Ghana applauded for creating enabling environment in the tech sector

Science Conference Tech
Science Conference Tech

The 10th edition of Tech in Ghana Conference has been held in Accra and Ghana has been lauded for creating an enabling environment in the tech space given the growing number of companies in the sector.

Madam Harriet Thompson, the British High Commissioner to Ghana, who made the commendation at a two-day conference, described Ghana’s digitalisation drive as clear and ambitious.

She said the Ghana Government’s investment in tech across all the Ghanaian main sectors of the country could only build the economy for the future but in doing so could create jobs, enhance security, improve lives and would put her on the map alongside nations right around the world in leading a global digital economy.

“I can see from all of you here today that your participation in this event shows that Ghana is cultivating a growing pool of a strong tech leaders, who would put impressive value and worth to the sector.

“You the people are the greatest assets that the nations have and an initiative like Tech in Ghana focuses on people like you,” she stated.

Madam Thompson noted that tech businesses were the ones pushing boundaries and reaching virgin markets across the African continent and leveraging key economic opportunities including those being represented by the Africa Continental Free Trade Area (AfCFTA) specifically in the technology sector.

The AfCFTA is a created framework for technology led companies across the continent in a way that would impact digital infrastructure, logistics, energy among others while promising broader and deeper economic integration that would attract investment, boost trade, provide better jobs, reduce poverty and increase shared prosperity across Africa.

She said the UK Government was committed to the long-standing relationships with Ghana, adding; “This event is an example of what to me is the most special aspect of our relationship to create connections among our people.
“It is through this that we learn; we network; we do business. This relationship is fundamental to our success. We hope to support Ghana to whip up tech innovations maybe in West Africa or across the continent because tech is social priority of the Government of Ghana, and is also a priority to the work that the British Government does in Ghana,” she stated.

Madam Thompson highlighted some of the work the British Government was doing in Ghana as to the engagement with the Ghana Revenue Authority to help them develop a digital agenda to create stable and secured financial systems.
“Businesses across the country are now able to balance their tax obligations with day-to-day running of their businesses because they can pay their taxes more easily, more efficiently and more securely.”

She said they would also engage the law enforcement officers to training on how to use open social intelligence to detect, investigate, and prosecute cybercrimes and that these crucial skills make the tech environment safer for everybody.

Madam Nancy Imadi, Head, Licensing and Authorization for Fintech and Innovation at the Bank of Ghana, in an interview said the Ghanaian fintech ecosystem was one touted around the continent as being very resilient.

“Ghana has done very well as our ecosystem started with the opening of Fintech and Innovation office by the Bank of Ghana that shows the seriousness that the bank attaches to the space. So, we are excited about the various activities that are ongoing.

“We see a lot of our entities complying with the regulations. A lot of them are trying to bring out innovative solutions to millions of our people and of cost with the collective objective of our financial inclusion to ensure that the millions of people that we have as a country are able to be drawn into the bracket to be financially included and to be able to access financial services in the space,” she stated.

On enforcement of regulations, Madam Imadi said the Bank of Ghana as a statutory institution mandated to manage the fintech ecosystem would make sure that there was enough regulatory framework to ensure and grantee a sound digital payment ecosystem while protecting the consumer.

“We also ensure that the entities within the space also become compliance and viable so that some day can also export their solutions to other West African countries or even the sub-region as a whole and so note that whilst we regulate, we are also trying to ensure viability of the companies,” she said.

Madam Akosua Annobil, the Founder of Tech in Ghana, in her welcoming address, said since the launch of Tech in Ghana it has attracted a few multinational brands in the world.

She said the Tech in Ghana Conference is a platform where fintech organisations and individuals come and tell their stories, share experiences and knowledge to help expand the tech space in Africa and beyond.

Madam Annobil expressed gratitude to organisations and individuals who had supported the programme over the years.

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