Source: Kwasi Danso
Ghanaian President Nana Addo Dankwa Akufo-Addo emphasized the imperative for African nations to prioritize the development of financial technology (fintech) and digital economies to accelerate transformation.
His remarks came during the opening of the 3i Africa Summit in Accra, Ghana, where leaders convened to discuss strategies for unleashing Africa’s fintech and digital economic potential.
President Akufo-Addo stressed the significance of digital infrastructure as the cornerstone of prosperity for African citizens. He urged countries to embrace transformative technologies, tailor them to local needs, and leverage them to address continent-wide challenges. The three-day summit, themed “Unleashing Africa’s Fintech and Digital Economic Potential,” seeks to catalyze momentum for Africa’s digital finance agenda by fostering collaboration among finance, policy, and technology sectors.
Highlighting the transformative potential of a robust fintech and digital innovation landscape, President Akufo-Addo underscored its role in maximizing the benefits of the African Continental Free Trade Area (AfCFTA). As AfCFTA aims to reshape the continent’s economic landscape, he emphasized the need for embracing digitization and fintech to drive this transformation effectively.
President Akufo-Addo advocated for public-private partnerships and cross-border cooperation to establish a seamless and efficient fintech ecosystem aligned with the vision of a fully integrated African economy. He emphasized the importance of collective action in unlocking the vast potential of African nations, ensuring inclusive growth from urban centers to rural areas through digital transformation.
Echoing President Akufo-Addo’s sentiments, Wamkele Mene, Secretary-General of the AfCFTA Secretariat, emphasized the critical role of digital inclusion in harnessing Africa’s immense market potential. Mene stressed that deploying digital technologies is essential for achieving the objectives of the AfCFTA. He urged stakeholders to leverage digital tools discussed during the summit to drive progress and overcome challenges on the continent.
President Akufo-Addo’s call for prioritizing fintech and digital economies underscores the urgency of embracing digital transformation in Africa. Through collaborative efforts and innovative solutions, African nations can unlock their full economic potential, foster inclusive growth, and propel the continent towards a prosperous future.
