Speaking at the Ishmael Yamson & Associates Business Roundtable, he urged companies to form partnerships beyond local borders because they "cannot thrive in isolation".

The discussion on theme: "African Businesses: Collaborating for Global Success", focus on technological advancements and strategic partnerships.

Mr Boateng highlighted rapid digital transformation across Africa, citing increased mobile phone and internet user growth in Ghana and other parts of the continent.

"Over the past decade, internet users in Ghana have grown from 5.3 million to approximately 24 million, indicating the deep integration of internet usage in society. The critical question now is how we utilise this data effectively to drive digital banking.

"In the past year, 64 per cent of Ghanaians initiated digital payments, signaling a significant shift from traditional banking to digitisation. However, debit card usage remains low at around 18 per cent, due to the prevalence of mobile money," he noted.

Mr Boateng highlighted the success of Ghanaian company ZeePay, which acquired 51 per cent stake in a Zambian company, as an instance of regional expansion and collaboration.

He acknowledged the challenges faced by African businesses but expressed confidence that strategic partnerships between banks and FinTechs "will lead to global success."

The Divisional Director praised the rise of African FinTech companies like M-Pesa, EcoCash, and others that are "revolutionising financial services, cross-border payments, and agricultural productivity across the continent".

"Imagine the possibilities if telecommunication companies join forces with local fintech startups, replicating the success of M-Pesa by Safaricom. This could lead to groundbreaking mobile banking solutions across the continent... Collaboration on critical infrastructure projects, like transportation and energy, is essential,” he stated.

Referring to regional trade agreements and initiatives like AfCFTA, Mr Boateng called for policies that "promote openness and reduce barriers to cross-border trade and investment."

Participation in the Ishmael Yamson & Associates Business Roundtable forms part of Fidelity Bank's commitment to supporting the growth and success of African businesses.