Ghana Economy intimidating Nigeria Economy

Ghana is performing better than Nigeria when it comes to using Point of Sale (PoS) channel for payments during transactions, a report has revealed.

According to Indexmundi, Ghana ranks second in Africa regarding PoS adoption as reflected by the proportion of transactions made via PoS machines while Nigeria ranks seventh. Paxnigerian.com, which quoted the report, noted that while 80 per cent of all transactions in Ghana are via PoS, only 21 per cent of total transactions in Nigeria are via PoS.

“South Africa is leading in Africa with 91 per cent followed by Ghana 80 per cent while Tunisia is third with 79 per cent. Other countries ahead of Nigeria are Egypt, Morocco and Kenya in that order,” it added

According to Central Bank of Nigeria (CBN), the PoS density per 100,000 people in Nigeria is 13, while India’s is 67; Uganda, 453; Namibia, 338. The target for Nigeria, according to the bank, is to meet Brazil’s PoS deployment rate of 2,247 per 100,000 people by 2020.