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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.
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.
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 ...
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.
Journal of Microfinance, a forum for practitioners in microfinance and microenterprise development to exchange information and ideas; Omidyar-Tufts Microfinance Fund, a partnership between Pierre Omidyar and Tufts University. "Microfinance in the U.S." Helping ensure egalitarian access to needed financial services.
Ghana became the largest gold-producing country in Africa after overtaking South Africa in 2019. [28] The country is also the second-largest cocoa producer (after Ivory Coast). [29] Ghana is rich in diamonds, manganese or manganese ore, bauxite, and oil. Most of its debt was cancelled in 2005, but government spending was later allowed to balloon.
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.