Vice President, Dr. Mahamudu Bawumia has said that the government in 2018 would ensure that every Ghanaian has a bank account.
The rationale, he said, is part of measures to ensure a digitized economy in the country.
He said over 70 percent of the Ghanaian population do not have bank accounts, hence the government's decision to have every Ghanaian own one.
Dr. Bawumia was speaking at the official opening of the 2017 Innovation Week organized by the Kofi Annan-India Centre of Excellence in Accra.
The three-day event is on the theme: “Exponential technologies and innovations; an enabler in socio-economic development of Ghanaâ€
Dr. Bawumia said “financial inclusion is very key to the economy…we have to make sure that everybody practically has a bank accountâ€, adding that “this is how we are going to change the economyâ€.
He said the over 70 percent of the Ghanaians who did not have bank accounts could be helped to own one with the use of technology.
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“Everyone has to have a bank accountâ€, he said, adding that “and for that to happen, technology must be available for it to happenâ€.
Dr. Bawumia said the government’s intention to introduce the intercompactibility of the financial service sector would help bring on board to the financial sector the unbanked population.
He said government would introduce the intercompactibility policy in the financial sector in January 2018 to ensure that all Ghanaians, those with the traditional banking sector and those with mobile money networks could send and receive monies conveniently across board.
He said the government’s resolve to use Information and Communication Technology (ICT) tools to develop the country’s economy has been demonstrated with the introduction of some digital systems in the country.
Dr. Bawumia said the rapid exponential growth in technologies and innovation have great impacts on global economies, adding that the country cannot play the ostrich.
Credit: Graphiconline.com
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