The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia has pledged to establish a Fintech Fund with an initial seed capital of $100 million if he is elected President in the upcoming December elections.
At the unveiling of the party’s manifesto on August 18 in Takoradi, Dr. Bawumia highlighted that the fund aims to attract additional private sector investment to support Ghanaian start-ups focused on developing innovative payment and financial services solutions.
He also committed to working closely with the Bank of Ghana to expand the Regulatory Sandbox significantly, allowing more Ghanaian and regional FinTechs to participate.
This initiative is expected to position Ghana as a leading Multi-Regulatory/Multi-Jurisdictional Sandbox for financial and payment interoperability.
“We will establish a Fintech Fund with a seed capital of $100 million to draw in more private sector funding, supporting Ghanaian start-ups that develop payment and financial services solutions, especially those targeting region-wide, exportable solutions,” Dr. Bawumia stated.
“We will collaborate with the Bank of Ghana to substantially expand our Regulatory Sandbox to include more Ghanaian and regional FinTechs, positioning Ghana as a Multi-Regulatory/Multi-Jurisdictional Sandbox for financial and payment interoperability.”
Dr. Bawumia also assured that Ghanaian tech start-ups would benefit from a Matchmaking Programme designed to connect them with larger tech firms engaged in government tech projects.
“We will provide ‘live lab’ opportunities for Ghanaian tech start-ups through a Matchmaking Programme, linking them with mature, large tech firms working on government tech projects. This will help start-ups test their ideas in real-world environments and accelerate their product development cycle.”
Furthermore, he promised to continue leading efforts within the African Union to achieve cross-border mobile money interoperability, significantly enhancing trade across Africa and opening up a market of 1.4 billion people to Ghanaian enterprises and young entrepreneurs.
Source: Adomonline