(Ecofin Agency) – During Nana Akufo-Addo’s eight years at the helm of Ghana, particular attention was paid to the country’s digital transformation. The investments made today allow the West African nation to be among the destinations of choice for digital investors.
The new President of the Republic of Ghana, John Dramani Mahama (photo), was officially sworn in on Tuesday January 7. Before parliament, he expressed his desire to “reset” the country. Digital technology is an important component of this ambition for economic growth. The new government plans to invest in around fifty projects spread across several areas, including regulation, digital infrastructure, services, support for innovation, skills development, creation of specialized employment, cybersecurity.
“My administration, with the help of my Vice President, Nana Jane Opoku-Agyemang, will prioritize inclusion, accountability and innovation, opening pathways that will lead to the improvement of the lot of all our citizens […] Our policies will be designed to support innovation and foster industries that engage today’s young minds and give them the skills to meet tomorrow’s challenges. Together with the private sector and business leaders, we will create decent, well-paid jobs,” argued the president.
In his political project, John Dramani Mahama committed, among other things, to promoting the provision of license-exempt frequencies to telecom operators to improve network coverage of communities which would otherwise not benefit from access to broadband services. There is the construction of the national 5G network from which several economic opportunities are expected for both the service and industrial sectors.
Even launched
By capitalizing on the investments made by his predecessor, the president also plans to strengthen e-administration which contributes to the efficiency of state services. It plans to introduce ‘GHForms’, a digital solution that automates all government forms and streamlines public services, improves efficiency, reduces paperwork, improves citizen experience and reduces government expenditure. He announced the construction of technology parks to attract foreign investors.
The creation of a $50 million FinTech Growth Fund to promote the growth of digital entrepreneurs and support local FinTech businesses is also a project in which the President attaches great interest. It also plans to transform the Ghana Electronic Communications Investment Fund into the Digital Economy and Innovation Development Fund. Added to this is the launch of the “Digital Employment Initiative” in partnership with start-ups and local technology companies in order to create 300,000 jobs for young people, the digitalization of education, the development of digital skills of the population.
Thanks to investments made by the previous government, Ghana is now considered a destination of choice for tech investors. The country ranks 15th out of 47 African countries in terms of ICT use in the ICT Development Index 2024. It ranks 7th among Sub-Saharan African countries in the Global Innovation Index 2023. It is among the African countries with a high e-government index in 2024. Broadband coverage (3G and 4G) is almost universal and the penetration rate of mobile telephony is more than 135%.
A stimulating digital
-During the first three quarters of 2024, the Ministry of Finance of Ghana revealed, in December 2024, that the country “Recorded an impressive average real GDP growth rate of 6.3%, a significant increase from the 2.6% recorded during the same period in 2023. This growth was fueled by quarterly expansions of 4 .8% in the first quarter, 7.0% in the second quarter and a remarkable 7.2% in the third quarter, the strongest quarterly GDP growth in the last five years.” The services sector grew by 5.0%, driven by the Information & Communication branch which posted growth of 15.9%.
As of October 2024, the United Nations estimated that Ghana’s digital services sector already contributed more than 9% of gross domestic product (GDP). The organization added that information and communication technologies (ICT) play a key role, contributing to 18% of total employment and are expected to be responsible for 40% of future economic growth.
The United Nations also estimates that economic growth driven by digital technology should exceed that of traditional growth sectors in Ghana. The new president’s digital projects could contribute to this.
Muriel EDJO
Published by Sèna DB de Sodji
Also read:
17/12/2024 – Ghana: John Mahama’s plan to revive the economy in 120 days
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