President Nana Addo Dankwa Akufo-Addo says Africa must make conscious efforts in developing innovative and digital solutions to bolster socio-economic prosperity.

Aligning policies and regulatory frameworks to create an environment that nurtured innovation was critical to empowering the people for a more prosperous future, he stated.

The President, in an address at the ‘3i Africa Summit’ in Accra, said innovation and digitalisation remained the heartbeat of the continent and the engine of its shared prosperity.

‘So, let us equip the people with the portable, versatile skills they need to thrive in the digital age, providing them with the tools and knowledge to navigate the rapidly evolving landscape of work and opportunity,’ he stated.

Ghana is hosting the Summit to explore and promote active collaboration between diverse stakeholder groups in key areas, and continuously drive innovation momentum across the continent.

It will feature plenary speeches, chats and panel discussions from Heads of State, seni
or government representatives, investors, prominent industry leaders, policymakers, and innovators

The Summit commenced Monday with an ambitious agenda, drawing together global leaders for a critical discourse on capital investment, value creation and policymaking.

It opened with the Capital Meets Policy Dialogue (CMPD), an exclusive policy discussion among major global players focusing on innovative solutions to pressing investment issues.

The Dialogue on Technology Transfer Agreements, led by Ghana’s Investment Promotion Center, took centre stage, exploring the pivotal role of technology transfers in economic growth.

The discussion underscored the importance of strategic technology partnerships in propelling economic development.

The Summit is structured around four pivotal themes – enhancing policy frameworks, increasing capital access, expanding the ecosystem for growth, and promoting sustainability within the FinTech sector.

It is staged against the background that Africa’s FinTech market is poised
for explosive growth, projected to outpace global averages by thirteenfold, spotlighting the continent as a key player in the global FinTech arena.

President Nana Akufo-Addo said the Summit served as a catalyst for dynamic collaborations that not only addressed immediate challenges but also laid the groundwork for sustained economic growth across the continent.

It was imperative to improve access to financial services, and create a more inclusive and equitable ecosystem, he stressed.

Through public-private partnerships and cross-border collaboration, he said, the continent had the ability to create a seamless and efficient FinTech ecosystem that aligned perfectly with AfCFTA’s objective of fully integrating a digital African economy.

‘By working together, we can unlock the vast potential of our continent,’ he emphasised.

Ghana, he said, had emerged as a good example of what was possible ‘when we embrace digital transformation’.

‘Our e-government initiatives, such as the Ghana Card and Mobile Money Inter
operability, have reshaped the landscape of public service delivery and expanded financial inclusion, the heights of which were once thought unimaginable,’ he noted.

Due to those innovations, today, some 17 million of the citizenry now possess a digital ID, linking them seamlessly to the critical services they need to thrive in the modern world.

‘Our FinTech regulatory environment has become a hotbed of innovation and competition, attracting the best and brightest minds from across the continent and beyond.

‘Our digital lending platforms have disbursed millions of Cedis in loans to micro, small and medium enterprises, fueling job creation, economic growth and the rise of a vibrant and dynamic entrepreneurial ecosystem,’ the President explained.

Mr Dickon Amiss Thomas Mitchell, the Prime Minister of Grenada, said it was important developing countries invested in innovation, digitalisation and entrepreneurship to unlock their development potential.

Source: Ghana News Agency

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