President Nana Addo Dankwa Akufo-Addo has emphasized the importance of leveraging digital identity programs like the Ghana Card to enhance access to financial services and reduce fraud.
He made these remarks during the opening ceremony of the 3i Summit in Accra on Monday, May 13.
President Akufo-Addo highlighted the success of the digital transformative initiatives introduced by his government, citing the Ghana Card and the Ghana.Gov portal as examples that are reshaping public service delivery in the country. He emphasized the role of digital technology in driving Ghana’s economic transformation and urged the promotion of interoperability to reduce transaction costs and facilitate financial inclusion.
Finance Minister Dr. Mohammed Amin Adam also spoke at the event, underscoring the importance of a strong financial services sector operating in a stable macroeconomic environment for the success of financial innovations. He commended the government for creating an enabling macroeconomic environment to support economic growth, citing positive indicators such as economic growth exceeding targets, declining inflation rates, and lower currency depreciation compared to previous years.
Dr. Adam further mentioned the government’s implementation of fiscal measures, including the acceleration of disbursements amounting to nearly $1 billion by development partners to support the economy. He also acknowledged Ghana’s progress in nurturing a vibrant fintech ecosystem, with a diverse array of startups, accelerators, and regulatory initiatives positioning the country as a frontrunner in fintech innovation on the continent.
The Finance Minister applauded the Bank of Ghana for establishing a regulatory framework conducive to fintech innovation, which includes initiatives like the Payment Systems and Services Act and the Fintech and Innovation Office.
He also recognized the support provided by incubators such as the Ghana Tech Lab and MEST Africa to fintech entrepreneurs through mentorship, financial backing, and networking opportunities.
