Build on country’s strong record on mobile, digital currency innovation … US Professor urges govt

Ghana has been urged to build on its strong record in mobile innovation and central bank digital currency development to become a leader in shaping Africa’s digital financial future.

According to a United States-based Consultant, and Professor of Intellectual Property and New Technologies, Professor Tonya M. Evans, the country’s leadership in mobile money and central bank digital currency had positioned the country to drive continental change in the digital economy.

She stated this at the Digital Assets Summit Africa (DASA) held in Accra on Monday under the theme, “Unlocking Africa’s Digital Economy Through Innovation And Regulation.”

Organised by the Promark Elites Limited, the event provided a trusted platform where policy, inno­vation, and investment converged to chart Africa’s position in the fast-evolving digital economy

Prof. Evans described Ghana’s digital economy transformation worth emulating and therefore urged the country to build on its success to become a global leader in the digital economy.

She described Ghana’s 40.9 million registered mobile money accounts, the Bank of Ghana’s e-money guidelines, and its ongoing e-Cedi pilot as models worthy of emulation.

However, Prof. Evans cautioned that Ghana’s digital success must be underpinned by robust consumer protection, citizen education, and policies that guaranteed financial inclusion.

“Digital assets can be the founda­tion of a truly integrated Ghanaian economy,” he said.

Prof. Evans pointed out that digital currency initiatives could be best preserved when extra atten­tion was paid to user education and encouraged user access.

The Head of Financial Technol­ogy and Innovation at the Bank of Ghana (BoG), Mr Kwame A. Oppong, stressed the urgency of harmonised regulatory frameworks in the enhancement of the digital economy landscape on the African continent.

He outlined five principles , including consumer protection, financial stability, regulatory in­novation, regional harmonisation, and international cooperation, as key principles in shaping regulatory responses in the digital economy landscape.

Mr Oppong revealed that a draft digital assets bill, developed with input from key regulators, was currently under executive and legislative review.

According to him, the bill strikes a balance between fostering inno­vation, ensuring financial stability, safeguarding of consumers, and compliance with Anti-Money Laundering and Chartered Fin­Tech Professional norms.

“Securing the future of digital assets in Africa requires politi­cal will, regulatory foresight and regional solidarity. It is a collective responsibility that we must em­brace with a sense of urgency and purpose”, Mr Oppong stated.

The convener for DASA, Mr Peter Frimpong Manso, explained that DASA was created as a trusted platform to drive policy, innova­tion, and investment across the continent.

“Africa can not afford to be a bystander as digital assets trans­form payments, savings, and trade worldwide,” he said.

Mr Frimpong added that the summit was expected to position Ghana as the launchpad for a con­tinental digital finance movement.

 BY EUGENE AMPIAW & CHRISTABEL D. ANKRAH

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