Ghana is transitioning from an economy built on mineral wealth to one increasingly fueled by digital data, positioning itself as a rising hub in Africa’s fast-evolving digital economy. As mobile money use, fintech services, and e-commerce platforms expand, the country is building a foundation for long-term economic growth through data generation and analytics.
Digital technologies now account for 18% of Ghana’s total employment and are projected to drive up to 40% of future economic growth, according to data analytics and AI expert Dr. Eugene Frimpong. “Ghana is undergoing a transformation,” he said. “Our mobile money transactions, online purchases, and fintech innovations are not just financial activities, they are becoming valuable digital assets.”
From Gold to Gigabytes
Long recognized for its natural resources, Ghana is now positioning digital data as a strategic asset. The country ranked 15th out of 47 African nations in the 2024 ICT Development Index, supported by nearly two decades of investment in e-governance and digital policy.
Under its 2024 theme, “Empowering Sustainable Development of Our Digital Future,” Ghana has targeted digital infrastructure, digital ID systems, and fintech regulation to expand access and improve data reliability.
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Mobile Money at the Center
The surge in mobile financial services is one of the most significant drivers of Ghana’s data economy. West Africa recorded a 21% increase in mobile money accounts in 2024, with Ghana emerging alongside Nigeria and Côte d’Ivoire as a regional leader. Every digital transaction, from money transfers to small business payments, feeds into a growing pool of behavioral and financial data.
Beyond peer-to-peer payments, platforms are now offering digital loans, insurance, and credit scoring services. These activities generate real-time insights that are already being applied to other sectors, including agriculture, public health, and urban development.
Four Dimensions of Ghana’s Big Data Ecosystem
Frimpong notes that Ghana’s data growth mirrors global big data trends across four key pillars:
- Volume: With a rising volume of digital activity, Ghana contributes meaningfully to the global zettabyte-scale datasphere.
- Variety: Mobile payments, e-commerce, IoT sensors, and digital government records are feeding diverse data streams.
- Velocity: Real-time transaction systems are enabling instant analysis and decision-making.
- Veracity: Regulatory improvements, such as data protection legislation, are boosting data quality and trust.
Infrastructure, Skills, and Security Gaps Remain
To fully capitalize on its digital momentum, Ghana faces several challenges. Investments in cloud storage, data analytics, and skilled human capital remain critical. The absence of strong cybersecurity frameworks also presents a vulnerability as data volume accelerates.
With the global big data market projected to reach $396.4 billion by 2025, Frimpong argues that Ghana’s readiness to invest in foundational systems will determine whether it can turn digital insights into tangible development gains.
Model for Emerging Economies
Ghana’s digital strategy, built on public-private partnerships, regulation, and citizen services, according to him, offers a blueprint for other developing economies aiming to modernize through data. As the global datasphere is expected to expand to 394 zettabytes by 2028, Ghana is not only contributing to this growth but actively shaping how digital economies take root across the continent.
“The question isn’t whether Ghana will be part of the big data revolution,” said Frimpong. “It’s whether we can convert that data into real, inclusive economic development.”
