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Mahamudu Bawumia (center), vice president, and Gerd Muller (right), German Minister for Economic Cooperation and Development at the summit. Image: EMMANUEL ASAMOAH ADDAI
The payment of services in the public sector will be digitized from July this year to ensure the smooth functioning of the government, said Vice President Mahamudu Bawumia.
This decision, he said, follows the successful implementation of the mobile interoperability infrastructure that would contribute to the efficiency of electronic payments for government services.
'To date, the country has about 34.5 million mobile money subscribers and interoperability infrastructure makes it possible to make payments from bank accounts to mobile accounts and vice versa.
"With this infrastructure, we want to address the problem of financial inclusion. Thus, by mid-year, the government will stop using cash to pay for services. That's the Ghana we are trying to build, "he said.
Mr Bawumia announced it at the opening yesterday of the Third Summit of German-African Enterprises (GABS) in Accra.
gabs
GABS is an initiative that brings together industry captains and heads of government from Germany and sub-Saharan Africa every two years to discuss and promote economic relations between the parties.
It is organized by the German Business Initiative for Sub-Saharan Africa (SAFRI).
About 750 senior representatives from the world of business and politics from Germany and sub-Saharan countries participate in the summit.
They will explore prospects for economic development, business opportunities, finance, digitization and start-up models.
Invest in Ghana
Bawumia said the government has focused on promoting trade and investment to build a country with a strong economy that can meet the development needs of citizens.
He described Ghana as the best place to invest in Africa because he said his country has a stable democracy and a peaceful environment for business development.
He added that the government had managed to improve microeconomic stability by reducing the budget deficit, inflation, interest rates and the debt-to-gross domestic product (GDP) ratio, thus making the 39, a viable economy for investment.
Mr. Bawumia pointed out that the implementation of agricultural and industrialization policies, such as Planting to Create Jobs and Creating Jobs (PFJ) and Single District, A Factory (1D1F), reflected the government's determination to transform the economy.
He said that the Cabinet had adopted the automobile policy framework two weeks ago for all investors in the auto sector with a view to improving the sector and called on investors to explore the opportunities that are growing in this field and in other areas such as energy, pharmaceuticals and the petrochemical industry. .
Believe in Africa
The Vice President pointed out that Africa was the future of the world, which is why he asked investors to be more interested in this continent.
"Demographically, by 2050 Africa will be the most populated continent in the world, and with this huge demographic dividend, increased trade and investment will help us make a difference.
But we also need to educate our people and put in place the right infrastructure and policies to right the situation, "he said.
Bawumia said the way forward is for African governments to increase trade and seek strategic partnerships with other continents.
German Minister for Economic Cooperation
The Minister of Economic Cooperation and Development of the Federal Republic of Germany, Mr. Gerd Muller, congratulated Ghana for maintaining a stable democracy.
He called for strengthening accountability and democratic institutions to help fight corruption in order to boost investor confidence in the country.
On the way forward for Africa, Mr Muller called for adding value to raw materials as a priority as this would have an impact on job creation and boost the local economy. .
"I want to say that Africa should not export cocoa and coffee as raw materials to Europe; it should add value, "he said.
He also stressed the need for African countries to put in place policies that allow private investment to flourish and transform their economies.
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