Bawumia Flaunts Govt. Inroads Made In Digitization
Vice President, Dr. Muhammudu Bwumia has flaunted digitization of the of the various sectors of the Ghanaian economy as the most significant approaches of the ruling NPP’s government.
He told the gathering attending the t Fifth Ghana International Trade and Finance Conference (GITFiC) in Accra that digitization has become ][possibly, the most significant approach of President Akufo-Addo’s administration and is vital towards expanding financial exercises, macro-economic security, and development.
According to him, at the point when the scourge of the COVID-19 pandemic hit and constrained numerous economies into incomplete and all-out lockdowns, “the government supported the need to seek after digitization.”
Hammering particularly on the impact of digitization cash exchanges, Dr Bawumia said potable banking is ending up being a more helpful option in contrast to conventional financial channels where transactions can be made through cell phones and electronic installment frameworks.
He continued, “The execution of Mobile Money Interoperability in Ghana has shown that, “more individuals can be monetarily included, and this should be carried out across Africa to guarantee the development of the AfCFTA vision.”
The Vice President continued that through the use of digital innovations and digitized information, “The central Bank has carried a few frameworks through its Ghana Interbank Payment and Settlement Systems (GHIPPS).
Dr. Bawumia emphazised that it is time African governments embraced digital currency (bitcoin) to work with exchange and upgrade other useful areas of their economies.
He praised the Bank of Ghana’s choice to steer digital currency not long from now towards its cross country carry out sooner rather than later, saying that “ it would give it the required believability and legitimate sponsorship for use.”
“They incorporate the e-zwich, Gh-Link, Mobile Money Interoperability, and QR Code, and ensuring that the basic installment framework moves along as planned is the least we ought to expect of the monetary framework in case we are to understand the vision of mainland streamlined commerce,” he said.
The conference brought together Governors of the Central Banks in Africa, captains of industry, CEOs of monetary establishments .
The purpose was to exchange ideas on how to advance the economies of Africa through financial exercises in the spirit of AfCFTA.
It was under the theme, “Working with Trade and Trade-Finance in AfCFTA; The Role of the Financial Services Sector.”
