Hubtel Secures full license to operate as an Enhanced Payment Services Provider

Ghana’s leading payments, quick commerce, and messaging technology company, Hubtel, has received a full and final license from the Bank of Ghana (BoG) to operate as a Payment Service Provider (Enhanced).

In September 2019, the Bank of Ghana, in a notice to banks and non-bank financial institutions, stated the need for institutions such as financial technology companies to “provide the legal and regulatory framework for the orderly development of payment systems in Ghana.” Hubtel applied to be licensed among the pioneering companies to fill this emerging space and was granted initial approval to operate as an enhance payment service provider by the Bank of Ghana in August 2020.

According to press release from Hubtel copied to BusinessweekGhana, The issuance of the final license is significant as it confirms that Hubtel’s payment processing operations are compliant with the standards of the central bank of Ghana, and thus permits it to continue to provide enhanced payment services and innovative solutions to the general public.

Commenting on the occasion, the General Manager of Hubtel, Ernest Apenteng, said, “We are indeed happy to receive our final operating license from the Bank of Ghana. For us this occasion is a major comfort and milestone for the leadership at Hubtel. It also shows our commitment and belief in Ghana’s emerging digital economy. Our clients, customers, partners and indeed our regulators should trust, and rest assured, that Hubtel intends to remain compliant with all regulations that govern our operations, this already is, and will remain, a responsibility of all staff and stakeholders of Hubtel”

In addition to the Bank of Ghana, Hubtel is notably licensed by the National Communications Authority, certified by the Data Protection Authority and is registered with the Financial Intelligence Centre. The company is also certified as compliant with Payment Card Industry Data Security Standards and ISO 27001 Information Security Management Standards.

Comments

Ghana Home Loans

With interest rates declining, a more liquid environment and a macroeconomic stability, mortgage financing is expected to see an ease of credit. And Ghana Home Loans being a leader in this industry is expected to lead the way. Ghana Home Loans (GHL), a leader in home mortgage, continues to be the frontier in fulfilling dreams of many Ghanaians in homeownership. Since starting business in 2006, it has also provided many existing homeowners with Equity Release mortgages to support their businesses, pay educational fees, improve their properties, or simply pursue other personal hobbies and interests. Ghana Home Loans is a mortgage finance institution which operates under Bank of Ghana’s supervision as a non-bank financial institution. At present, the Company remains the only such institution that focuses exclusively on the provision of mortgage product. Through the Home Completion mortgage and Home Construction mortgage products, Ghana Home Loans has enabled many qualified applican

COP29: EU-Africa Chamber of Commerce to host a panel discussion on Access to Finance & Sustainability

The EU-Africa Chamber of Commerce (EUACC) will be hosting a pivotal panel discussion at COP 29 in Baku, Azerbaijan, focusing on "Access to Finance & Sustainability: A Call to Action for Resilient Growth in Africa." This event, held at the Côte d'Ivoire Pavilion, brings together experts, investors, and policymakers to tackle financing challenges and sustainability priorities within Africa's maritime sector. The panel discussion of the EU-Africa Chamber of Commerce during the COP 29 will gather experts, investors, and policymakers to address financing challenges and sustainability priorities with a focus on Africa’s maritime sector. The discussion builds on the Ten-Point Call to Action established during the recent EUACC-led conference in Abidjan in October 2024. The commitment of the EU-Africa Chamber of Commerce is clear: contribute to address the critical challenge of access to finance. This obstacle hinders the development of infrastructure, innovation, and eve

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea

Kofi Ahovi

Search This Blog