By Mercy Darko
With Ghana’s fintech landscape estimated at about one hundred, the fund, when established, will speed up growth in the sector, which is dominated by payment solutions, especially mobile money transactions.
Vice President Mahamudu Bawumia, who announced the launch of the upcoming maiden 3i Africa Summit in Accra, said Ghana and Africa as a whole have immense potential to propel growth in
Fintechs.
He reiterated the government’s commitment to initiate policies that will consolidate the gains made through the digitalisation agenda.
The 3i Africa Summit, which is the maiden fintech festival, will create the opportunity for industry players to explore the 3i: innovation, Innovation, Investment and Impact. It will also enable stakeholders to explore how markets and companies can leverage technology to drive the needed transformation in Africa.
In addition, the three-day summit will help craft policies and regulatory frameworks that will support and protect long-term, sustainable investments on the continent.
Vice President Mahamudu Bawumia said the government has, over the past 7 years, focused on digital transformation to harness the full potential of the economy.
He said the digital revolution being experienced in Africa will be entrenched if fintechs are strengthened across the globe. He said the summit has come at an opportune time when many countries are embracing technology to transform their economies.
The Governor of the Bank of Ghana, Dr Ernest Addison, elaborating on the expectations of the summit, entreated stakeholders to fully participate in the summit.
Minister of Finance, Dr Mohammed Amin Adam, pledged his commitment to implementing policies that will support key sectors, especially Small and Medium-Scale Enterprises. He noted that a stakeholders forum will soon be convened to chart a way forward for SMEs finance.
This initiative, spearheaded by the Bank of Ghana and Development Bank Ghana in partnership with Elevandi, a subsidiary of the Monetary Authority of Singapore, is focused on ‘From Innovation to Impact: Investing in Africa’s Financial Sector to Drive Africa’s Transformation.