Mahama calls for fintech growth, digital expansion, and governance reforms
Date: 2025-02-03
President John Dramani Mahama called on African nations to prioritize fintech, e-commerce, and digital transformation as key drivers of economic growth. Speaking to a diverse audience of policymakers, business leaders, and technology experts at the just-ended Africa Prosperity Dialogues 2025 in Accra, President Mahama underscored the immense potential of the Fourth Industrial Revolution (4IR) in reshaping Africa’s economic landscape.
According to him Africa must
move beyond traditional development models and embrace digital technologies to
foster economic participation and trade. He stressed that the rapid growth of
fintech and e-commerce presents unparalleled opportunities for financial
inclusion, allowing small businesses and entrepreneurs to access new markets
and expand their economic footprint.
To achieve this, president
Mahama urged African governments to invest in research and development
(R&D), expand internet access, and build resilient digital infrastructure
that can support innovation and drive financial inclusion. He noted that
bridging the digital divide is critical for ensuring that all citizens,
especially youth and small businesses, can participate meaningfully in the
digital economy.
Beyond technological
advancements, the president highlighted the importance of strong governance,
transparency, and accountability in driving sustainable prosperity. He
cautioned that while digital expansion is crucial, Africa’s economic challenges
cannot be solved through technology alone. He stressed that governments must create
enabling policies, reduce bureaucratic hurdles, and ensure political stability
to attract investment and foster economic growth.
The president expressed
concern over the growing frustration among Africa’s youth due to slow economic
growth and high unemployment rates, and urged policymakers to prioritize job
creation, economic expansion, and increased investment in key sectors,
warning that failure to address these pressing issues could lead to social
unrest and economic stagnation.
By: Nana Appiah Acquaye
