The Chief Executive Officer of Dalex Finance, Joe Jackson, has said that the FinTech community is hopeful that President John Mahama will fulfil his promise to establish a FinTech fund in the upcoming 2025 Budget and Economic Policy Statement.
The 2025 Budget and Economic Policy Statement is expected to be delivered to the Parliament of Ghana on March 11, 2025. Key among the sectors that Ghanaians expect reforms in are agriculture, manufacturing, and digital services.
Speaking at the 4th edition of the Ghana FinTech Awards held on March 1, 2025, in Accra, Joe Jackson argued that the success of the government’s proposed 24-hour economy hinges significantly on the FinTech sector, which facilitates virtual transactions crucial for economic activity.
“FinTech is literally the enabler for the 24-hour economy that President Mahama and the ruling NDC have been talking about”, he stated, emphasizing the importance of this fund for supporting local FinTech companies.
“We are all watching to see whether there will be an allocation for that FinTech fund”, Joe Jackson added.
He elaborated on how FinTech transforms everyday transactions, illustrating its role in modern payment systems.
“If I send you something, you give it to a delivery boy, he delivers it, and I make your payment—that is purely possible because there is a payment system.”
He said services such as loans, savings, and investments, enabled by FinTech, are vital for achieving economic vibrancy.
The Director of ICT at the Ministry of Communication, Digital Technology, and Innovations, Dr. Samuel Antwi-Gyekyi, , reaffirmed the government’s commitment to fostering FinTech innovations while ensuring a secure regulatory environment. He emphasized the need to strengthen cybersecurity measures to bolster financial stability.
The event also acknowledged the impressive growth of Africa’s FinTech sector, with a reported 264% increase year-over-year in 2021, marking a significant milestone in its evolution, particularly post-COVID-19.
The 2025 Ghana FinTech Awards was on the theme; “Building Trust in Ghana’s Digital Economy: The Essential Roles of Cybersecurity and Data Privacy,” highlighting the importance of robust cybersecurity frameworks in securing the future of Ghana’s digital economy.