Member of Parliament (MP) for Madina Constituency, Francis-Xavier Sosu ESQ, has called for laws to regulate cryptocurrencies and artificial intelligence (AI).
Speaking on the second day of the 2025 Africa Research and Innovation Commercialisation Summit (ARICS) session on the theme ‘The Africa Trade Awakening: From Suppliers to Global Power Players’, the Madina legislator said, “To facilitate the transition from suppliers to global power players, African countries must ensure the realisation of inclusive and sustainable investments in Africa’s youthful population; leverage the AfCFTA as a vehicle to become a powerful Trade bloc; and guarantee significant investments in Africa’s infrastructure and digital technology.”
He added, “For Ghana, we must also take urgent steps to amend our laws, such as the Payment Systems and Services Act, 2019 (Act 987), to introduce a new regime to regulate modern trends such as through the use of artificial intelligence and crypto currencies. The passage of such legislative frameworks is necessary to better regulate our financial markets as we prepare to make the transition from suppliers to global power players.”
Lawyer Sosu, who doubles as Ranking member for the Subsidiary Legislation Committee and member of the Foreign Affairs, Constitutional and Legal Affairs, and Speaical Winnowing Committees of Parliament, urged African states to stand and work together and commit themselves to the journey ahead as they awaken to the dawn of a new era and take their rightful place in the comity of nations.
