Technology

GDPC

GDPC is Ghana's national Deposit Guarantee System (DGS), a financial technology platform ensuring prompt payout of insured deposits to protect small savers from bank failure.

GDPC (Ghana Deposit Protection Corporation) operates the mandated Deposit Guarantee System, a critical financial technology established by the Ghana Deposit Protection Act, 2016 (Act 931). Operational since September 2019, the system secures public confidence by protecting small depositors against losses from bank or Specialized Deposit-Taking Institution (SDI) failure. The scheme uses a two-fund structure (Fund A for banks, Fund B for SDIs) and currently provides maximum coverage of GHC6,250.00 per bank depositor. Strategic reforms are underway to digitize the payout process, targeting reimbursement times of less than 7 days, aligning the platform with international best practices like the IADI Core Principles.