Kofi Ahovi

  GhIPSS Instant Pay (GIP) has been ranked the most advanced on the African continent per the financial inclusivity criteria outlined in the the State of Instant and Inclusive Payment Systems (SIIPS) report for 2022 by AfricaNenda. In 2021, the SIIPS Report adjudged the Ghana the only country to have reached maturity stage in terms of financial inclusion – based on the instant pay and interoperability platforms at Ghana Interbank Payments and Settlements Systems (GhIPSS), which underpins a financial inclusion triangle. Per the AfricaNenda criteria, instant pay solutions should not only be accessible and affordable, but also have a wide range of use cases that ensures that people everywhere, which all kinds of devices and of all kind social statuses in the particular country are using it. In the case of Ghana, the interoperability platform integrates banks, telcos, fintechs, and even state institutions, such that users can make payments with both feature and smartphone devices to wa...

  Twitter Chief Executive Elon Musk on has said that the short messaging platform will soon introduce new features, including calls and encrypted messaging.  Last year, Musk flagged plans for “Twitter 2.0 The Everything App”, which he said would have features such as encrypted direct messages (DMs), longform tweets and payments. Coming soon will be voice and video chat from your handle to anyone on this platform, so you can talk to people anywhere in the world without giving them your phone number,” Musk said in a tweet on Tuesday.

 Economist at Louisiana Economic Development in the USA, Dr. Sa-ad Iddrisu, has revealed a looming banking crisis in Ghana if the government is unable to get the $1.5 billion dollar Stability Fund by July 2023. According to him, if government is not able to get the funds by July this year, some banks will start collapsing since they won’t be able to pay their workers and keep their operations running. He argues, already, some banks have recorded huge losses, therefore the lack of liquidity support from the Stability Fund will leave them with the option to fold up or reduce their number of branches, which will result in job losses. Speaking in an interview on the AM Show on Joy News, Dr. Sa-ad Iddrissu said the government must speed-up processes in mobilising funds to cushion the banks from this timing canker. We are heading into a banking crisis, believe it or not, we are currently suffering. If government is not able to get the $1.5 billion Stability Fund by July 2023, some banks ...

 The Institute of Economic Affairs (IEA) has called for the establishment of an Independent Parliamentary Budget Office to monitor Ghana’s monetary and fiscal systems. This, the institute says will ensure a stricter monetary and fiscal management systems to transform the economy. Addressing a group of Civil Society Organizations, Director of Research, Dr. John Kwakye, said a parliamentary budget office is necessary in assessing and estimating the cost of government projects and programmes. Dr. Kwakye explained that a parliamentary budget office will be different from the current Fiscal Council in the country. He pointed out that the parliamentary budget office will be made up of independent professionals We are calling for the establishment of an independent parliamentary budget office, that’s what is normally called a fiscal council. In the US they have a conventional budget office. In the UK, they have office of budget responsibility and others have the fiscal councils”. “The ide...

  MTN Group is in advanced talks with Axian Group to sell some of its West African markets, according to people familiar with the matter, as Africa’s largest mobile operator trims its portfolio. The two companies are negotiating on prices for MTN’s assets in Liberia, Guinea-Bissau and Guinea-Conakry, said the sources, who pleaded anonymity because the information is private. The deal has not been finalised, and there is no guarantee that a transaction will go ahead, they said. A representative for MTN declined to comment. A spokesman for Mauritius-based Axian didn’t have an immediate comment. MTN’s group CEO, Ralph Mupita, has been evaluating the company’s portfolio as the mobile phone company narrows its focus and resources on core markets, which include its biggest West African assets  Nigeria and Ghana. MTN operates in 19 countries in Africa, and has exited certain Middle Eastern businesses such as Afghanistan, Yemen and Syria. Africa, which has a young population and a bur...

  Africa-focus venture fund,  Oui Capital  is set to hold a networking mixer in Accra, Ghana for tech industry players and  investors to share ideas. The mixer, slated for  May 17, 2023  will provide a rare opportunity for start-up founders across industries and tech ecosystem operators to meet potential investors who could help accelerate their start-ups in the future. A statement from Oui Capital said “As an Africa-focused venture, we are dedicated to fostering meaningful connections between founders and investors and other key operators to drive innovation and growth in the region.” Managing Partner at Oui Capital, Olu Oyinsan said Ghana is a very important ecosystem in the company’s Africa strategy “so we are thrilled to connect in person with the entrepreneurial community here anytime we get the chance.” It said Oui Capital’s mission is to support and empower the next generation of African entrepreneurs, and the upcoming event is just one of the ways t...

  Uber Technologies has launched international and domestic flight bookings on the UK version of its app, the Financial Times reported on Wednesday. The move is “the latest and most ambitious step” in the company’s strategy to expand its core ride-booking business, Uber UK GM Andrew Brem told the FT (paywall). The San Francisco-based company, which already offers train and coach ticket bookings in the UK, has begun rolling out the new feature for its UK customers and plans to expand in the coming weeks, the report said. Uber has partnered with travel booking company Hopper to sell flights and will take a small commission from each sale, the report said. Uber did not immediately respond to a request for a comment.