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A team from the Ghana Fintech and Payments Association GFPA), led by the President paid a courtesy
call on the Ghana MicroFinance Institutions Network (GHAMFIN) to among other things discuss issues of
interest and potential areas of partnerships and collaborations.
During the meeting, the President of the Ghana Fintech and Payments Association, Mr. Martin Kwame
Awagah, revealed, “the end goal of digital financial transformations is to achieve financial inclusion.
But
with all the technological disruptions ongoing, most microfinance, microcredit and savings and loans
institutions are not taking advantage of these rapid developments, hence losing out on providing the
convenience and access to finance that most businesses operating in the informal sector are in dire
need of.”
He further stated that his Association, which has close to thirty-five (35) members with the appropriate
technologies to serve both the formal and informal sectors of the economy with financial tools to push
the cashlite agenda is what has so far made Ghana one of the top five (5) investor friendly and fintech
hubs in Africa.
On his part, the Executive Director of GHAMFIN, Mr. Yaw Gyamfi stated that as a Network comprising of
seven (7) member Groups, they are very abreast with recent technological advancements the world
over, especially in the financial sector due to the impact of COVID-19 lockdowns. Having taken notice of
these, they are working with their members to deploy technologies that will positively impact their work
and enhance efficiency in the industry.”
“Collaborations will create the willpower for members with relevant products and so therefore we are
excited to work with your Association to meet you halfway in providing essential technologies for our
industry”, he said.
Mr. Solomon Koomson, representing Bankingly stated, “Technology is quickly becoming the core of
financial services globally and paving the way for smart and simple banking solutions. It has transformed
the banking industry and Bankingly is at the forefront of this change. Through our mobile and internet
banking solutions, we are enabling financial health and inclusion for all in Africa. We strongly believe
the
way to leapfrog other players that have been here long term is to align with key industry disruptors and
one of such is Bankingly.
Mr Yaw Gyamfi, also took the opportunity to brief the team from Ghana Fintech and Payments
Association on its structures as an institution and wider scope of membership. He also spoke on some
projects they have worked on over the years and how going forward, a lot more can be achieved by
partnering with the Association.