The flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, has pledged to establish a seed capital fund for all Financial Technology (Fintech) companies if he is elected President in the December 7 polls.
Addressing party faithful at the launch of the NPP’s 2024 manifesto on Sunday, August 18, Dr. Bawumia announced his plan to “establish a Fintech Fund with a seed capital of US$100 million to attract additional private sector funding to support Ghanaian start-ups developing payment and financial services solutions, especially those focused on region-wide, exportable solutions.”
According to the NPP’s 2024 flagbearer, he will “work with the Bank of Ghana to significantly expand our Regulatory Sandbox to admit more Ghanaian as well as regional Fintechs. This will position Ghana as a Multi-Regulatory/Multi-Jurisdictional Sandbox for financial and payments interoperability.”
He further added that he would intentionally connect tech start-ups with mature or large tech firms working on government tech projects to enhance their product development cycles.
He reaffirmed his commitment to championing mobile money interoperability across the African continent.
“Continue leading in the African Union policy campaign to achieve cross-border mobile money interoperability to enhance significantly the buying and selling of goods and services across Africa. This will instantly expose Ghanaian enterprises and young entrepreneurs to a market of 1.4 billion people,” Dr. Bawumia stated.