The Second Deputy Governor of the Bank of Ghana (BoG), Mrs. Matilda Asante-Asiedu, has emphasized the swift growth of Ghana’s fintech sector, characterizing it as a crucial factor in promoting financial inclusion and facilitating digital transformation.
She referenced forecasts suggesting that the global fintech market is expected to reach $400 billion by the year 2028.
During her address at the MoMo Fintech Stakeholders Forum on Wednesday, October 15, Mrs. Asante-Asiedu remarked that advancements in mobile money and digital lending are continually altering the manner in which Ghanaians conduct transactions and access financial services.
“The global Fintech market is projected to reach $400 billion by 2028. With digital lending alone surpassing $1.3 trillion,” she stated.
She underscored that the fintech revolution is not only transforming economies but is also influencing financial culture.
“This transformation is not just numerical but also cultural,” she remarked, urging ongoing collaboration among regulators, innovators, and service providers to ensure the sustained growth of the sector.
Mrs. Asante-Asiedu pointed out the significant impact of financial technology in reshaping both local and global economies.
Mrs. Matilda Asante-Asiedu noted that mobile money transactions in Ghana continue to demonstrate robust growth, indicative of the country’s swift transition towards a digital financial ecosystem.
“In Ghana, Mobile Money transactions continue to grow,” she added.
