{"id":162370,"date":"2024-03-15T14:52:15","date_gmt":"2024-03-15T14:52:15","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/15\/ill-establish-a-50m-fund-to-strengthen-fintech-industry\/"},"modified":"2024-03-15T14:52:15","modified_gmt":"2024-03-15T14:52:15","slug":"ill-establish-a-50m-fund-to-strengthen-fintech-industry","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/15\/ill-establish-a-50m-fund-to-strengthen-fintech-industry\/","title":{"rendered":"I&#8217;ll establish a $50m fund to strengthen Fintech industry"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has pledged to establish a $50 million fund to strengthen Ghana\u2019s rapidly growing financial technology (fintech) industry if he becomes president in 2025.<\/p>\n<p>With over 70 fintech companies in the country, many of them being start-ups, Mr Mahama emphasised the importance of strategically positioning the fintech sector to drive economic growth.<\/p>\n<p>During a dialogue with Ghana\u2019s fintech community in Accra, Mr Mahama highlighted the need for a well-planned approach to bolster the industry\u2019s growth.<\/p>\n<p>As part of his vision for the sector, he also announced plans to establish a women\u2019s bank to address existing gender disparities within the financial sector.<\/p>\n<p>He indicated that the next NDC government aims to create a more inclusive financial environment by supporting and empowering women in the industry.<\/p>\n<p>\u201cThe gender gap between females and males continues to widen notwithstanding Ghana\u2019s level of financial inclusion. For example, according to the global fintech\u2019s report in 2014, the financial inclusion gender gap was 3% male access than female.<\/p>\n<p>\u201cThis inequality gap increased to 8% in 2017 and went up again to 11% in 2021. This trend is unacceptable and needs urgent attention if we are to put Ghana on the path of sustained and inclusive development. Considering that women form almost 51% of the population and own about 44% of micro small and medium enterprises constituting about 92% of businesses in Ghana, the exclusion from financial services could undermine our economic development efforts.<\/p>\n<p>\u201cWe are also thinking to complement this to revive a women\u2019s bank\u2026A specialised bank that would assist this gender bank. Let me assure you that the next NDC government will promote women-owned financial institutions focusing on women-owned businesses and promoting financial inclusion amongst them.<\/p>\n<p>\u201cIt takes more than micro loans to empower women-owned businesses and promote sustainable and inclusive growth,\u201d he stated.<\/p>\n<hr\/>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU:\u00a0https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<div class=\"google-auto-placed ap_container\">\n<p><em style=\"background-color: #ffffff;\"><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has pledged to establish a $50 million fund to strengthen Ghana\u2019s rapidly growing financial technology (fintech) industry if he becomes president in 2025. With over 70 fintech companies in the country, many of them being start-ups, Mr Mahama emphasised the importance of strategically positioning [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":159221,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-162370","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>I&#039;ll establish a $50m fund to strengthen Fintech industry - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/15\/ill-establish-a-50m-fund-to-strengthen-fintech-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I&#039;ll establish a $50m fund to strengthen Fintech industry - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has pledged to establish a $50 million fund to strengthen Ghana\u2019s rapidly growing financial technology (fintech) industry if he becomes president in 2025. 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