Gov’t drops details of 3-year plan to create business opportunities and reduce poverty
- The government has rolled out a strategy to ensure that financial inclusion in Ghana grows from 58% to 85% in 3 years
- The National Financial Inclusion and Development Strategy would ensure that opportunities are created and poverty is eliminated in Ghana
- The government has, therefore, outdoored the Cash-Lite Road-map to take steps to help build an inclusive digital payments ecosystem
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The Ministry of Finance has announced plans of expanding financial inclusion in Ghana from 58% to 85% by 2023.
This forms part of a National Financial Inclusion and Development Strategy designed to help create economic opportunities and reduce poverty in Ghana.
YEN.com.gh understands that the strategy forms part of three initiatives introduced by government to speed up financial inclusion and digital payments to transform the economy.
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The outbreak of COVID-19 has affected the use of cash and digital payment systems are being promoted as alternatives to help reduce face to face interaction and the possible spread of the pandemic.
Per a report by citibusinessnews.com, the government has also launched the Cash-Lite Road-map to take steps to help build an inclusive digital payments ecosystem.
The roadmap was was designed in collaboration with the United Nations-based Better Than Cash Alliance.
It would help provide solutions for better access to financial services, enable regulation and oversight and promote consumer protection.
In other news, the Trades Union Congress (TUC) of Ghana has called on the government to inject GHC18 billion into various sectors of the economy between now and December 2020.
The move, the TUC said, would help reduce the burden of unemployment resulting from the impact of COVID-19.
According to the TUC, a recent survey has revealed that the outbreak of the coronavirus has led to devastating effects on jobs and livelihoods in both formal and informal sectors.
READ ALSO: Ghana's growth rate would probably fall from 6% to 1.5% - Minister
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Source: YEN.com.gh
