🇬🇭Ghana
Payment trends and fintech news from Ghana
African Fintechs Deploy Alternative Data to Extend Credit to Underserved
African fintech startups are using alternative data from mobile money and digital transactions to offer credit to an estimated 300 million people without formal credit histories. While the model shows promise in expanding financial access, its scaling faces challenges, including regulatory hurdles and low merchant adoption for services like BNPL in West Africa.
Bank of Ghana Prohibits Financial Institutions from Supporting Crypto-Linked Dollar Accounts
The Bank of Ghana has banned banks and financial institutions from supporting foreign currency accounts used for cryptocurrency transactions, effective June 15, 2026. The directive aims to protect the cedi and prevent capital flight, highlighting divergent regulatory approaches to digital assets across Africa.
Bank of Ghana directs banks to cease support for foreign currency crypto wallets
The Bank of Ghana has ordered all regulated financial institutions to immediately stop processing transactions for cryptocurrency accounts held in foreign currencies. This directive aligns with a regional trend of tightening controls over digital financial flows, as seen in Nigeria's recent orders for fintech divestitures and data localisation.
PawaPay Processes Three Billion Transactions as Merchant Payments Grow
PawaPay has processed three billion transactions, driven by a surge in merchant payments across Africa. The milestone coincides with new regulatory directives in Nigeria and a major investment in rival Flutterwave, highlighting a period of both growth and formalization in the continent's fintech sector.
NALA Secures $50 Million Credit Facility to Expand Cross-Border Payments
African payments company NALA has secured a $50 million credit facility to expand its cross-border remittance and B2B payment services. The debt financing reflects a broader trend in African fintech towards building credit infrastructure and deepening financial services beyond core payments.
Aruwa Capital Invests $2 Million in Sika Financial Group for Cross-Border Expansion
Aruwa Capital Management has invested $2 million in Ghana's Sika Financial Group to help the fintech expand its cross-border payments and business finance infrastructure. The move aims to address persistent inefficiencies in intra-African financial transactions for small and medium-sized enterprises.
MTN MoMo Ghana Posts GH¢1.7 Billion Revenue in First Quarter
MTN's mobile money service in Ghana reported revenue of GH¢1.7 billion for the first quarter of 2026. The result comes as MTN Group seeks fintech licenses across Africa and upgrades its Nigerian platform via a partnership with Ant International.
enza Gains Ghanaian License as Cross-Border Payments Race Intensifies
Ghanaian fintech enza has secured a Payment Service Provider license from the Bank of Ghana, authorizing it to offer digital payment services. The approval arrives amid a regional drive for interoperable cross-border payments and increasing competition that is squeezing fintech profit margins.
Ghana, Rwanda and Zambia test interoperable cross-border payment system
Ghana, Rwanda and Zambia are conducting a pilot test of an interoperable cross-border payment system designed to connect their domestic mobile money networks. The initiative comes amid heightened competition in Africa's payments sector and evolving regulatory frameworks that could shape the future of digital finance on the continent.
Yuno Partners with Onafriq to Connect Global Merchants to African Payments
Yuno has partnered with Onafriq to integrate hundreds of African payment methods into its global orchestration platform. The deal aims to simplify cross-border commerce for international merchants by providing a single gateway to local options like mobile money and bank transfers.
Flutterwave Plans Ghana Stablecoin Launch Amid Cross-Bayment Tests
Flutterwave is planning to launch a stablecoin for payments in Ghana, entering a market where competition is intensifying and regional cross-border payment systems are being tested. The move coincides with Enza receiving regulatory approval in Ghana and reflects a broader trend toward digitized payment infrastructure across Africa.
Egypt's enza gains enhanced payments licence in Ghana as Pan-African competition intensifies
Egyptian fintech enza has received an enhanced Payment Service Provider licence from the Bank of Ghana, enabling its entry into the West African market. The move occurs amid heightened competition in pan-African payments, where industry reports indicate increasing pressure on service margins.
Sika Fintech Secures $2 Million to Streamline African Cross-Border Payments
Ghanaian fintech startup Sika Fintech has raised $2 million to develop technology aimed at improving cross-border payments in Africa. The funding will be used to address high costs and inefficiencies that hinder intra-regional trade and financial flows.
PayAngel expands African payouts with Visa and Currencycloud integration
PayAngel has partnered with Visa and Currencycloud to expand its remittance payout network across Africa, aiming for faster and more transparent transfers to bank accounts and mobile wallets. The move aligns with broader industry efforts to improve cross-border payment efficiency on the continent through new partnerships and digital asset integrations.
MTN Group Launches Pan-African Streaming Service One TV
MTN Group has launched a new video streaming platform, One TV, in four African countries. The service represents the telecom operator's renewed attempt to capture a share of the continent's growing digital content market.
Aruwa Capital Invests in Ghana's Sika Financial Group
Aruwa Capital Management has invested in Ghana's Sika Financial Group to support the expansion of financial services for underserved consumers and SMEs. The deal is part of a broader trend of investment in Africa's credit infrastructure, following recent funding for players like Egypt's Blnk and MNT-Halan.
Bank of Ghana Suspends MTN's 0.75% MoMo Wallet-to-Bank Fee
The Bank of Ghana has suspended a 0.75% fee on MTN mobile money wallet-to-bank transfers, which was introduced on June 1, 2026. The regulator cited a lack of prior approval and public outcry, directing MTN to halt the charge pending a formal review.
Interswitch partners Temenos to expand banking technology services in Africa
Interswitch has partnered with Temenos to offer managed banking services to financial institutions across Africa. This collaboration enables Interswitch to provide comprehensive banking technology solutions, targeting the modernization of legacy systems in key African markets.
Esca Finance Partners with MANSA for Same-Day African Payment Settlements
Esca Finance has partnered with MANSA to enable same-day payment settlements across key African corridors, utilizing stablecoin-backed infrastructure. This collaboration aims to enhance liquidity and accelerate cross-border transactions for businesses, reducing the need to pre-fund accounts in multiple markets.
M-Pesa launches direct cross-border payment corridor with Ghana
M-Pesa has launched a direct cross-border payment service between Kenya and Ghana, enabling faster and potentially cheaper remittances. The move expands the mobile money giant's network in West Africa and aligns with broader efforts to facilitate intra-African financial flows.
Fido Money Launches AI-Powered Lending Platform in Ghana
Ghanaian fintech Fido Money has introduced an AI-powered lending platform to expand credit access. The launch coincides with the Ghanaian government's stated policy of using digital payments and fintech regulation to stimulate financial market growth.
MTN Ghana Mobile Money Fee Suspended by Central Bank
The Bank of Ghana suspended a proposed transfer fee on MTN's mobile money service, citing consumer protection. This contrasts with Vodacom M-Pesa Tanzania's expansion via a new PayPal partnership for global payments.
Ghana's central bank signals interest in stablecoins for regional trade
The Bank of Ghana is examining the use of stablecoins to improve cross-border trade efficiency in Africa, aligning with new infrastructure initiatives from Visa and Mastercard. The global payment networks are developing crypto-based settlement systems for the continent, signaling a shift toward blockchain technology in mainstream African finance.
Mastercard Partners with Yellow Card to Expand Stablecoin Payments in Africa
Mastercard has partnered with crypto exchange Yellow Card to expand stablecoin-based payment services across Africa, aiming to simplify cross-border transactions. The move aligns with growing interest from other payments firms and central banks in leveraging digital currencies for trade and remittances.