The Ghanaian Ministry of finance launched three policy initiatives to boost financial inclusion and digital development in the country. The initiatives include the National Financial Inclusion and Development Strategy, the digital financial services policy, and the Cash-Lite roadmap.

The National Financial Inclusion and Development Strategy, prepared in collaboration with the World Bank, aims to bring the financial inclusion rate to 85% from the current 58% by 2023. This will, in turn, create economic opportunities and reduce poverty.

The digital financial services policy, developed in partnership with the Consultative Group to Assist the Poor (CGAP), builds on existing technological gains to create a resilient, inclusive and innovative digital ecosystem that contributes to social development, a robust economy, and a thriving private sector.

The Cash-Lite roadmap, designed with the UN Alliance Better Than Cash, proposes concrete steps to build an inclusive digital payment ecosystem. This includes better access to financial services, revamped regulation and oversight, and the promotion of consumer protection.

The finance ministry says a new digital payment coordination unit has been set up by the government to stimulate the implementation of strategical actions oriented towards financial inclusion.