The gradual implementation of digital services across Ghana’s capital markets and the part that tech-led solutions are poised to play in increasing financial inclusivity are among the topical issues set to be explored in a 10th-anniversary report by the global research and consultancy firm Oxford Business Group (OBG).
The Report: Ghana 2022 will examine the country’s evolving digital financial services ecosystem, charting the innovations gaining traction following the introduction of key legislation, including the Payments and Services Act and the Electronic Transaction Act.
It will also consider the role that Ghana’s high mobile penetration rate, which currently stands at around 65%, will play in supporting sectoral expansion.
OBG’s coverage of these and other industry trends will be mapped out against the backdrop of Ghana’s broader finance sector, which is seen as having stabilised following far-reaching reforms, including the closure of insolvent banks, as the country eyes economic recovery.
OBG has signed a fourth memorandum of understanding (MoU) with Stanbic Investment Management Services (SIMS), an investment management and advisory services provider licensed by the Securities and Exchange Commission of Ghana, for its 2022 report. As part of the MoU, SIMS will team up with the Group to research and produce the Capital Markets chapter of The Report: Ghana 2022.
Kwabena Boamah, Managing Director, SIMS, said he was delighted to be working with OBG on its forthcoming report, which comes with digitization already beginning to disrupt the way of doing business and investing in Ghana.
“Many investment firms were forced to pivot quickly when the pandemic arrived, with some having made more progress than others in automation and rolling out online services,” he said. “We look forward to tracking these and the many other digital developments that are expected to take Ghana’s financial services industry to the next level and redefine its investment landscape.”
Wen Qian Chang, OBG’s Country Director in Ghana, agreed that the changes evident across Ghana’s financial services industry would be of significant interest to investors, adding that the topical issue of sustainable financing was another trend set to be explored in the report.
“The pledges made at COP26 and reactions on the ground to the climate change conference served as a reminder that stakeholders now expect to see employment, social and governance principles given a priority in businesses’ strategies,” Chang said. “Rising interest in ethical investment worldwide makes the agreement signed in May 2021 by Ghana’s Securities and Exchange Commission with the International Finance Corporation for the development of a green bonds market in the country particularly timely. I look forward to exploring this and other sectoral developments with market leaders and sharing our findings with our license holders in this landmark anniversary report.”
The Report: Ghana 2022 will be produced with SIMS, the Ghana Investment Promotion Centre, the Association of Ghanaian Industries, PwC and B&P Associates. It will be available online and in print. The yearly report will mark the culmination of field research by a team of analysts from OBG. The Report will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. OBG’s publication will also contain contributions from leading representatives across the public and private sectors.
Besides, OBG is currently producing tailored reports with its partners, alongside other highly relevant, go-to research tools, including a range of country-specific Growth and Recovery Outlook articles and interviews.