Country Diagnostic: Ghana

Building an Inclusive Digital Payments Ecosystem: The Way Forward

This Diagnostic Report shows Ghana has taken important steps toward digitizing its economy, and has several of the building blocks of an inclusive digital ecosystem already in place.

Importantly, the Ghanaian government is leading by example in digitizing many of its own payments and continuously improving the regulatory environment. Large businesses are also taking positive steps. Even so, Ghana remains at the initial stages of its digitization journey, with cash still prevalent in many parts of the economy.

A number of key barriers must be overcome if the country is to drive forward its digitization agenda.

This Report assesses Ghana’s progress to date, and sets out specific policy recommendations that can accelerate Ghana’s journey toward a more digital economy. The report draws on a fast-growing body of knowledge about success factors in similar markets. It also examines three areas of specific focus – government fees and fines, public utility payments, and the fast-moving consumer goods sector – where digitization can have particularly powerful impacts.

Realizing the potential gains offered by digitization will help expand financial inclusion, boost government revenues, and drive new economic opportunities for Ghanaian individuals and businesses. In doing so, greater digital payments can significantly strengthen Ghana’s economy and society, now and for generations to come.