The Fintech Industry in the country holds prospects to job creation and national development, Managing Director of Arkel Consult and Management Services Limited, Martin Kwame Awagnah, had said.

According to him, mobile money and financial services innovative solutions, which had promoted financial inclusion, was the offspring of the Fintech Industry.

Speaking to journalists via zoom in Accra on Tuesday, ahead of the Ghana Fintech Outlok 2021 conference and awards, Mr Awagnah said the Fintech Industry could be one of the industries to tackle the growing unemployment among the youth and accelerate national development.

The conference slated for November 19-20, 2021, in Accra and dubbed: “Promoting Collaborations and Accelerated Investments in Ghana’s Fintech Ecosystem,” would bring together financial sector experts, regulators, and internationally recognised industry leaders to discuss the role of Fintechs in Ghana’s burgeoning economy.

He said the mobile money business has created a lot of employment for the thousands of youth in the country.

“The recent report by the Bank of Ghana indicates monies held in momo wallets are more than monies held by the Banks,” Mr Awagnah said.

Touching on the conference and awards, Mr Awagnah said the speakers would look at case studies and approaches taken to enhance the financial inclusion and digital financial literacy agenda, and the event would also recognize the efforts of local and Fintech companies who are at the forefront of digital transformation in the financial sector.

“No economy has developed without a solid data on the various sectors of the economy. This is why the Ghana Fintech Outlook 2021 Report project is crucial. The report is a culmination of years of research. We are proud that this will become a foundation of the Fintech database in Ghana. Our gratitude goes to our sponsors and supporters and we look forward to developing the database to capture emerging changes,” he said.

He said the programme introduced in 2020 was aimed at educating the entire citizenry on how to transform the country through digitisation.

“The awards ceremony is to recognise the achievements of individuals and companies who are contributing to the growth of Ghana’s financial technology ecosystem,” Mr Awagnah mentioned.

Mr Awagnah said the report would help map out the Fintech companies in the country.

He said the report would help determine the turnover of Fintech companies and solutions they were introducing into the Fintech eco-system.

“The report will help determine the contributions of the Fintech Industry to the Ghanaian economy,” Mr Awagnah said.