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Eganow, a prominent fintech firm operating within Ghana, has successfully obtained an Enhanced Payment Service Provider license from the country’s Central Bank.
This pivotal development empowers Eganow to offer a comprehensive range of financial services, including merchant service aggregation, processing solutions, personalized EMV card issuance, international remittance facilitation, and the deployment of cutting-edge POS solutions, among other offerings.
With the newly acquired license, Eganow is now well-equipped to form strategic partnerships with financial institutions and entities holding lower-level licenses, such as PSP Medium and PSP Standard licenses. This collaborative approach enables Eganow to carry out authorized financial activities in alignment with the regulatory framework of Ghana.
Louis Amenyo Adanuty, CEO of Eganow, highlighted the significance of this license for the company, stating, “Eganow’s attainment of the Enhanced Payment Service Provider license signifies our ability to cater to the expanding adult workforce, a demographic that often lacks access to essential financial services.”
Despite the increasing penetration of mobile technology, a substantial 300 million working adults across Africa remain excluded from fundamental financial services like banking, insurance, credit, mortgages, and investments. Adanuty expressed optimism, asserting, “This paradigm is set for transformation.”
He underscored the upcoming launch of the Eganow app, a pivotal step in revolutionizing both local and international financial services.
Eganow’s core mission revolves around harnessing technology to bridge the gap between the unbanked population and the burgeoning young demographic. The forthcoming Eganow app, slated for release later this year, is poised to serve as a catalyst for this transformation.
Drawing on the technological expertise of its parent company, Teksol, Eganow aims to reshape the financial services landscape. Over the past 15 years, Teksol’s technology solutions have played a pivotal role in shaping Ghana’s financial sector and extending its influence to several other African nations.
Currently, Teksol’s products underpin the operations of over 100 financial institutions across Ghana and beyond, further solidifying its leadership within the industry.
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