Fintech is a booming industry that's on everyone's mind, especially investors.. The Ghana Fintech and Payment Association has welcomed the recently launched Bank of Ghana's Regulatory Sandbox, noting that the new initiative goes to further enhance the BoG's stance on openness and commitment to ensuring a stable financial sector. Accra. . ExpressPay. An Overview of the Current Fintech Startup Ecosystem in Ghana Technological disruption in the financial services sector has opened a new marketplace in Ghana to establish fintech companies. Zeepay Ghana Limited. Based out of Nairobi, Nairobi Area, Kenya. Fintechs - For private fintech companies, charges vary widely. We've ranked t In its 2020 African tech startups funding report, Disrupt Africa identifies 99 fintech companies across 11 countries that raised some form of external funding from investors. The Bank of Ghana, the regulatory body for financial institutions is therefore at the heart of the success of the FinTech ecosystem in Ghana. Nvoicia Hubtel Top FinTechs In Ghana What else do you know that has gone viral around the world except for fintech? The Bank of Ghana seeks to achieve an increase in financial inclusion by 75% by the end of 2023. Paystack is rated one of the top FinTech companies in Nigeria as the company has not less than 17,000 business clients such as Betway, MTN, IrokoTV, Domino and Taxify. OISL is at the forefront of delivering transformational nancial services to help transform the lives of clients. 1. The Bank of Ghana last year published the circular A Summary of Economic and Financial Data, highlighting that the number of active mobile money accounts grew to 17.5 million last February (compared to a year prior in 2020 at 14.7 million. Sarp IT Consulting is a standard and world-class IT consulting firm that is located in Chicago, IL And Accra - Ghana. Total raised. In 2019, Nigeria officially recognized its first FinTech Unicorn with Interswitch, achieving a valuation of $ 1 billion based on a $200million investment from Visa. Installation of white Label cards For a better working of the companies Fintech Token Develop offers the option of the card White Label. BOND Savings and Loans, a Ghana-based financial services company, has selected new core banking software provider and system as it is aiming to become a fully-fledged bank in 2017. What is fintech? ADDRESS:-. The fintech ecosystem in Nigeria is largely comprised of businesses focused on mobile payments, digital banking, merchant solutions and personal finance, including wealthtech. The two-day event provided a platform to showcase, engage, strategize, and [] Founded. McKinsey analysis estimates that Africa's financial-services market could grow at about 10 percent per annum, reaching about $230 billion in revenues by 2025 ($150 billion excluding South Africa, which is the largest and most mature market on the continent) (Exhibit 2). The company was founded in 2013 and is based in Nigeria, and it has over 5 million customers across Africa and employs over 800 people worldwide. The FinTech Ecosystem Payment solution companies such as mobile money services operated by telcos, smartphone applications such as zeepay and expresspay, crowdfunding apps like GoFundMe and Kickstarter, Insuretech, distributed ledger technologies such as blockchain and cryptocurrencies are key components of the FinTech ecosystem. Insurtech startups in Ghana are: Insurerity PSYNTHAX Triva BezoMoney Bloom Impact Pennysmart Digisave 1. While the list includes fairly established startups like Flutterwave, the majority are new ventures with some receiving funding barely six months after launching operations in 2020. Then. Incorperated in 2015, it remains one of the best in Nigeria. Below are some top-notch Fintech companies in Ghana. Accra, Oct. 30, GNA - The second edition of the Digital Banking, Innovation and Fintech Festival by Standard Chartered Bank PLC, which brought together industry players, seasoned experts and practical Fintech innovators from Africa, Singapore, and other parts of Asia has ended in Accra. Fintech is the term that describes the group of new financial technologies designed to enhance and automate the use and delivery of financial services. An Examination Of The Regulatory Framework Of Financial Technology In Nigeria Marcus-Okoko & Co The Financial Technology (fintech) Industry is rapidly developing in Nigeria. Also existing within this category are ALEXpay, PalmPay, FlexiPay, Mazzuma, ZeePay, etc., which are just a few of the newer payment platforms which will individually be covered in subsequent articles. According to the companies, including telecommunication operators, the e-levy which is expected to take effect from January 2022 would derail [] The Ghana Fintech and Payments Association is the foremost fintech hub and not-for-profit organization established to promote the advancement of financial technologies and payment systems in Ghana. 