Vice President Dr. Mahamudu Bawumia says over the past 7 years, government has focused largely on pursuing a digital transformation agenda as part of its economic strategy to improve lives.
He explains that under the Akufo-Addo-led government, huge investments were made to address and solve challenges that confronted the digitalization agenda by leveraging technological innovations.
This, he says, is to advance the development process, overcome legacy problems, and improve both the economic and public sectors.
Speaking at the maiden launch of the 3i Africa Summit in Accra on Monday, February 26, Dr. Bawumia remarked on the strong foundations the current government have laid with this digital transformation agenda.
He mentioned that the introduction of the digital address system using GPS technology, the Ghana Card introduction as a unique ID for citizens for use in financial transactions, and the mobile money interoperability system, among others are all factors in the government’s digital transformation agenda.
“Indeed, the investment and innovation undertaken by the Government and its concomitant positive impact on the lives of the citizenry as well as the efficiency in the operations of the various relevant state institutions cannot be overemphasized. This, therefore, denotes the fact that digital transformation is an inevitable necessity, an appropriate system, a flexible response to emergencies, challenges and needs, and a means used to achieve economic and social development.”
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Read his full statement below
It is a great pleasure to grace the launch of this inaugural 3i Africa Summit 2024. I thank the Bank of Ghana and Development Bank Ghana (DBG), organisers of this event, for the invitation. Indeed, this event underscores the important role the BOG and DBG are playing towards the realisation of the broader ‘National Digitalisation Agenda’. Let me also applaud the Bank of Ghana for putting up this ultra-modern office infrastructure for the Ghana Interbank Payment, and Settlement Systems (GhIPSS).
As we all know, the payment systems implemented and managed by GhIPSS include the GhIPSS Instant Payment (GIP), Mobile Money Interoperability, and the Ghana Automated Clearing House systems. These have revolutionised the payments ecosystem and positioned the country on a path of sustained financial inclusiveness. I am reliably informed that this edifice is equipped with cutting-edge technology that incorporates accessibility, safety, and functionality for both staff and customers.
Ladies and Gentlemen, we have gathered here today for the launch of the 3i Africa Summit 2024, an event which seeks to gather governments, businesses, investors, academia and thought leaders to discuss and collaborate on unlocking Africa’s full potential with a primary focus on FinTech and digital economy.
Collectively, our presence here also underscores our belief in the power of technology to enhance productivity and connectivity, to empower individuals through FinTech startups, as well as Small and Medium Scale Enterprises (SMEs) that increase innovation with the potential to promote efficiency in the operations of institutions and businesses.
It is against this background that the Government of Ghana has over the past seven (7) years or so, focused on pursuing a digital transformation agenda as part of its economic strategy at the individual and institutional levels, including all sectors. The objective is to ensure digital empowerment for a prosperous future in this accelerated digital era, where the use of modern and emerging technologies have become commonplace and a catalyst for growth, progress, and prosperity.
Ladies and Gentlemen, it is no news that the Government, under the leadership of President Nana Addo Dankwa Akufo-Addo, has paid special attention to digitalisation. This has been actively supported by various government institutions and regulators as part of the broader Ghana Digitalization agenda to advance digital transformation.
Distinguished guests, it is no coincidence that this upcoming Summit has been dubbed 3i Africa Summit – thus Innovation, Investment, and Impact. This has been the backdrop of our digitalization journey to harness the full potential of technology. As we get ready to launch this Summit, let me provide a few remarks on the strong foundations that we have laid, in terms of investment in digitalisation and its associated innovations, as well as the impact these initiatives are having on the lives of individuals, businesses and the various sectors of the economy.
Ladies and Gentlemen, the Government of Ghana has invested immensely to overcome some challenges that confronted the digitalisation agenda by leveraging technological innovations to leapfrog the development process, overcome legacy problems, and improve both the economic and public sectors.
For instance, to address the issue of no unique identification for citizens and residents, the Government issued the national biometric ID cards, popularly known as the ‘Ghana card’, to provide a unique and centralised identification system for all Ghanaians. The acceptance of the ‘Ghana Card’ as the sole identification document for financial transactions in the country would in the long run help in the reduction of Non-Performing Loans and mobile money fraud.
The Government also leveraged the GPS technology to implement a digital address system, which resulted in the unique address for all properties in Ghana. Also, the Land Use and Spatial Planning Authority provided street names and house numbers for every street in Ghana for easy identification and navigation.
Furthermore, to promote financial inclusion and reduce the dominance of cash for payments, the mobile money payments interoperability system was instituted, thanks to the Bank of Ghana and GhIPSS for championing this cause. This has led to the seamless transfer of money across different mobile networks and from mobile money wallets to banks, and vice versa.
Also, the Bank of Ghana advanced and piloted both online and offline use cases of the eCedi in 2022, and in December last year, invited applicants to participate in its first-ever eCedi Hackathon, which was designed to foster innovation, drive technological advancement, and develop solutions that will redefine the Ghanaian financial landscape.
To improve efficiency in the delivery of public services, the Government also embarked on an aggressive digitalization of the processes of service delivery across various public institutions. For instance, the processes in the passport office were digitalised to enable online applications and significantly reduce the average turnaround time.
Furthermore, the introduction of the paperless port system largely reduced bureaucracy at the port, reduced the time needed to clear goods and increased efficiencies and revenue mobilization at the ports. The operations of the Driver and Vehicle Licensing Authority (DVLA) were also digitalised to ensure that patrons no longer had to wait for several months to obtain their licenses.
Again, the National Insurance Commission implemented the Motor Insurance Database to reduce the danger of vehicles with fake motor insurance stickers plying our roads, thereby endangering lives and property. Following the digitization of motor insurance, all insurance policies, now have key security features and have been synchronized to a national database, which can be accessed simply with any mobile phone by the insured, the police, and the public, thereby, bringing sanity to the system.
Ladies and Gentlemen, we can go on and on, but permit me to highlight the fact that the Registrar’s General’s Department took weeks and months to register businesses resulting in frustration for businesses (for individuals) and loss of revenue for the Government. However, with the advent of digitisation, these systems have been automated resulting in a simple, transparent, and more efficient process and the timely registration of businesses.
Moreso, the SSNIT offices across Ghana have been networked and its application processes automated. This has brought an end to the unfortunate incidents of pensioners travelling from the remotest parts of the country to Accra to process pensions.
Indeed, the investment and innovation undertaken by the Government and its concomitant positive impact on the lives of the citizenry as well as the efficiency in the operations of the various relevant state institutions cannot be overemphasized. This, therefore, denotes the fact that digital transformation is an inevitable necessity, an appropriate system, a flexible response to emergencies, challenges and needs, and a means used to achieve economic and social development.
We must join hands and cooperate to achieve this through awareness, infrastructural development, capacity building, improvement of the legislative and conducive regulatory environment, and investment in local capabilities. I therefore urge all stakeholders to come on board to support and participate in the upcoming 3i Africa Summit to make it a memorable one, while achieving its full benefits.
Thank you for your kind attention.
Source: Aba Aikins/ATLFMNEWS
