Dr Ernest Addison, the Governor of Bank of Ghana, has predicted the advantage that Africa has when it comes to digitisation.
Dr Addison believes Africa and Ghana have an advantage in the digitisation race due to many of its youth being tech-savvy.
The high phone usage rate, expansion of mobile network access and the growth of homegrown FinTech solutions, according to him, placed the continent at the forefront of digitisation.
He stated that there are many opportunities that provide fertile grounds for accelerating digitisation.
“To a great degree, the lack of funding can significantly stunt the growth of the FinTech movement in several ways.
“Without sufficient capital, brilliant ideas and prototypes of FinTech startup solutions, with the potential to address the diverse financial service needs, have failed to progress to production,” Dr Ernest Addison said at the launch of the 3i Africa Summit in Accra.
The BOG Governor noted that the upcoming 3i summit, being organised in partnership with Development Bank Ghana and Elevandi, was designed as a platform for governments, businesses, investors, regulators, innovators and thought leaders to discuss and collaborate on measures to unlock Africa’s full potential by harnessing the potential of FinTech.
He indicated that the summit would feature a Lab Crawl, a platform through which diverse participants could benefit from visibility for investment opportunities to both local and international investors and capital providers.
“The speaker line-up includes 15 keynote speakers of eclectic and influential backgrounds, about 15 Central Bank Governors spanning five continents, three Heads of State, over 100 global investors, asset managers, Tech Executives and many more.
“The plenary and break-out sessions will offer participants the opportunity to discourse and learn from over 100 speakers from across the world on current developments influencing Africa’s innovation landscape, capital generation and policy development,” Dr Addison stated.