6. Following shortly in 2020, Stripe a US-based financial services company agreed to acquire Paystack in a $200million deal, just five years after Paystack was founded. Before applying for a licence, the FinTech company must be a company incorporated under the laws of Ghana and must provide an overview of the company and attach the registration documents from the Registrar General's Department. Fintech companies in Nigeria - Fintech has emerged as the new disruptive market force, which has continuously distort the financial services traditional means in Nigeria. . Properties Portfolio Ghana has many development projects across the nation and provides other essential services such as brokerage services. The Quantum Group, a company based in Ghana with vertically-integrated operations in the transportation and logistics. . We use this directory of startups to highlight top employees, founders and organisations we think deserve more appreciation than they are currently getting. It was founded in 2012 and has since developed praise-worthy properties and estates for middle to high-income earners. Bizcommunity.com #FestiveTogether: Joining in wishing you all a blessed festive season 15 Dec 2021. Today, one can think of taking loans, making payments, crowd sourcing and managing financial assets from a mobile phone. We are consultants specialized in the installation of prepaid card programs for Fintech, Challenger banks and Regtech companies. More than . ICS Financial Systems (ICSFS) has won the contract to supply its flagship ICS Banks system to BOND. It has been enlisted in the world top 250 FinTech companies alongside two other Nigerian companies. Although it saw decline in total funding raised by the FinTech companies in 2020 compared to 2019 by 62%, it saw a strong recovery in the first quarter of 2021. This deal is also noteworthy because it takes attention from Nigeria, Africa's hottest fintech ecosystem, to neighboring Ghana, where venture capital raised by its startups reached a meager $167 . It is changing how we save, borrow, and invest money by making digital financial transactions easier and simpler, without the need for a traditional bank. 2. With a projected global Fintech market value estimated at $16.65 Trillion over 2022 - 2028, the Fintech sector is an exciting area with a lot of potential for emerging economies, including Ghana. 31st December 2016 Beige Capital in Temenos T24 core banking revamp Juni Ghana Ltd is a payment service provider. PaySwitch. View Details Visit Website Country In his keynote address at the opening session, H.E. They include Qwikloan, Zeepay, G-money, Slydepay, and eTranzact. The Bank of Ghana has partnered with a fintech start-up company called EMTECH to develop this digital innovation to improve Ghana's financial services delivery. 2003 12. . Total investment has already surpassed the figure recorded for the whole of 2020 by 15%. The Association is well-positioned to serve financial technology professionals, companies and start-ups, as well as other entities. Accelerex Dr Mahamadu Bawumia, Vice President of the Republic of Ghana, noted that "to position Africa as a fintech innovation hub requires collaboration from all ecosystem players - banks, fintech, telecom companies, governments, regulators and consumers". Below are the Fintech Companies In Ghana Mazzuma Bloom Impact PaySwitch BlueSPACE Africa IT Consortium Clydestone Ghana Interbank Payment and Settlement Systems (GhiPSS) DigiTeller PaySail Damansah Logiciel Ghana Inclusive Financial Technologies PennySmart BitSika Hubtel Nvoicia Kwidex Oz ExpressPay Zeepay Ghana Limited iPay Solutions The Greens Nimble fintech players have wasted no time carving out a share of this . The country's highly skilled workforces supported by a [] A problem-solver like no other except Cube Robotics Limited uses artificial intelligence and robotics to create financial solutions for people in Ghana. The Association is well-positioned to serve financial technology professionals, companies and start-ups, as well as other entities. Services: Cybersecurity IT Strategy Consulting Cloud Consulting + See more. Finance, Fintech, Platform Based out of Nairobi, Nairobi Area, Kenya. BezoMoney Technologies Limited. Address: 4 th and 5 th Floor Fortune Towers, 27/29 Adeyemo Alakija Street, Victoria Island, Lagos, Nigeria . A Nigeria-based fintech, Touch and Pay Technologies Ltd (YC W22), has won a $50 000 cash prize in this year's edition of the Ecobank Fintech Challenge.This announcement was made at the bank's headquarters in Lom, Togo. FinTech Companies Category Country Accounting BillingEngine Cloud invoicing solution for international freelancers and SMEs. Series A. Download Apply October 6, 2022 Its strength is in serving Forex, Gaming and Money remittance companies from Europe that intend to collect payments from local payment options in Africa like MPESA, MTN mobile money and online Banking. FinTech Startups in Ghana are: Express Pay Slydepay Inclusive Finanacial Services Zeepay Kudigo Bloom Impact Sumundi ALEXPay Mazzuma Nocofio Hubtel OZ Xpendly DigiTeller BTCGhana Invest Mobile Nvoicia by Growth Factor Technologies Payplux Nsano Sika Inc Pennysmart Digisave BACE Group Appruve