GCB Bank PLC has started talks with TikTok about a direct payment system for Ghanaian content creators, which is a big step in empowering the country’s creative economy.
Under the leadership of Chief of Staff Mr. Abraham Ferguson, the bank met with Hon. Samuel Nartey George, Minister for Communication, Digital Technology, and Innovations, to discuss its goal of becoming a dependable payment gateway that guarantees creators receive just compensation for their work. By making it easy and safe for local creators to access their legitimate profits, the proposal aims to solve a significant issue facing the digital economy.
GCB Bank’s readiness to become payment gateway for Ghanaian content creators
GCB Bank demonstrated its infrastructure and technological readiness to support this initiative during the engagement.
The bank highlighted how it can accept and process payments straight onto cards thanks to its strong connectivity with international payment networks like Mastercard and Visa.
GCB also emphasised its capacity to enable payouts via various channels, such as direct bank accounts and MoMo, giving creators various choices for cashing out their earnings and gifts obtained on the platform.
“Our goal is to provide creators with a direct, transparent mechanism to access their rightful earnings from TikTok gifts to monetisation streams, without relying on costly intermediaries,” Ferguson noted.
Minister’s endorsement
The proposal received strong support from Hon. Samuel Nartey George, who acknowledged its potential to revolutionise the financial environment for Ghanaian talent.
He underlined that making GCB Bank an official payment channel would eliminate the need for third-party services, which frequently take large margins out of payments, guaranteeing that creators keep more of their profits.
This action aligns with the government’s goals of promoting digital inclusion and establishing long-term prospects for the creative industry.
West Africa’s TikTok rep to examine proposal’s feasibility
Ms. Tokumbo Ibrahim, TikTok’s representative for West Africa, promised to examine the proposal’s viability, and Mr. Ferguson was upbeat about the result.
“This would involve formalising a payment framework and ensuring seamless integration that guarantees swift, transparent and secure payouts to Ghanaian creators,” she added.
If the project proceeds, GCB Bank will collaborate with technical teams and pertinent financial authorities to formalise the framework and create smooth integration.
If this project is successful, it will help creators and strengthen Ghana’s position as a leader in creating a vibrant digital economy for its young people.
GCB Bank partners with Fauree Link to enhance financial inclusion and boost economic growth
In a similar development, GCB Bank PLC has entered into a strategic Memorandum of Understanding (MOU) with Fauree Link Limited, a prominent technology provider, in a revolutionary step to increase financial inclusion and boost economic growth.
Through the partnership announced on Thursday, smallholder farmers, cooperatives, agribusiness value chain participants, and micro, small, and medium-sized businesses (MSMEs) throughout Ghana will have better access to financing by utilising Fauree’s exclusive digital supply-chain finance platform.
Notable among those present at the signing included Abraham Y. Ferguson (Chief of Staff), George Fuachie (Head of Special Projects & In. Relations), Sibtien Alibhai (Board Member of Fauree Link) and Raheel Iqbal (Fauree Link).
Combination of Fauree’s cutting-edge technology with GCB Bank’s robust financial infrastructure
This partnership combines the Bank’s robust financial infrastructure with Fauree’s cutting-edge technology, which digitises trade data and facilitates real-time credit decision-making. It aims to provide quick, reasonably priced, and customised financing solutions to underserved economic sectors.
“We’re excited to partner with GCB Bank PLC to scale impact where it matters most—among Ghana’s hardworking entrepreneurs and farmers,” said Samson Deen, CEO of Fauree.
“We bring the reach and financial expertise, and together with Fauree’s technology, we are breaking barriers to finance,” said Alhassan Iddrisu Danaa, Head of Commercial Banking at the Bank.
This collaboration represents a daring step in creating a financial ecosystem that is more resilient, efficient, and inclusive, giving those at the core of Ghana’s economy the funding they require to develop and prosper.