The Ghana Financial Inclusion Conference brought together leaders from the fintech industry and regulatory bodies, recognizing the country’s progress in bolstering financial inclusion.
Eva Mends, Chief Director at the Ministry of Finance, underscored financial inclusion as a global imperative aimed at ensuring no one is left behind.
She highlighted Ghana’s achievements in developing interbank payment systems and achieving milestones such as mobile money interoperability, pivotal in advancing financial access.
“Today we celebrate surpassing our national goal with a 96 percent rate of financial inclusion exceeding our targets of 85 percent. With rapid technological progress and a diverse range of financial services and products, we must continue to enhance financial inclusion to drive our country’s economic growth and development.”
While Ghana achieved 96% financial inclusion in terms of access to services, the 2022 Composite Financial Inclusion Index, which assesses access, usage, and quality, indicates 52.76% of the population are multidimensionally included.
Deputy Finance Minister Dr. Alex Ampaabeng, representing Finance Minister Dr. Amin Adam, noted economic challenges were easing and emphasized mobile money’s role in broadening financial inclusion.
“This call also concise with the period on the global and our national economy, we all believe is bouncing back strongly from the multiple shocks the country suffered in recent years. I believe these conditions are what underpinned the expectations that we can and should as a nation accelerate the scale and quality of financial inclusion in the era of the fourth republic.”
“It is without doubt that the financial sector is the accelerator of growth for every economy. A well-functioning financial sector is a catalyst for economic growth and economic development.”