20 Startups Complete Transformative Journey at UNICEF StartUp Lab.
Ghana's digital ecosystem week in review: MTN suspends new MoMo tariffs, Justice locator app launched, Google WA boss step down, ...
Accra Digital Digest No. #010101
Date: June 26 - July 3, 2023
Dear Friends,
Happy new month! Here are the most important news, perspectives, analysis, and insights about Ghanaian digital ecosystem last week.
Digital infrastructure & platforms
News updates
Afreximbank’s digital platforms to facilitate trade and boost economic development in Ghana
The Chairman and CEO of Oakwood Green Africa, Mr. Gabriel Edgal, has emphasized the transformative impact of Afreximbank’s digital platforms, including the MANSA and Pan-Africa Payment and Settlement Systems (PAPSS) platforms, on Ghana’s economic development and participation in intra-African trade.
The legal sector is undergoing a tremendous revolution through technology. One of the more understated change-makers driving this digital transformation and redefining the parameters of justice delivery in Ghana is the Justice Locator mobile application.
MTN Ghana denied over GHS86 million interconnect fees due to SMP status
Between October 2020 and December 2022, MTN Ghana was denied GHS86.6 million in interconnect fees due to its significant market power (SMP) status.
This was the sum of moneys each of the three other telcos – Vodafone, AT and Glo should have paid to MTN for terminating traffic (calls and SMS) on the MTN network over the two-year plus period in question, but for the SMP regulatory intervention by the National Communications Authority (NCA).
Elephant in the room: Telecom industry collapsing under this NCA? – Part 1
On June 20, 2023, out of the blue, Ghana’s telecoms industry regulator, the National Communications Authority (NCA) made a post on its official Twitter handle (@NCAGhana), explaining the rationale for classifying and declaring MTN Ghana as a Significant Market Power (SMP) exactly three years ago in June 2020.
The big question is, why would the NCA find it necessary, after three years of declaring and two years of implementing SMP interventions, to issue a statement, not to tell us about the impact of the interventions so far – as in the extent to which it has corrected or is correcting the marketing imbalance – but rather to explain what SMP was not meant to do?
Digital governance
News updates
BoG fines, suspends forex licenses of Fidelity and First National Bank
The Bank of Ghana has temporarily suspended the foreign exchange (forex) licenses of Fidelity Bank and First National Bank (FNB) for flouting forex regulations in the country.
BoG said the two banks breached sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules.
Section 3 of the Ghana Interbank Forex Market Conduct is on Market Rules. Sub-section 3.4 is on Indicative Quotes; 3.5 is on Trade Reporting on Platforms; while 3.9 is on Fixing of Official Exchange Rate.
Digital finance
News updates
Telecommunication giant, MTN has suspended its planned adjustments in Mobile Money (MoMo) charges scheduled to have taken effect from July 1, 2023.
Earlier, the telco said transactions up to GH¢2,000 were to see a one percent charge and a flat rate of GH¢20 for transactions above GHS 2,000.
Figtech, A Ghanaian Insurtech start-up set to boost insurance penetration in Ghana and beyond on the back of its innovative MyFIG app
Ghanaian insurtech start-up, Figtech Limited, is poised to boost insurance penetration in Ghana and beyond on the back of its innovative MyFIG app designed to be a one-stop-shop for various insurance services in the country.MyFIG is a centralized digital platform where customers can find and compare insurance products and premiums side-by-side, thereby harnessing time-saving processes that allow fast and seamless access to information across the insurance industry..
Digital entrepreneurship
News updates
20 Ghanaian Startups Graduate from UNICEF StartUp Lab Accelerator
Twenty startups graduated from the UNICEF startup lab after an intensive six-month accelerator program focused on business and product development.
Led by UNICEF in Ghana and supported by KOICA under the “KOICA-UNICEF Accelerating Entrepreneurship and Innovation in Ghana” project, the UNICEF StartUp Lab is an accelerator program dedicated to support businesses working towards advancing the United Nations Sustainable Development Goals (SDGs) for children and young people.
Govt spends GH¢800m on 9000,000 businesses in 5 yrs GEA CEO
The government has committed GH¢800 million towards the growth and development of micro, small and medium scale enterprises (MSMEs) in the country since 2017.
According to Kosi Yankey-Ayeh, Chief Executive Officer of the Ghana Enterprises Agency (GEA), more than 900,000 businesses have been supported within the period to grow and expand.
Uber Ghana Debuts “Women Rider Preferred View” Feature
Uber Ghana is launching two new features in Ghana: Women Rider Preferred View and a partnership with Aura to provide In-App emergency support for riders and drivers using the Uber platform.
With “Women Preferred View” feature, women drivers who use the Uber app can set a preference for picking up only women riders. Drivers can turn the feature on or off whenever they choose.
Ghanaian Startup Berry Health Raises $1.6 Million Pre-Seed Round From Lightspeed Ventures
Berry Health, a Ghanaian startup, has raised a $1.6 million pre-seed round which is co-led by U.S.-based large-size funds Lightspeed Ventures (its first investment in Africa) and General Catalyst.
Berry Health offers remote diagnosis — for conditions such as anxiety, depression, and sexual health (e.g., birth control and erectile dysfunction), dermatology, and hair loss — through telemedicine and treatment via online consultations and home delivery services.
Digital talents
News updates
Acquiring digital skills; A Necessity To Thrive In This New Age
The Head of Personal and Private Banking at Stanbic Bank Ghana, Mr. Benjamin Mensah, has emphasized the importance of acquiring digital skills in today’s world, saying that it was no longer a luxury but a necessity to survive and thrive in this new age. He made this statement at a Digital Skill Training programme held by the African Union in partnership with Stanbic Bank Ghana, UNFPA and Google to equip 100,000 young people across Africa with digital skills by the end of 2024.
Dr Juliet Ehimuan, the first Google West Africa Director, has left the company after 12 years and contributing to the company’s regional growth. Ehimuan in a statement said she will be taking on a broader role within the regional tech landscape. In doing so, she plans to collaborate with corporate executives, global investors, African governments, and startup founders to help them drive growth, excellence, and digital transformation within the continent’s ecosystem and broader business landscape.
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