Hubtel Secures Full License to Operate as an Enhanced Payment Services Provider
April 15, 2022 | 2 minutes read
Kokomlemle –– Accra, April 2022: Ghana’s leading payments, quick commerce, and messaging technology company, Hubtel, has received a full and final license from the Bank of Ghana (BoG) to operate as a Payment Service Provider (Enhanced).
In September 2019, the Bank of Ghana, in a notice to banks and non-bank financial institutions, stated the need for institutions such as financial technology companies to “provide the legal and regulatory framework for the orderly development of payment systems in Ghana.” Hubtel applied to be licensed among the pioneering companies to fill this emerging space and was granted initial approval to operate as an enhance payment service provider by the Bank of Ghana in August 2020.
The issuance of the final license is significant as it confirms that Hubtel’s payment processing operations are compliant with the standards of the central bank of Ghana, and thus permits it to continue to provide enhanced payment services and innovative solutions to the general public.
Commenting on the occasion, the General Manager of Hubtel, Ernest Apenteng, said, “We are indeed happy to receive our final operating license from the Bank of Ghana. For us this occasion is a major comfort and milestone for the leadership at Hubtel. It also shows our commitment and belief in Ghana’s emerging digital economy. Our clients, customers, partners and indeed our regulators should trust, and rest assured, that Hubtel intends to remain compliant with all regulations that govern our operations, this already is, and will remain, a responsibility of all staff and stakeholders of Hubtel”
In addition to the Bank of Ghana, Hubtel is notably licensed by the National Communications Authority, certified by the Data Protection Authority and is registered with the Financial Intelligence Centre. The company is also certified as compliant with Payment Card Industry Data Security Standards and ISO 27001 Information Security Management Standards.
Kokomlemle, Accra –– Hubtel’s Non-Executive Director, Patience Akyianu has been named Outstanding Woman of the Decade at the just-ended 12th Ghana Entrepreneur and Corporate Executive Awards 2022.
Patience, who is the Group CEO of Hollard, is a multiple award-winning business executive and leader. Patience Akyianu, during her 26-year career as a Finance professional and Banker, has been a recipient of a series of awards and honors, which only speak to her competence and exemplary leadership. She won the African Female Business Leader of the Year Award in 2021, Marketing Woman of the Year in 2019, and Outstanding Group CEO of the Year- 2019.
CEO of Hubtel, Alex Bram in a congratulatory message, said, “For us, we are very proud to have Patience at Hubtel. She brings a wealth of experience and quality leadership that guides the progress of the company. We congratulate Patience for her exemplary and visionary leadership”
Patience is well-known for her outstanding ability to lead and execute. She previously served as Managing Director of Barclays Bank Ghana (now Absa Bank) for 5 years where she built a high-performing and more diverse leadership team. Before that, she was the Finance Director of Barclays Bank Ghana. Under her strong leadership, the performance of the bank consistently exceeded expectations, culminating in its position as the most profitable bank in Ghana.
Congratulations to her, for yet another sterling achievement. Hubtel wishes her continued success.