BTA2023 Samuel Nartey George, Minister-Designate for Communication, Digital Technology, and Innovations, has reiterated the central role of financial technology (fintech) in President John Dramani Mahama’s economic strategy. He highlighted fintech’s significance in fostering financial inclusion and driving economic growth during his vetting by the Appointments Committee on January 30, 2025.
Fintech at the Core of Ghana’s Digital Economy
Sam George emphasized that fintech will be a key pillar in the government’s agenda to modernize Ghana’s digital economy.
“Fintech is at the heart of Mahama’s government. We recognize the transformative power of digital financial services in driving economic development and ensuring financial inclusion for all,” he stated.
During his campaign for the December 2024 elections, President Mahama pledged to establish a US$50 million Fintech Fund to support fintech startups. Sam George outlined plans to expand this fund to US$300 million through collaborations with angel investors and donor organizations. This initiative aims to provide grants to startups, enabling them to develop innovative and affordable services that enhance financial accessibility.
Commitment to Fintech Growth and Inclusion
The administration’s fintech agenda is anchored on:
- Enhancing digital payment systems to reduce cash dependency
- Expanding financial accessibility for marginalized communities
- Creating policies that foster fintech innovation and investment
Sam George assured Ghanaians that under Mahama’s leadership, fintech will play a crucial role in making financial transactions seamless, efficient, and inclusive.
Balancing Innovation with Regulation
While committing to creating an enabling environment for fintech startups and digital businesses, the nominee stressed the importance of strong regulatory oversight.
“We will work closely with stakeholders to strike the right balance—encouraging innovation while maintaining financial security and regulatory integrity,” he affirmed.
To achieve this, the government plans to introduce fintech sandboxes and other regulatory mechanisms to ensure that emerging innovations thrive while maintaining financial stability.
As fintech cements itself as a cornerstone of Ghana’s digital economy, Sam George’s vision aligns with the broader government objective of leveraging technology to promote financial empowerment, economic efficiency, and national development.
