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Ghana Country Report

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  • Published Date: February 2016

A comprehensive overview of the cards, payments and consumer banking market in Ghana.


  • The consumer finance market is in its infancy for the vast majority of the population: 54 per cent of Ghanaians remain unbanked.
  • Ghana's housing market is dominated by informal funding: some 80-90 per cent of housing developments in Ghana are self-financed.
  • Ghana is predominantly a cash-based society with a payment cards market in its infancy.
  • Debit cards are the preferred card payment method and are used predominantly for cash withdrawals at ATMs.
  • E-money and mobile money are growing in popularity and are more easily accessible than traditional payment cards.
  • The e-zwich card is a national biometric prepaid smart card that operates by fingerprint recognition at ATMs and POS terminals around the country.
  • To encourage electronic payments, public sector workers have been paid through the e-zwich card since October 2014.
  • In July 2015, the Bank of Ghana issued a set of new mobile money guidelines that allow telecom companies to offer Mobile Money services.
  • There were an estimated 12.2 million mobile money customers and 52,000 agents at the end of 2015.
  • In August 2015, Ghana Interbank Payment and Settlement Systems (GhIPSS) launched an internet payment gateway for domestic ATM cards and an instant payments service.

Ghana Payments Research | Report Contents

Key points
The economy
Retail banking
Consumer finance market
Cards market
Profit pool
Pricing and enhancements
The networks (Credit cards and debit cards)
Key retail banks and issuers
Merchant acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendix I: Demographics

  • Population metrics
  • Ownership of key consumer goods
  • Internet usage by population

Appendix II: The Ghana economy

  • Major economic indicators

Appendix III: Retail banking

  • Major retail banking indicators
  • Banking/infrastructure penetration
  • Retail banks key metrics
  • Retail banks profit & loss metrics

Appendix IV: Consumer finance market

  • Consumer credit outstandings and indebtedness
  • Consumer credit outstandings by product

Appendix V: Ghana Cards market

  • Credit card numbers
  • Total credit card metrics
  • Consumer credit cards metrics
  • Commercial credit cards metrics
  • Credit cards profitability Indicators
  • Debit card numbers
  • Debit cards metrics

Appendix VI: E-money

  • Prepaid/e-money cards metrics
  • Mobile money metrics

Appendix VII: Profit pool

  • Profit pool

Appendix VIII: Pricing and enhancements

  • Card pricing and enhancements

Appendix IX: The card networks

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Credit card interchange fees by network
  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value

Appendix X: Key retail banks and issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card Issuers market shares by debit card numbers

Appendix XI: Merchant acquiring and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Africa. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and Africa finance experts.

See more Africa Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

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