Eganow, a prominent fintech firm operating in Ghana, has obtained an Enhanced Payment Service Provider license from the Central Bank.

This positions Eganow to offer an array of financial services, including merchant service aggregation, processing services, printing personalized EMV cards, facilitation of international remittance services, and deployment of POS solutions, among others.

With this license in hand, Eganow can now partner with financial institutions and holders of lower-level licenses, like PSP Medium and PSP Standard licenses to carry out their permissible financial activities within the country.

Louis Amenyo Adanuty, the CEO of Eganow, emphasized the significance of this license for the business, stating, "Eganow is now well-positioned to address the needs of the expanding working adult population who have been excluded from essential financial services."

Despite increasing mobile penetration, a staggering 300 million working adults across Africa continue to lack access to fundamental financial services such as bank accounts, insurance, credit, mortgages, and investments due to traditional banks often overlooking this emerging demographic.

Adanuty confidently stated, "This situation is about to change."

He highlighted the Eganow app, set to be launched soon, as a catalyst for revolutionizing both the local and international financial services industry.

Eganow's mission revolves around leveraging technology to connect the unbanked population and the burgeoning young demographic.

The company's Eganow app is scheduled for launch later this year.

Over the past 15 years, the technology solutions offered by Eganow's parent company, Teksol, have been instrumental in shaping the financial services landscape in Ghana and several other African countries.

Currently, Teksol's products power the operations of over 100 financial institutions in Ghana and other countries, further solidifying its influence in the sector.