Leaders in Ghana’s financial technology wants rules governing virtual assets on the continent to be harmonised to enable wider access. This call was made when they converged in Accra for a pivotal two-day seminar hosted by Precept and the Ghana Interbank Payment and Settlement Systems (GhIPSS) focused on Virtual Assets and Digital finance. The “LeadIn Fintech Summit” aimed at sharing innovative ideas and finding concrete pathways to grow the rapidly expanding virtual asset industry across the continent.
In her welcome address, the Chief Executive of GhIPSS, Clara B. Arthur, set a tone of responsible dynamism, noting that the event celebrated “innovation, collaboration, and the transformative power of technology in finance.” She emphasized that the industry’s pace challenges all stakeholders, entrepreneurs, regulators, investors, and technologists, to “think differently, act boldly, and innovate responsibly.” The CEO stated that fintech is more than a sector; it’s an “enabler of opportunity,” capable of connecting the unbanked and ensuring financial services are more accessible, transparent, and secure for all.
The seminar comes at a crucial time when projections suggest the virtual asset sector across Africa is poised to reach approximately $65 billion within the next five years. Local regulators, including the Bank of Ghana, have been actively working to establish a robust legal framework designed to regulate the sector, nurture its growth, and protect consumers from emerging risks.
Panelists on the first day underscored the dual need for industry growth and effective public engagement. They unanimously called for the sector to carry the public along through effective education to demystify virtual assets and build trust.
A major thematic takeaway from the discussions was the urgent need for harmonization of virtual asset rules across Africa. Industry leaders argued that creating uniform regulations would allow African Fintechs to easily access and operate within the burgeoning continental market. Some speakers suggested a “piecemeal approach” to harmonization, recommending that countries with established legal frameworks and similar levels of fintech development could begin the process, allowing other nations to join as their domestic frameworks mature.
The second day focused on Artificial Intelligence and Data Analytics for Financial Innovation.
