Even though we have turned the corner we should not be complacent” – President Akufo-Addo

The government has made progress in addressing the economic difficulties that arose during the COVID-19 epidemic, according to President Nana Addo Dankwa Akufo-Addo.

But he advised against becoming complacent.

He urged chief executives and governing boards of all state agencies to embrace digitization, saying, “Even though we have turned the corner, we should not be complacent.”

The president gave a speech on Wednesday, May 22, in Kwahu-Nkwatia, at the 11th Annual Conference of Chairpersons of Governing Boards/Councils Chief Directors & Chief Executives.

The administration is realigning Ghana’s public sector to embrace digital transformation for maximum efficiency, according to President Akufo-Addo’s remarks at the ceremony.

He said that there are previously unheard-of potential provided by digital technology to boost public involvement and service delivery.

To that aim, the president has urged chief executives and governing boards of all public organizations to spearhead the digitization agenda’s operational streamlining.

“I urge all CEOs and chairs of governing boards to embrace and take the initiative to digitalize their company operations,” the president declared.

According to remarks made by President Akufo-Addo last week, Ghana’s e-government infrastructure is among the finest on the continent and has advanced significantly in the areas of fintech and financial inclusion.

The President felt that the implementation of e-government programs, such the Ghana Card, Ghana.gov site, and mobile money interoperability, had changed the way public services were delivered and increased financial inclusion to previously unthinkable heights.

“With some seventeen million of our fellow citizens now possessing a digital ID linking them seamlessly to the critical services they need to thrive in the modern world,” he said, the Ghana.gov portal has facilitated transactions worth some GH¢1.6 billion since its inception in 2019, improving revenue collection, reducing corruption, and creating a more transparent and accountable system of governance.

President Akufo-Addo added further that with transactions exceeding nine GH¢900 billion annually, Ghana boasts one of the highest mobile money penetration rates in the world, which is further proof of the ingenuity and adaptability of the people.

He added that, “mobile money adoption has increased considerably with   some 44 million accounts registered by the end of 2023, and transactions surpassing GH¢ 1 trillion” whilst the “percentage of adults with access to financial services has risen from 58% in 2017 to some 80% in 2023, representing a remarkable achievement that has transformed countless lives and opened up new horizons of opportunity.”

The President spoke at the opening ceremony of the 3i Africa summit, on Monday, 13th May, 2024, at the Accra International Conference Centre, in Accra.

Held under the theme, “unleashing Africa’s Fintech and Economic Potential”, President Akufo-Addo said it resonates deeply with the aspirations and dreams of the continent, which makes the gathering “not just a meeting of brilliant minds but a resounding clarion call to action and a summons to each and every one of us to rise to the challenge and seize the momentous opportunities that lie ahead.”

“Our fintech regulatory environment has become a hotbed of innovation and competition, attracting the best and brightest minds from across the continent and beyond. And our digital lending platforms have disbursed billions 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.”

He continued that, without resting on her laurels, Ghana is investing heavily in technology-driven education, vocational training, entrepreneurial development as well as fostering cross-border skills recognition, promoting digital literacy and ensuring that our young people have the confidence and capability to navigate the fintech landscape with ease and aplomb.

On the potential of AfCFTA being a testament to the boundless opportunities it presents, he indicated that, the agreement is projected to increase intra-African trade by some 52% and unleash a wave of economic activity that will generate some $450 billion to Ghana’s collective GDP.

Because of this, he was optimistic that Africa could establish a smooth and effective fintech ecosystem through public-private partnerships and cross-border cooperation, which would perfectly complement the AfCFTA’s goal of a fully integrated, digital African economy.

He urged summit attendees to work together to create a future where progress is brightly shining and paving the way for a better tomorrow for the continent. He called for the creation of a continent where borders are merely lines on a map, where digital innovation knows no bounds, and where every African’s aspirations can be fully realized.

Source: Ghanatodayonline.com