Ghana Ranked 1st In Financial Inclusion Access | Economy

Vice President, Dr. Mahamudu Bawumia, has indicated that Ghana topped the list of countries in Africa in terms of access to financial inclusion.

Speaking at the media launch of the 3i Africa Summit 2024 in Accra, Dr. Bawumia attributed the achievement to the successful implementation of the government’s digitalisation agenda.

“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.

He emphasised that the path of the digital revolution is through financial technology and that Africa’s path would be different from many other countries.

“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.

Governor of the Bank of Ghana, Dr. Ernest Addison, disclosed that, the government is set to introduce the Fintech Innovation Fund.

According to him, this is to help promote the fintech industry.

Chief Executive Officer of the Development Bank Ghana, Kwamina Duker, emphasised the human element in the digital revolution.

He stressed the need for skilled individuals 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.”

Themed, “Unleashing Africa’s Fintech and Digital Economic Potential,” the 3i Africa Summit will be held in Accra from May 13 to 15, 2024, at the Accra International Conference Centre.