By: Van
Soul Addey
Ghana needs a new approach
to financing its information and communications technology sector, with greater
access to capital tailored to the needs and growth stages of technology
businesses, Minister for Communication, Digital Technology and Innovations Samuel
Nartey George has said.
Speaking at the Development
Bank Ghana ICT Sector Financing Roundtable in Accra, held under the theme “From
Connectivity to Capital: Unlocking Finance for Ghana’s ICT Sector,” the
Minister said the country’s digital transformation must now move beyond connectivity
towards building productive economic value.
Ghana has made significant
investments in fibre infrastructure, broadband, mobile connectivity and digital
services, but George said the next phase will require substantially more
capital for data centres, cloud infrastructure, cybersecurity, software, fintech,
business process outsourcing, artificial intelligence and other
technology-enabled enterprises.
He identified the mismatch
between traditional financing models and the value structures of technology
companies as a major challenge. While conventional lending often depends on
physical collateral, technology businesses can derive significant value from
intellectual property, proprietary technology, data, contracts, recurring
revenues and human capital.
The Minister therefore
called for financing instruments that reflect the risk profiles and growth
stages of technology companies, including venture capital, private equity,
patient capital, blended finance, guarantees and credit enhancement mechanisms.
He also highlighted
government investments in digital skills and artificial intelligence as part of
efforts to strengthen Ghana’s technology ecosystem. The One Million Coders
Programme had recorded 141,954 registered accounts as of August 2026, while government
is also planning a US$250 million Artificial Intelligence Computing Centre.
George said Ghana must move
from consuming technology to producing, scaling and exporting technology
solutions, requiring stronger collaboration among government, financial
institutions, development finance institutions, investors, technology
entrepreneurs, regulators, development partners and academia.
He stressed that the
priority should be to move beyond further discussions and focus on mobilising
capital, developing bankable technology projects, scaling Ghanaian companies,
creating jobs and retaining more economic value within the country.
The financing agenda is
intended to support a transition from connectivity to enterprise, from skills
development to job creation, from innovation to commercialisation and from
startups to scale-ups capable of competing in global markets.
George said the objective
should ultimately be to create the financial and institutional conditions for
Ghanaian technology ideas to develop into commercially successful businesses
serving both local and international markets.
