Ghana to become top destination for fintech investments – BoG

Kwame Oppong, the Head of FinTech and Innovation at the Bank of Ghana (BoG), says the 3i Summit would position Ghana as a preferred destination for fintech investments in Africa.

He said the attention, participation, and attendance of the global stalwarts in the fintech ecosystem at the 3i Summit which is scheduled to take place in Ghana, would attract the needed investment to the country.

He made the remarks during the Ghana Fintech and Payments Association Awards event which was held in Accra.

The Fintech Awards programme is an event that awards promising and successful fintech and payments companies which have succeeded in their various niches and roles in the previous year.

It is also an event that brings various stakeholders within the fintech ecosystem together to deliberate on how to improve the industry in the subsequent year.

Over the past few years, fintech companies both inside and outside of Ghana have enjoyed a rapid rise in popularity, as Ghana becomes more attractive, thought to be home to more than 70 fintech businesses.

Mr. Oppong said the 3i summit would provide a platform for policy discourse, entrepreneurial investments, and networking for stakeholders in the industry.

Mr. Oppong urged industry players to come on board to facilitate and support the organisation and completion of the summit.

“I therefore extend an invitation to all banks and fintech companies to fully participate in diverse ways to organise this summit. Together, we can make the summit a success for all of us in the industry. The summit is for all of us to participate, so let us come on board and work together,” he said.

He underscored the roles fintech companies had played in driving Ghana’s financial inclusiveness, as the country’s financial inclusion index improved from 58 per cent in 2017 to 68 per cent in 2021.

3i Africa Summit is a fintech festival to drive innovation, investment, and impact for Africa’s fintech and financial services sectors.

The initiative was jointly developed by the Bank of Ghana, the Monetary Authority of Singapore, Development Bank Ghana, and Elevandi.

The 3i Summit is scheduled to take place in Ghana from May 13 to May 15, 2024, at the Accra International Conference Centre.

Nana Hemaa Ama Anim, Vice President for Women in Fintech, said the awards had been a catalyst for inspiration, fostering creativity, partnerships, and celebrating progress, not just in the fintech industry but in the entire financial sector.

She said the association had introduced initiatives to improve gender inclusiveness for women to also participate in the industry.

She said the, “Women in FinTech” programme aimed at closing the gender disparity, empowering women, and supporting the creation of fintech companies led by women.

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