ATMIA Africa Regulatory Liaison Committee Banking Technology Forum/ATMI… · Africa Country Profiles: Ghana Africa Banking Country Profiles - Focus on Ghana Hosted by ATMIA Africa

ATMIA Africa Regulatory Liaison CommitteeAfrica Country Profiles: Ghana

Africa Banking Country Profiles - Focus on Ghana

Hosted by ATMIA Africa Regulatory Liaison Committee

Michael Lee, CEO, ATMIA

Andrew Dean, Executive Director, Africa and Middle East, ATMIA

Guest Panelist: Clara Arthur, GM: Projects and Business Development at the

Ghana Interbank Payments and Settlement Systems (GhIPSS)

Housekeeping

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Agenda

ATMIA Africa country profile Ghana – Stakeholders, Regulation,

Country and Banking Data

Ghana in-country insight – interpretation and opportunities

GhIPSS profile and role

Q&A, items for future discussion

ATMIA Africa Regulatory Liaison Committee – Country Profiles

A service for ATMIA members from the ATMIA Africa

Regulatory Liaison Committee

Profiles of select African countries for banking, ATM and

payments stakeholders

Country Profile for: Ghana

Content – ATMIA Africa RLC Country Profile for Ghana

Country Snapshot

Industry Stakeholders

Banks, switches, solution providers, associations

Legislation and Regulations

Banking, payments, privacy and data protection

Country Metrics

Addressable population, road and electricity infrastructure, banking

maturity, technology penetration, business environment

Banking and Payment Metrics

Mobile, ATM, payments, financial inclusion

Population: 27 million

Regional co-operation: Part of

Economic Community of West

African States (ECOWAS) –

Benin , Burkina Faso, Cabo

Verde, Côte D'Ivoire, The

Gambia, Ghana, Guinea,

Guinea Bissau, Liberia, Mali

Niger, Nigeria, Senegal, Sierra

Leone, Togo

Neighbours: Ivory Coast in the

west, Burkina Faso in the north,

Togo in the east

Top cities:

• Accra – 2.3m+

• Kumasi – 2m

• Tamale, Takoradi, Achiaman

– 200 to 300k+

Top industries:

• Services 47%

• Agriculture 20%

• Construction 10%

• Transport 9%

• Mining 7%

• Manufacturing 6%

• Utilities 1%

Ghana - Snapshot

Industry Stakeholders – Banking and Payments

Central Bank, Switches and Clearing Houses

Licensed Banks

Industry Associations

Regional Economic and Banking Co-operation

Mobile Money Operators

Other Telecoms and Solution Providers

Industry Stakeholders – Banking and Payments

Central Bank, Switches and Clearing Houses

Bank of Ghana – Central Bank

GhIPSS

Licensed Banks

https://www.bog.gov.gh/privatecontent/Banking_Supervision/LICENSED%20BANK

S%20Addresses%20-%20June%20%202016.pdf

Regional Economic and Banking Co-operation

ECOWAS (Economic Community Of West African States

Industry Stakeholders – Mobile, Telco and Payment Solutions

Mobile Money Operators

Airtel

MTN

Tigo

Vodafone

Telecoms Authority

National Communications Authority

Legislation and Regulations – Banking and Payments

Banking

Payments, Agency, Mobile and Electronic Banking

Bank of Ghana Act, 2002 Act 612:The Act makes the BOG the authority

responsible for payment and settlement systems in Ghana.

The Bills of Exchange Act, 1961, Act 55:

Specifies how cheques are drawn, accepted and paid.

A process has been set in motion by the Bank of Ghana to have this Act

reviewed to reflect current trends.

The Payment Systems Act, 2003, Act 662:

Legislative framework which further empowers the BOG to oversee and

manage the payment systems - to establish, operate, promote and

supervise payment, funds transfer, clearing and settlement systems subject

to such rules as it may publish;

Electronic Transactions Act 2008, Act 772

To provide for and facilitate electronic communications and related

transactions in the public interest, and to (a) remove and prevent barriers to

electronic communications and transactions; (b) promote legal certainty and

confidence in electronic communications and transactions

National Payments Strategy

https://www.bog.gov.gh/privatecontent/Banking/National%20Payments%20St

rategy%20Final%20version.pdf

Legislation and Regulations – Inter-bank Settlement, Financial Inclusion, Data Protection

Inter-bank Settlement

Data Protection, Privacy and Data Sovereignty

Data Protection Act 2012

https://www.dataprotection.org.gh/sites/default/files/Data%20Prot

ection%20Act%20,%202012%20(Act%20843).pdf

Cheque Codeline Clearing with Cheque Truncation Guidelines and

Operational Procedures

https://www.bog.gov.gh/privatecontent/Banking/LEGAL%20

AND%20REGULATORY%20FRAMEWORK.pdf

Ghana Automated Clearing House Direct Credits & Debits

Guidelines and

Operational Procedures.