BitSika Demorgan Fido FlexiPay Invest XD Payswitch Niqao Sanctions for non-compliance have the potential to affect the existence and license of Fintech companies. To properly navigate through the Fintech environment, it very essential for the regulator to evaluate the adequacy of its existing organisational structure to support its regulatory activities. With a 15% growth per annum, McKinsey & Company estimated the revenue potential of Ghanaian Fintech companies to reach $18.6 billion by 2025 if penetration levels reach those of market leaders . Funding M&A Sectors Events Scoop Contact Explore The Largest Collection of Funded Fintech Companies on the Planet Fintech: Sudan Iyiebo Juba, Southern Darfur, Sudan Iyiebo is an infrastructure trading company. A Brief Introduction Of Fintech In Ghana Mobile Money And Other Mobile E-Wallets Fintech Startups in Ghana Express Pay Hubtel SlydePay BezoMoney Bit Sika InterPay iPay PennySmart Zeepay Ghana Limited Impact Of FinTech in Ghana Progress of Fintech in Ghana Last round. Kwami Ahiabenu, II (Ph.D.) Ghana's Financial Technology (FinTech) is growing by leaps and bounds. 3. Trade Republic is a mobile-only and commission-free broker that provides investment opportunities. Governance The explosion of fintech companies and startups isn't surprising. Dreamoval is a technology company created in 2007 that specialises in financial transactions in Africa and processes more than 1 million transactions per year. Trade Republic. Zeepay is Ghanian FinTech startup which focuses on digital rails intended to connect digital assets. HERE IS THE LIST OF TOP 10 FINTECH COMPANIES YOU CAN TRUST IN GHANA . In Ghana, there are over 30 unique FinTech services. Installation of Visa or Mastercard prepaid cards in Fintech companies. Currently, it is the only FinTech with a rewards system that gives back to clients when they pay for goods and services; using the platform. In furtherance of efforts to deepen financial inclusion and in accordance with the Payment Systems and Services Act, 2019 (Act 987), the Bank of Ghana has issued its first Dedicated Electronic Money Issuer Licence, to a local Financial Technology (Fintech) company, Zeepay Ghana Limited. We work with major financial institutions, government agencies and merchants to simplify transactions and streamline your collection process. Twitter | Facebook | Linkedin Learn more about their finances on Crunchbase Zoa Tech Limited. Fintech company in the business of developing technology based solutions that impact how customers interact with money. The FinTech Ecosystem Payment solution companies such as mobile money services operated by telcos, smartphone applications such as zeepay and expresspay, crowdfunding apps like GoFundMe and Kickstarter, Insuretech, distributed ledger technologies such as blockchain and cryptocurrencies are key components of the FinTech ecosystem. Ghana has become a West African hub for startups offering financing, networking, and support through a variety of organisations. It was licensed by the Bank of Ghana in June 2004. 3. The FinTech ecosystem in Ghana can be characterized as experiencing rapid transition from the "introduction to growth stage". It recorded 241 fintech deals in 2019, bringing in $2.7 billion of investment. 5) Societe Generale Ghana Limited This finance company is situated in Ghana and was known as Social Security Bank before. For example, Paystack charges 1.95percent on any transaction (including international . Home Practice Areas Legal Banking, Finance and Capital Markets Corporate and Commercial Lawyers Energy, Infrastructure and Projects Insurerity Psynthax with the use of machine learning and blockchain technologies has provided a digitized insurance system where insurance activities can easily be tracked and managed by organizations and insurance buyers alike. There is no unicorn in Ghana that is Fintech company valued at 1 billion dollars. It was founded in Uganda but has quickly expanded to now 9 countries across Africa as of 2020. The partnership would enable customers to pay globally with Mastercard's virtual payment solution linked to a Cellulant wallet named Tingg. In the introduction stage there was a major lack of collaboration and interoperability was a far . iPay Solutions Zeepay Ghana Limited ExpressPay Oz Kwidex Nvoicia Hubtel BitSika PennySmart Inclusive Financial Technologies Logiciel Ghana Damansah PaySail DigiTeller Jury is still out there when Ghana will produce a unicorn, however, there is an agreement on the fact that an internationalization strategy is key to a fintech company in Ghana attaining unicorn . The fintech sector in Ghana is evolving at an admirable rate as well. Properties Portfolio Ghana Our service is the definition of luxury. It has subsidiaries in Western Europe and Africa. Please use their links to find out more about them. The initiative is part of the Absa Young Africa Works programme in partnership with . 5. Key figures and rankings about companies and products. Our services cover areas such as. 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