The Minister for Foreign Affairs and Regional Integration, Samuel Okudzeto Ablakwa, has underscored the growing importance of technology and fintech in transforming Africa’s economy, saying digital innovation will play a central role in advancing financial inclusion and regional integration across the continent.
Speaking as keynote speaker at the closing ceremony of the 3i Africa Summit in Accra, the Minister for Foreign Affairs and Regional Integration said Africa must strategically embrace technological change to strengthen its financial systems and compete effectively in the global economy.
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The summit was held on the theme “The Next Frontier: Shaping Africa’s Integrated Fintech Future,” and focused on how digital finance, innovation and cross-border collaboration can support Africa’s economic transformation.
Addressing participants on “Regional Financial Integration for Nation Development,” Ablakwa noted that technological innovation is rapidly changing global financial systems and creating new opportunities for developing economies.
Technological innovation is reshaping how we work and how we solve societal problems,” he stated.
According to him, digital financial systems are expanding access to financial services, particularly for underserved communities, while also creating new economic opportunities across Africa.
The Minister said Africa’s response to global technological shifts must be anchored on stronger regional cooperation, policy alignment and investment in digital infrastructure.
How Africa responds is critical,” he said. “It must be strategically anchored on deepening regional integration initiatives and strengthening continental financial systems.”
Ablakwa praised Ghana’s progress in digital finance and mobile money interoperability, describing the country as one of the leaders in fintech innovation on the continent.
He said Ghana’s experience demonstrates how financial technology can significantly improve financial inclusion and expand access to services for individuals and small businesses.
Fintech innovation has significantly expanded financial inclusion,” he observed.
The Minister also highlighted Ghana’s support for the ECOWAS free roaming initiative and efforts to build open and interconnected cross-border payment systems across West Africa.
He stressed the need for robust regulatory frameworks to address emerging challenges such as cybersecurity, data protection and fintech regulation.
We must ensure that technological innovation contributes to integration rather than fragmentation,” he said.
Ablakwa noted that efficient digital financial systems are particularly important for small and medium-sized enterprises, women entrepreneurs and young people seeking access to capital and regional markets.
He also praised the Pan-African Payment and Settlement System for facilitating faster and cheaper cross-border transactions in local currencies, describing it as a major step toward Africa’s financial integration agenda.
According to him, digital payment infrastructure is becoming increasingly important to the successful implementation of the African Continental Free Trade Area.
The Minister further commended the Bank of Ghana and its Governor, Johnson Asiama, for implementing reforms that have strengthened macroeconomic stability and supported digital financial innovation.
He said Ghana’s improving economic indicators and digital finance reforms demonstrate the potential of effective leadership and sound policy coordination.
Ablakwa maintained that Africa’s youthful population, expanding digital ecosystem and abundant natural resources position the continent strongly for future growth if governments continue to invest in innovation and collaboration.
Africa has all the foundations it requires to become an economically strong and vibrant economic space,” he said.
The 3i Africa Summit brought together policymakers, central bank governors, regulators, fintech companies, investors and development partners to discuss the future of Africa’s digital finance ecosystem.
Jointly organised by the Bank of Ghana and Ghana Interbank Payment and Settlement Systems, with support from MTN Group and the Global Finance & Technology Network, the summit explored issues including digital payments, fintech innovation, mobile money expansion, regulatory harmonisation and investment in digital infrastructure.
Held at the Destiny Arena, the forum served as a platform for shaping Africa’s transition from fragmented financial systems to a more integrated digital economy capable of supporting trade, innovation and inclusive growth.
