The Vice President of Ghana, Dr. Mahamudu Bawumia has disclosed that, Ghana has been ranked first in Africa in terms of access to financial inclusion during the launch of the 3i Africa Summit 2024 in Accra.
According to him, this recognition was due to the successful implementation of digitalisation policy in Ghana as well as Ghana card being the only accepted document for financial transaction.
“The acceptance of the Ghana card as the sole identification document for financial transaction in the country will in the long run help in the reduction of Non-Performing Loans and mobile money fraud. All of these developments have contributed to ensuring that Ghana is now ranked in number one in Africa in terms of access to financial inclusion”, he said.
Dr.Bawumia revealed that, the only way Africa can improve its digital revolution through financial technology, is by learning from each other through Fintech.
“The path of the digital revolution is through fintech and that is why we want to see the advancement of fintech. Africa’s path is going to be different from many other countries. While, we want to learn from other countries, we should first learn from each other”, he added.
Speaking at the event, Chief Executive Officer of the Development Bank Ghana, Kwamina Duker lamented that, African’s need skilled personnel to execute and implement technological advancements.
“With the wealth of technology, products, and ideas at our disposal, we still need people to execute them and make things happen”, he stressed.
To promote the fintech industry, the Governor of the Bank of Ghana, Dr. Ernest Addison, informed that, the government is set to introduce the Fintech Innovation Fund.
