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Access to finance is the ability of individuals or enterprises to obtain financial services, including credit, deposit, payment, insurance, and other risk management services. [1] Those who involuntarily have no or only limited access to financial services are referred to as the unbanked or underbanked, respectively.
The following list ranks countries by the share of population with access to financial services. Access to financial services is defined as the share of the adult population (population ages 15+) with an account ownership at a financial institution or with a mobile-money-service provider. The data for the ranking taken from the Global Financial ...
The digital divide is an economic and social inequality with regard to access to, use of, or impact of information and communication technologies (ICT). [1] Factors causing the divide can vary depending on the country and culture, as can the potential solutions for minimizing or closing the divide.
The Ghana banking crisis was a severe banking crisis that affected Ghana between August 2017 and January 2020. The Bank of Ghana (BoG) allowed several indigenous banks to be taken over by private companies between August 2017 and January 2019 after Nana Akufo-Addo was elected president in December 2016.
The National Information Technology Agency (NITA) is the implementing agency for the Ghana Open Data Initiative (GODI). [5] [2] [4] The GODI portal was developed on the fourth thematic area of the Open Government Partnership. The objectives of the GODI project are to: Provide a central platform for access to public government data.
When access to credit is combined with savings facilities, non-productive loan facilities, insurance, enterprise development (production-oriented and management training, marketing support) and welfare-related services (literacy and health services, gender and social awareness training), the adverse effects discussed above can be diminished. [41]
Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. [1] [2]
The Ministry of Finance and Economic Planning is the government ministry responsible for the economic and monetary health of Ghana. The Ministry is involved with economic planning , fiscal policy , national accounting , the national budget , and creating an environment for investment and growth.