Tag Archives: BoG increases minimum capital for Mobile Money firms by 300%

The Bank of Ghana (BoG) has increased the minimum capital for Mobile Money companies from GH¢5 million to GH¢20 million. This means an increase of about 300%. According to a statement from the BoG, “The emergence of new payment streams, institutions such as financial technology companies and the general acceptance of electronic money have necessitated the enactment of the Payment ...

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