settlement System (PAPSS) is poised to incorporate all regulated payment and settlement outlets across participating countries into its framework, and in the process ensure that no segment of the economy is left out. In Ghana, banks and non-bank financial institutions – including saving and…

Enhanced collaboration by relevant stakeholders is needed to harness the full range of benefits, including interoperability, from payment and settlement systems on the continent, panelists at the second edition of The Money Summit, organised by the B&FT have said. According to the panelists, who were speaking on the topic: ‘Africa’s Payment and Settlement Systems; Opportunities,…

AN EFFECTIVE PAPSS COULD ACTUALISE COMMON CURRENCY ASPIRATION – FIDELITY BANK’S YEBOAH-GYAN     Effective implementation of the Pan African Payments and Settlement System (PAPSS) could move the continent closer to realising a common currency. This, according to Atta Yeboah-Gyan – an executive at Fidelity Bank, is because PAPSS will eliminate many of the challenges…

PROHIBITION OF PRICING, ADVERTISING, RECEIPTING AND/OR MAKING PAYMENTS FOR GOODS & SERVICES IN FOREIGN CURRENCY IN GHANA Further to Bank of Ghana’s previous notices Nos. BG/GOV/SEC/2019/07 and BG/GOV/SEC/2012/12 which advised the public against unauthorized dealings in foreign currency, Bank of Ghana hereby reminds the public that in accordance with the Foreign Exchange Act, 2006 (Act…

BANK OF GHANA ADOPTS RETAIL TOKEN-BASED DIGITAL CURRENCY The Bank of Ghana has adopted a retail token-based central bank digital currency (CBDC) as the ‘eCedi of choice’, which enables the currency to be stored locally on a card, on a phone, or a smart device and can be passed on from one user to another….

PRESIDENT AKUFFO-ADDO DECLARES JUNE 10 AS GREEN GHANA DAY President Nana Addo Dankwa Akufo-Addo has declared June 10 as this year’s Green Ghana Day with a target to plant 20 million trees across the country. He has, therefore, called on all Ghanaians and foreigners living in the country to plant at least one tree to…

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