The Minister for Communication, Digital Technology and Innovations, Mr. Samuel Nartey George has announced government intentions to invest $50 million from the Fintech Development Fund into local startups.
According to the Minister, the investment highlights government’s commitment to building a robust innovation ecosystem which is intended to support startups through an incubator and accelerator program, nurturing businesses from operation viability to scale-up.
He disclosed this last Friday in Accra when a delegation from the African Council of Graduates, headed by CEO and founder Thamsanqa Maqubela, visited him to explore potential partnerships aimed at supporting Ghana’s youth and graduates.
Mr. George emphasized his desire to leave a lasting legacy by establishing this innovation ecosystem, with plans to enshrine the initiative in law to ensure its sustainability beyond his current tenure.
“This collaborative approach, leveraging digitalization, is crucial for driving economic growth, improving education, and enhancing the quality of life for Ghana’s citizens,” he stated.
The Minister outlined his vision for the Ministry as a facilitator, providing crucial behind-the-scenes support through digitalization and technology to enable other ministries to succeed.
This includes leveraging technology to support sectors like agriculture, with the Ministry providing meteorological data for the Ministry of Agriculture’s food resilience program.
Mr. George emphasized potential areas for collaboration including integrating digital skills training into existing programs, such as the One Million Coders initiative, and supporting innovation and entrepreneurship in sectors like agriculture and agro-processing.
He added “Promoting the adoption of technologies like drones and data analytics to drive efficiency and productivity is also a focus.”
The African Council of Graduates proposed a formal Memorandum of Understanding with the Ministry, focusing on youth empowerment through digital skills development and innovation, particularly in agriculture and agro-processing.
Discussions also included the potential for using drone technology in agriculture and how the Ministry could support such initiatives, as well as engaging with students before graduation to equip them with digital skills to reduce unemployment.