• Ghana Bankers’ Clearing House Rules;

National Payments Strategy

Country Metrics – Economic, population, infrastructure and business

Data sources:

• World Bank

• World Economic Forum

• Transparency

International

Ghana Nigeria

South

Africa Kenya Tanzania

Addressable Population

GDP per capita (US$) 1442 3 203 6 484 1 358 955

Population (millions) 27 178 54 45 52

Employment of working age pop. (of age 15+) 68% 52% 39% 61% 86%

Road and Electricity Infrastructure

Quality of roads 53% 38% 70% 61% 43%

Quality of electricity supply 42% 23% 51% 55% 35%

Business Environment

Corruption Percpetion Index (Rank out of 168) 56 136 61 139 117

Ease of doing business (Rank out of 189) 114 169 73 108 139

Country Metrics – Banking and consumer technology

Data sources:

• World Bank

• World Economic Forum

• Transparency

International

Ghana Nigeria

South

Africa Kenya Tanzania

Banking Maturity

Availability of financial services 57% 59% 88% 67% 52%

Soundness of banks 62% 68% 93% 75% 60%

Account at financial institution (of age 15+) 35% 44% 69% 55% 19%

Commercial bank branches (per 100,000 people) 6 6 11 6 2

ATMs per 100,000 (per 100,000 people) 8 16 66 10 6

Mobile accounts (per 100,000 people) 13 2 14 58 32

Technology Penetration

Mobile cellular subscriptions (per 100 people) 115 78 149 74 63

Fixed broadband subscriptions (per 100 people) 0.3 0.0 3.0 0.2 0.2

Internet users (per 100 people) 19 43 49 43 5

Fixed telephone subscriptions (per 100 people) 1.0 0.1 6.9 0.4 0.3

Retail Banking Data - Access

Barclays Bank of Ghana

Fidelity Bank

Ecobank Ghana

Access Bank

Retail Banking Data - Access

Official Data – Bank of Ghana

2010 20155 year

growth

Total cards issued 496 538 1 369 369 176%

Transaction volume 460 746 2 251 101 389%

E-zwich (Biometic Payment Card)

2012 20153 year

growth

Mobile phone subscribers 25 618 427 35 008 387 37%

Mobile money customers 3 778 374 13 120 367 247%

Active MM customers 345 434 4 868 569 1309%

Volume 18 042 241 266 246 537 1376%

Value (GH¢'million) 594.12 35 444.38 5866%

Mobile Money (Airtel, MTN, Tigo, Vodafone)

2012 20153 year

growth

Volume 10 295 1 899 645 18352%

Value (GH¢'million) 1.10 305.14 27640%

gh-link (ATM interbank card switch)

Next Steps

Extend profile to include required metrics and profile information for

bank and non-bank stakeholders

Obtain input from broader members and non-members on profile

contents and scope

Finalise profile scope

Obtain participation and input from in-country central bank or switches

or banking association in Ghana

Expand country profiles to rest of “Group of 5”

Expand country profiles to “Top 15” in sub-Saharan Africa

GhIPSS - Ghana Interbank Payments and Settlement Systems

Clara Arthur, GM: Projects and Business Development at the Ghana Interbank Payments and Settlement Systems (GhIPSS)

GhIPSS

The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) is a wholly

owned subsidiary of the Bank of Ghana. It was incorporated in May 2007 with a

mandate to implement and manage interoperable payment system infrastructures for

banks and non bank financial institutions in Ghana.

In line with its mandate, GhIPSS has implemented and currently manages the National

Switch and Biometric Smart Card Payment System, e-zwich and the Cheque

Codeline Clearing (CCC) and Automated Clearing House (GACH) systems. The former

switches and settles automated banking and payment transactions while the latter systems

handle the electronic clearing of cheques and the processing and settlement of bulk debit

and credit transfers between banks.

GhIPSS is committed to maintaining very high standards of excellence, reliability, integrity,

and timeliness for all its infrastructure. These standards have enabled GhIPSS to attain

ISO27001 certification within two years of commencement of business.

GhIPSS´ payment infrastructure is currently used by all banks in Ghana including Rural

and Community Banks and Savings and Loans.