Sam George urges Ghana to build its own fintech future

Samuel Nartey George, the Minister for Communication, Digital Technology and Innovations, has called on Ghana to forge its own path in the fintech industry, rather than depending on foreign solutions. Addressing the inauguration of a fintech initiative, the Minister emphasized that the event served as a litmus test for Ghana's dedication to nurturing its own financial technology ecosystem. "This is a test of whether Ghana is committed to building the future of finance ourselves, rather than importing it," he declared.

George stressed that the government's top priority is to enable young Ghanaians to become creators of technology and innovative solutions to the challenges faced by society. "We want every young Ghanaian who sees a problem to think, 'I can build a solution,' instead of waiting for someone else to resolve it," he stated.

The Minister believed that Ghana has the necessary talent and capacity to create globally competitive fintech companies. He cited universities, innovation hubs and individual developers scattered across the nation as potential sources of innovation. However, he stressed that technological innovation must be paired with robust consumer protection and public trust, especially in the financial sphere. "Where money is involved, trust is not optional; it is the product," he warned.

To strike a balance between innovation and regulation, George called for a regulatory framework that "protects without suffocating" innovation. He argued that regulations must keep pace with technological advancements and serve the interests of people, not the other way around. "Technology must serve people. We are not building technology for technology's sake; we are building it to improve lives, expand opportunity, and create prosperity," he concluded.