A former Canadian Minister of Industry (in charge of digitalization, Science and Technology)
and President of the Treasury Board, Canada, Hon. Tony Peter Clement has adviced developing
nations to adopt Ghana's ambitious digitalization agenda.
According to him, the Government of Ghana has succeeded in using the digital revolution,
ensuring accountability and transparency in all sectors of the local economy.
Hon. Peter Clement was addressing the Democrat Union of Africa (DUA Forum 2024), held in
Accra, where he spoke on the Topic "Leveraging AI as a tool to build stronger campaign
coalitions."
He referenced the Mobile Money Interoperability and the biometric national identification
systems as some of the prudent measures that have strengthened Ghana's economic growth.
He underscored the need for developing nations to go the extra mile and bridge the rural and
urban digital divide and also enhance cyber security
Tony Peter Clement PC further pushed for effective public-private-partnership in accelerating
Ghana's digital revolution.
Mobile Money Interoperability
Vice President Alhaji Dr. Mahamudu Bawumia in May 2018 officially launched the Mobile
Money Interoperability system through the Ghana Interbank Payment and Settlement Systems
Limited ( GhlPSS ).
The system deepens financial inclusion and promotes cashless transaction in Ghana., which
serves as a viable vehicle for financial intermediation, through which businesses and individuals
can accept mobile money from other network users seamlessly.
The system is eliminating the complexities and inconveniences associated with transfers across
the various mobile money networks operated in the country.
These challenges include difficulties in opening bank accounts, high costs in maintaining a bank
account relative to customers’ income levels, and financial literacy.
The system creates convenience, and ropes mobile money users into the financial ecosystem and
further enables customers to transfer funds from one mobile money wallet to another across all
networks.
The system reduces the cost of initiating transactions across networks as customers no longer
need the services of a third-party payment provider.
Customers are able to send and receive money directly from each other irrespective of the
network they are on; allowing them more convenience and security.
Source: ABDUL KARIM NAATOGMAH
