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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.
Financial inclusion is the availability and equality of opportunities to access financial services. [1] It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which include banking, loan, equity, and insurance products.
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 Ghana Investment Fund for Electronic Communications (GIFEC) was established as an implementing agency of the Ministry of Communications, in January 2004, with the formulation of the comprehensive ICT for Accelerated Development (ICT4AD) Policy, which seeks to engineer an ICT-led socio-economic development process with the potential to transform Ghana into a middle income, information-rich ...
Ghana's Finance Minister expects a draft Memorandum of Understanding (MoU) from the country's bilateral creditors in May on a restructuring deal, he said on Sunday. The MoU, once signed, would ...
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.
Financial deepening is a term used by economists to refer to increasing provision of financial services. It can refer both a wider choice of services and better access for different socioeconomic groups. [1] Financial deepening can have an effect on both individuals' and societies' economic situations.
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.