Central Banking

Ghana’s Addison warns banks on price of not innovating

Bank of Ghana

The governor of the Bank of Ghana has warned traditional banks risk disappearing altogether if they do not keep pace with the innovative products provided by emerging fintech companies.

“Digitisation, competition and innovation have led to significant changes in the payments sphere,” Ernest Addison said earlier this month.

“It is clear the future of money and finance will be marked by innovation, new technologies and increased competition across borders. This may subsequently lead to the

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