Governor of the Bank Of Ghana, Dr. Ernest Addison, has called for the enhancement of digital infrastructure to boost intra-African trade.
According to him, digital transformation is crucial in achieving the dream of a borderless trade amongst African countries and improve financial inclusion.
Speaking at the 30th Afreximbank Annual Meetings’ stakeholder side event which was held on the theme "Unlocking Africa’s Trade, Investment and Commerce Opportunities, Leveraging Digital Platforms And Ecosystems", Mr. Addison furthered that, creating unique digital payment platforms will facilitate smooth transactions amongst businesses which exists in member countries.
“Access to reliable and affordable internet connectivity is the foundation upon which digital platforms thrive. Governments and private sector stakeholders must collaborate to invest in broadband infrastructure, expand network coverage, and bridge the digital divide within and across countries.”
He further called for the promotion of digital skills development which will enable the creation of tech entrepreneurs and further which will in effect support SMEs digitize their operations.
This, he believes will help improve the efficiency of Small and Medium size businesses and enable them seize trade and investment opportunities while competing with global giants.
“By establishing incubation centres, providing mentorship programmes, and offering access to funding, we can empower start-ups and SMEs to develop innovative solutions that address the unique challenges and needs of our continent“.
“By investing in training and upskilling digital programmes, we can create a highly empowered workforce to drive innovation, productivity, and competitiveness”, he added.
Citing the Central Bank’s proposed partnership with the Monetary Authority of Singapore, Dr. Addison called for collaborations which offer knowledge sharing and technical support to businesses.
“Ghana is also currently working with the Monetary Authority of Singapore on a 'Business san Borders' project aimed at boosting the international trade prospects of SMEs of the respective countries through the implementation of digital trade platforms for market discovery.”
The 30th Afreximbank Annual Meetings brought together business and political leaders, banking industry professionals, trade and trade finance practitioners involved in economic development from across Africa and beyond.
Latest Stories
-
E Vibes: ‘The Greatest Band’ features on debut of Musical Band Series
55 seconds -
KNUST signs MoU with Estonian Academy of Arts for mutual growth in education and research
17 minutes -
Your policies have laid groundwork for Ghana’s future – IMF to Akufo-Addo
20 minutes -
Mahama submits list of 10 Regional Minister-nominees to Parliament
43 minutes -
Rescuers try to free men trapped in South African gold mine with scores reported dead
49 minutes -
Kim Bjorkegren named new Black Queens Head Coach
51 minutes -
Stakeholders deliberate on mental health’s intersection with faith at Beyond The Ward virtual seminar
1 hour -
I’ll appoint Ministers to prioritise Bawku peace efforts – Mahama assures
1 hour -
The erosion of justice: A call for justice for Stella Ayawovi Fiagbedzi’s land
1 hour -
We don’t really need record labels as a continent – Rocky Dawuni
2 hours -
Photos: Vetting of Attorney General-designate Dominic Ayine
2 hours -
Cirium names Delta most on-time North American airline, Platinum Award winner
2 hours -
Mahama proposes another talk around Anti-LGBTQ bill
2 hours -
ORAL: We’re not the bad guys, we’re protecting state assets – Ablakwa
3 hours -
Cultivating the Future: How biotechnology powers North Carolina’s farms
3 hours