Amanfoɔ! Prempeh College Triumphs Over Top International High Schools, Secures Victory at Robofest World Championship!
Ghana's digital ecosystem week in review: Ghana Fintech Q1 2024 Report, BoG and Zeepay, Successful eCedi cross border transaction, STEMNNOVATION,3i summit, MEST Edtech fellowship program..............
Digital Digest No. #111100
Date: May 13 - May 19 2024
Dear Friends,
Happy new week!🎉
Here are the most important news, perspectives, analysis, and insights about the Ghanaian digital ecosystem from last week.
Digital governance
News updates
Bank of Ghana Grants Zeepay Approval for Outbound Money Transfer within the Regulatory Sandbox
Zeepay, an Africa fintech and a challenger in the mobile money sector, who enables cross-border payments from Ghana to key destinations, including the UK, USA, Ivory Coast, and Nigeria has secured regulatory approval from the Bank of Ghana for its outbound money transfer service. Zeepay is the first of its kind granted by the Bank of Ghana or any other regulator within the regulatory sandbox to a Mobile money operator originating from mobile money wallets.
Digital infrastructure and platforms
News updates
Infinix Ghana wins Smartphone Brand of the Year at Ghana-West Africa Business Excellence Awards
Infinix Ghana has been honored as the Smartphone Brand of the Year at the Ghana-West Africa Business Excellence Awards 2024, an annual event celebrating top businesses and individuals in West Africa. Supported by the Ghana Chamber of Commerce and Industry (GNCCI), the awards recognize excellence, innovation, and sustainable business practices. Infinix Ghana's journey to this award is marked by its dedication to providing high-quality, innovative smartphones at affordable prices.
Digital finance
News updates
Data Points: Ghana Fintech Q1 2024 Report
The Bank of Ghana (BoG) has released its Q1 2024 report on fintech in Ghana. The report which was compiled by the Fintech and Innovation Office at the BoG provides an overview of the fintech ecosystem in Ghana including the number of mobile money agents, transaction value, and volumes from payment system providers and other players in the space
Download Report here
BoG Announces Successful Use Of ecedi In Cross-Border Transaction
Director of Fintech and Innovation Office at the Bank of Ghana, Kwame Oppong, has announced the successful execution of a cross-border transaction payment making use of Ghana’s central bank digital currency, the eCedi, and an approved stablecoin from Singapore demonstrating the completion of the first proof of concept (POC) as part of Project DESFT (Digital Economy Semi-Fungible Token).
Hubtel, Verifibuy Named Among Fastest Growing Companies In Africa
Ghana’s Hubtel and Verifibuy (formerly Kudigo) have been named among the top 50 fastest growing companies in Africa in 2024 by the Financial Times. Among the top 50, leading Ghanaian Fintech, Hubtel came in at number 30, while another Fintech, Kudigo came in at number 48. According to researchers, many of the businesses which made the cut, have overcome the Covid-19 pandemic and the many other challenges facing African economies, particularly a 3.2% overall economic growth in Africa, compared to 5% in Asia
Digital entrepreneurship
News updates
MEST Africa selects 12 startups for the Mastercard Foundation EdTech Fellowship Program.
MEST Africa has unveiled the selection of 12 innovative companies for the inaugural Mastercard Foundation EdTech Fellowship in Ghana. This fellowship is designed to support promising African EdTech companies with essential business and financial resources, insights into the science of learning, and preparation for scale, sustainability, and impactful growth. The companies will also receive $60,000 equity-free funding and access other funding opportunities to fuel the growth and sustainability of their business.
The Minister of Finance, Dr. Mohammed Amin Adam, speaking to African policymakers, fintech innovators and investors at the opening of the maiden 3i Africa Summit has shared that despite low financial support, 80 percent of jobs, 70 percent of growth, and 92 percent of manufacturing in Ghana come from SMEs, adding that the Ministry of Finance is putting the finishing touches on a SME financing plan that includes direct funding to SMEs, guarantees for financial institutions, lower borrowing costs, fintech-supported innovation and skill development in the SME ecosystem
Digital talents
News updates
Prempeh College Wins Two Titles At 2023 Robofest World Championship In USA
The Robotics Club of Prempeh College at the just-ended 2023 Robofest held in the USA has beat their contenders, who represented top-notch high schools globally, to clinch two world championship titles. The group developed the JAK Robot, beating other contenders in completing automated tasks with exceptional speed.
3rd edition of STEMNNOVATION competition launched
The Free Senior High School (FSHS) Secretariat of the Ministry of Education (MoE) in partnership with the National Entrepreneurship and Innovation Programme (NEIP), has launched the third edition of STEMNNOVATION – a competition among pre-tertiary students and address societal needs showcase STEM projects addressing societal challenges. Participating institutions are expected to submit project topics in one of the following areas: Digital Technology, Environmental Sustainability, Food Sovereignty and Sustainable Energy.
Missed the 3i Summit? Tap to read a brief reflection of the event!
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