Communication Minister Calls for Financing Models in Ghana’s ICT Sector
The Minister for Communication, Digital Technology and Innovations, Samuel Nartey George, has called for greater use of new venture capital, private equity, patient capital, blended finance, guarantees and credit enhancement to support businesses across the ICT value chain.
Speaking at the Development Bank Ghana ICT Sector Financing Roundtable in Accra, on the theme “From Connectivity to Capital: Unlocking Finance for Ghana’s ICT Sector, he said access to appropriate financing remains an important area requiring attention, as traditional lending models often rely on conventional collateral.
According to him, Ghana has made progress in digital connectivity, and infrastructure alone will not deliver the full benefits of a digital economy.
“Connectivity without capital is a road half-built,” he stated.
Mr George noted that Ghanaian technology companies are creating solutions in fintech, artificial intelligence, cybersecurity, agritech, health tech, edtech, logistics and digital commerce.
He further said the government’s ongoing efforts are to build the digital economy through infrastructure, skills, innovation, regulation and investment.
He urged financial institutions, investors, technology companies, development partners and academia to move beyond discussions and work together to develop bankable ICT projects and financing instruments that can attract both domestic and international capital.
“Our ambition is not for Ghana to be a market for digital services. It is for Ghana to be a producer and exporter of them,’’ he encouraged.
Faithful Amah, ISD
