Dr Mahamudu Bawumia, flagbearer of the New Patriotic Party (NPP), has promised to establish a Fintech Fund with a seed capital of $100 million if elected president in the December polls.

During the launch of the NPP’s manifesto, Dr Bawumia explained that the initiative would attract additional private sector funding to support Ghanaian start-ups developing payment and financial services solutions.

He pledged to collaborate with the Bank of Ghana to significantly expand the Regulatory Sandbox, admitting more Ghanaian and regional FinTechs.

According to him, this will position Ghana as a leading Multi-Regulatory/Multi-Jurisdictional Sandbox for financial and payment interoperability.

“Establish a Fintech Fund with a seed capital of US$100 Million to attract additional private sector funding to support Ghanaian start-ups developing payments and financial services solutions, especially focused on Region-wide, exportable solutions.

“Work with the Bank of Ghana to significantly expand our Regulatory Sandbox to admit more Ghanaian as well as regional Fintechs. This will position Ghana as a Multi-Regulatory/Multi-Jurisdictional Sandbox for financial and payments interoperability.”

Additionally, he assured that Ghanaian tech start-ups will benefit from a Matchmaking Programme, which will connect them with mature and large tech firms on government tech projects.

“Provide“live lab” opportunities to Ghanaian tech start-ups under a Matchmaking Programme, by purposely connecting them to matured/large tech firms working on government tech projects,
to help start-ups test their ideas in real-world environments, and to accelerate their product development cycle.

“Continue leading in the African Union policy campaign to achieve cross-border mobile money interoperability to enhance significantly the buying and selling of goods and services across
Africa. This will instantly expose Ghanaian enterprises and young entrepreneurs to a market of 1.4 billion people.”