BY ROSEMOND AKUORKOR ADJETEY
The Governor of the Bank of Ghana, Dr. Ernest Addison, has cautioned that the insufficient investment in Africa could impede the pace of innovation and sustainability solutions necessary for maximizing the impact of digital usage across the continent.
Dr. Addison emphasized the critical need to envision Africa’s role in the digital world.
“It is important to note that lack of requisite investments in African fintechs could slow the pace of innovation and scalability of solutions in achieving the desired impact of a digitised Africa. The general lack of investor visibility is a major challenge for most local finTechs. Without sufficient capital, brilliant ideas, and prototypes of fintech startups solutions with the potential to address the diverse financial service needs fail to progress to production,” he explained.
Speaking on the theme: “Unleashing the fintech and digital economic potential of Africa”, the Governor said the summit will capture the vision of Africa in a digital world and the essence of collective endeavours for the next three days.
Dr Addison explains, the forum, presents a unique opportunity for private and public sector stakeholders to explore, discuss, and interrogate technological advances, fintech innovations, and financial sector policies to revamp the digital financial services industry in support of Africa’s socio-economic transformation.
Emphasizing the significance of the agricultural sector, the Governor underscored the importance of focusing on the AgriTech sector, stating, “Agritech holds immense promise to drive agricultural transformation and food security across the continent.”
He highlighted the potential of technology to promote sustainable practices, empower rural communities, and boost productivity.
“Through leveraging technology, Africa’s agricultural sector can unlock its full potential, leading to enhanced food security and economic development,” he added.
