A Senior Manager at Deloitte Ghana, Cheryl Otoo, has challenged Small and Medium-sized Enterprises (SMEs) to look beyond business growth and prioritise bankability if they are to attract the right sources of funding. Cheryl Otoo said although growth demonstrated that a business was creating value, it did not, on its own, give lenders and investors sufficient confidence to commit capital. A bankable business is, therefore, one that is ready to attract funding, with credible financial records, the right management team, appropriate governance structures, documented risk management systems, a clear strategy, and evidence of market traction. According to her, “growth demonstrates opportunity while bankability attracts capital”. Otoo made this assertion during an Investment Readiness Series webinar organised by the UK-Ghana Chamber of Commerce (UKGCC) in partnership with Deloitte Ghana, on the theme: “Bankability vs Growth: What Capital Providers Really Want, From Readiness to Deals –...
Ghana’s shift towards a cash-lite economy gained further momentum in 2025, as internet banking transaction values jumped 80.7 percent to GH¢383.82 billion, while interbank cheque volumes declined by 4.8 percent. The growing preference for digital payment channels is increasingly reflected in the declining use of traditional payment instruments, particularly interbank cheques. Data from the Bank of Ghana’s Payment Systems Oversight Annual Report 2025 shows that the volume of interbank cheques cleared fell by 265,641 in 2025, representing a 4.8 percent decline. Although the value of cheque transactions continued to increase, the pace of growth slowed significantly. The total value of cheques cleared rose to GH¢415.20 billion in 2025, from GH¢385 billion in 2024, representing a 7.9 percent increase, compared with a 31 percent growth recorded in 2024. The continued moderation in cheque volumes and values is attributed to the reduced use of cheques, as individuals increasingly opt for...