His Excellency Nana Addo Dankwa Akufo Addo, President of the Republic of Ghana has urged leaders in sub-region to invest heavily in the digital space.

President Akufo-Addo made the passionate call at the opening ceremony of the 3i Africa Summit in Accra, Ghana.

According to him, the digital space holds a greater prospects raking some huge dividends for the sub-region if the digital space is leveraged upon.
According to him,by 2035, the AFCFTA aims to lift some 13 million Africans out of the clutches of extreme poverty, whilst boosting simultaneously the incomes of some 68 million people.


The agreement is projected to increase intra-African trade by some 52%, unleashing a wave of economic activity that will generate some 450 million USD to our collective GDP.

“These are not mere statistics. They are a testament to the boundless potential that lies within our grasp, a promise of a brighter future for all Africans.
But to realise fully these benefits, we must harness the transformative power of FinTech and digital innovation. We must embrace the technologies that are reshaping the global economy and make them work for us, tailoring them to the unique needs and challenges of our diverse and dynamic continent”.

He added “Governments across Africa should invest heavily in the digital infrastructure that will form the backbone of our shared prosperity.
We must create policies that foster innovation, encourage entrepreneurship, and attract investors from both within and beyond our borders”.

The president reiterated adding that” We must promote interoperability to reduce transaction costs and delays, tearing down the silos that have hindered our progress for too long. We must leverage the power of digital identity programs, such as the Ghana Card, to improve access to financial services, reduce fraud, and create a more inclusive and equitable economic system”.

Giving a roadmap for the realization of same, the President said hrough public-private partnerships and cross-border collaboration, Africa could create a seamless and efficient FinTech ecosystem that aligns perfectly with AFCFT’s objective of fully integrated digital infrastructure.

He said Africa could unlock vast potential and create a rising tide that lifts all bounds from the smallest village to the largest metropolis but that could happen working together.

President Akufo Addo reveal that Ghana has emerged as a good example of what is possible when the digital transformation is embraced.

“Our e-government initiatives, such as the Ghana Card, the Ghana.gov portal, and mobile money interoperability have reshaped the landscape of public service delivery and expanded financial inclusion to heights that were once thought unimaginable”, he disclosed.

Stressing that today, some million of fellow citizens now possess a digital ID, linking them seamlessly to the critical services they need to thrive in the modern world.

He said the Ghana.gov portal has facilitated transactions worth 1.6 billion since its inception in 2019, improving revenue collection, reducing corruption, and creating a more transparent and accountable system of governance”.

He said when it comes to mobile money, Ghana stands tall among the nations of the world with transactions exceeding 900 billion cedis annually, the country has boasted one of the highest mobile money penetration rates in the world, which is further proof of the ingenuity and adaptability of the Ghanaian people.

This notwithstanding, the president said “our progress does not stop there”.

Ghana has made remarkable strides in the realms of fintech and financial inclusion, blazing a trail for others to follow.

According to him,mobile money adoption has increased considerably, with some 44 million accounts registered by the end of 2023 and transactions surpassing 1 trillion cedis.

He explained further that percentage of adults with access to financial services has risen from 58% in 2017 to some 80% in 2023, a remarkable achievement that has transformed countless lives and opened up new horizons of opportunity.

“Our fintech regulatory environment has become a hotbed of innovation and competition, attracting the best and brightest minds from across the continent and beyond”, the president said.

The president disclosed that digital lending platforms have dispersed billions of cedis in loans to micro, small, and medium enterprises, fueling job creation, economic growth, and the rise of a vibrant and dynamic entrepreneurial ecosystem.

The president intimated that the success of this vision rests on the shoulders.

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