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Business News of Monday, 13 May 2024


Source: CNR

Harnessing Fintech potential requires collective effort – Amin Adam

Dr. Mohammed Amin Adam Dr. Mohammed Amin Adam

Finance Minister, Dr Mohammed Amin Adam, has underscored the need for collective action and strategic partnerships to fully harness the potential of financial technology.

Fintech, a term that refers to the application of technology to enhance financial services and products, has the potential to create new markets and provide consumers with greater convenience and efficiency.

Moreover, fintech can utilise big data, artificial intelligence, and machine learning to analyse investment opportunities, optimise portfolios, and mitigate risks.

Addressing the audience at the 3i Africa Summit in Accra on Monday, the finance minister emphasised the importance of all stakeholders coming together to ensure the realisation of this goal.

“Realising the full potential of fintech in effecting substantive change necessitate concerted efforts and strategic alliances among various stakeholders including governments, regulatory bodies, financial institutions, technology firms and civil society organisations.”

“We must also transcend national boundaries and forge strategic partnerships spanning sectors industries and jurisdictions to make meaningful progress,” he stated.