The Dean of the University of Ghana Business School, Professor Joshua Yindenaba Abor, has stated that mobile money wallets are worth 13 million dollars with transactions valued at 9 million dollars in 2016. This phenomenal growth in value of 420% between 2011 and 2016, he asserted, is good for financing private enterprise growth.
He made this known at his inaugural lecture at the Great Hall, University of Ghana, Legon today (24th November, 2016). It was under the theme “Financing private Enterprise Growth in Africa: How do we drive the real economy?
He added that there are gaps in private enterprise financing and interventions needed for private enterprise growth in Africa include those of Micro-finance institutions, Venture Capital and Private Equity, African Capital Markets (Alternative Markets), Structural Trade Finance, Project Finance for Infrastructure Development, External Capital Inflows, Development Finance Institutions and Public Sector Support.
Professor Abor is a member of the Monetary Policy Committee of the Bank of Ghana that recently reduced the policy rate from 26% to 25.5%.