Banks that started late in the digital race can still win – if they partner with fintechs,” says Prudential Bank’s Acting Managing Director, Ebow Quayson. “Partnerships are no longer optional. They are the quickest route to scale.” Speaking to a Pan-African audience at the Lafferty Retail Banking Council Africa Meeting, Quayson pointed to PBL’s own digital journey as proof saying fintechs came handy to close the gap on reach and service delivery almost overnight. At a time when our digital infrastructure was still developing, fintech partnerships enabled us to quickly bridge the gap in reach and service delivery,” he explained, citing mobile money integration and USSD-based services as key examples. “Prudential Bank was not a partner bank to any telco, yet customers needed mobile money services on the Bank’s USSD platform. Instead of building everything from scratch, the Bank turned to fintechs. “They helped us narrow the gap quickly – in reach, speed to market, and value-added s...
The Bank of Ghana has defended its financial position for 2025, insisting it remains fully capable of executing its core monetary policy mandate despite recording a GH¢15.6 billion operating loss and deepening negative equity. In its latest financial statement, the central bank stressed that it is still “policy solvent,” meaning it can continue to manage inflation, interest rates, and liquidity conditions without requiring emergency government support. According to the Bank, its ability to generate income from monetary policy operations—particularly open market operations—provides sufficient internal resources to sustain its activities, even amid ongoing economic pressures. The Bank remains policy solvent and capable of implementing its core mandate without reliance on emergency government support,” it said. It added that, “its ability to generate sufficient income from monetary policy operations… underpins its capacity to finance ongoing interventions.” The Bank noted that struc...