The Bank of Ghana (BoG) has reveled plans to reinforce its functions to promote financial inclusion in the country.
According the bank’s first Deputy Governor Millison Narh the bank will ‘broaden its role as regulators in the promotion of financial inclusion as it aims to reinforce the bank’s functions in ensuring monetary stability and financial systems soundness’.
Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low-income segments of society.
According to the World Bank less than 29 percent of Ghana’s population has access to any type of formal financial institution, defined as a bank, microfinance institution or cooperative.
First Deputy Governor of the Bank of Ghana Millison Narh says the bank will roll out new measures to increase access to financial services in the country.
By: Vivian Kai Mensah/citifmonline.com/Ghana