The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:
1.The rise of real-time payments
Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. We are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this.
2. Cashless payments will …
[7:28 PM, 12/6/2024] Melvin: “Be ready to face the consequences if you adopt Family Values Bill in Ghana” – Prof. Kobby Mensah
Prof. Kobby Mensah, a senior lecturer at the University of Ghana Business School has cautioned Ghanaian policymakers and citizens about the far-reaching consequences of adopting the controversial Family Values Bill.
Speaking during a recent interview on TV3 in Accra, Prof. Mensah raised concerns about the economic, health, and cultural implications of the bill, which has sparked intense debate nationwide.
While discussing the potential outcomes, Prof. Mensah drew attention to the experiences of countries that have grappled with issues related to LGBTQ+ policies, emphasizing the unforeseen costs and challenges such legislation can bring.
Turning to the societal impact, Prof. Mensah pointed out Africa’s historically low tolerance for cultural shifts. He warned that implementing such a bill could lead to significant unrest and abuses in workplaces and communities:
“It’s also about cultural changes, how would people respond ? In our country and in Africa as a whole, we are not so tolerant. So, when things change, people will have extreme abuses. If people go to work and they are being abused, how are the courts going to deal with this?”
He urged lawmakers to consider the legal and judicial implications of the societal changes that could stem from the bill.
Prof. Mensah emphasized the need for Ghana to critically evaluate all aspects of the proposed legislation, suggesting a 360-degree approach to understanding its potential consequences.
His remarks serve as a sobering reminder for Ghanaians to fully understand the broader implications of the Family Values Bill before it is enacted.
The Family Values Bill has been a polarising topic in Ghana, with supporters arguing that it will preserve traditional cultural values, while critics warn about its potential to introduce significant challenges in health, social cohesion, and resource allocation.
There are billboards scattered around asking Ghanaians to #ReadTheBill before it is signed into law because it is important to know what we are signing up for.
The Supreme Court of Ghana has set December 18, 2024, to deliver judgment on the two separate suits challenging the passage of the Human Sexual Rights and Family Values Bill popularly known as the anti-gay Bill by Parliament.
By Luke Kyohere, Group Chief Product and Innovation Officer at Onafriq