During an influential presentation today, the second deputy governor of the Bank of Ghana, Mrs. Awadzi-Addo, a committed supporter of uplifting the underserved, highlighted financial inclusion as a fundamental element for achieving economic empowerment across the African continent.
Her speech at the 3i Africa Summit in Accra underlined the essential nature of bringing financial services to Africa’s most marginalized populations as a key to unlocking the continent’s expansive economic potential.
“Economic empowerment is intrinsically linked to financial access,” pronounced Mrs. Awadzi-Addo. “Elevating the economic position of the underserved is a crucial step in leveraging the full capabilities of any economy.”
She further underscored the need for financial inclusion to be at the heart of policy and business planning for both regulators and financial service providers to fully integrate underserved communities into the broader economy.
The push for action aimed at including those currently excluded advocates for financial inclusivity to be woven into the fabric of policy directives, regulation, and the business structures driving the financial industry.
“As we strive for financial inclusivity, it’s imperative to view it not as a sideline issue but as a core component in our strategies.
“This approach should be consistently reflected in our policies, regulations, and within the business models of entities that provide financial and payment services. This way, it becomes a foundational business principle that includes everyone,” she explained.
Additionally, Mrs. Awadzi-Addo addressed the critical importance of Africa developing its own foundational digital infrastructure to have a meaningful stake in the global landscape of innovation.
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“For Africa to stand firm in the global innovation arena, it’s vital that we establish our own digital public infrastructure,” she emphasized.
In conclusion, Her call for action reinforces the pressing need for collaborative efforts to focus on financial inclusion as a vital driver of economic development and prosperity throughout Africa.
