{"id":21031,"date":"2024-07-12T11:11:31","date_gmt":"2024-07-12T11:11:31","guid":{"rendered":"https:\/\/sotnews.agency\/?p=21031"},"modified":"2024-07-12T12:24:24","modified_gmt":"2024-07-12T12:24:24","slug":"mastercard-ghana-hosts-annual-fintech-forum-highlights-cybersecurity-contactless-payments-to-drive-growth","status":"publish","type":"post","link":"https:\/\/sotnews.agency\/?p=21031","title":{"rendered":"Mastercard Ghana hosts annual fintech forum, highlights cybersecurity, contactless payments to drive growth"},"content":{"rendered":"
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\n \t<\/i> Read Time:<\/span>3 Minute, 52 Second <\/div>\n\n <\/div>

Mastercard hosted the second annual Mastercard Ghana Fintech Forum in Accra, bringing together key stakeholders and thought leaders in the fintech industry to discuss critical developments and foster collaboration.<\/p>\n

Building on the success of last year\u2019s inaugural event, this year\u2019s gathering emphasized the importance of cybersecurity and the growing adoption of contactless payments.<\/p>\n

The event highlighted the progress and innovation within Ghana\u2019s fintech sector. Fintech platforms in the country are revolutionizing financial services, reaching both underbanked and affluent individuals seeking sophisticated financial products and services. Recent data from the Bank of Ghana indicates a 33.4% increase in fintech transactions in Q1 2024, reaching GH\u00a2576.03 billion.<\/p>\n

Despite this growth, fintech companies face challenges such as regulatory hurdles, limited access to capital, and intense competition, affecting their growth and profitability. The Mastercard Ghana Fintech Forum aimed to address these issues, fostering engagement and innovation to drive financial inclusion.<\/p>\n

\u201cAt Mastercard, we believe in the power of collaboration to overcome unique market challenges, drive innovation, and foster growth in the financial sector. The Mastercard Ghana Fintech Forum has emerged as a vital platform for these discussions, promoting fintech growth and driving financial and digital inclusion,\u201d said Bossman Kwapong, Country Director for Ghana, at Mastercard. \u201cThis year\u2019s event was particularly significant, bringing together industry leaders to share insights and forge collaborations that will drive the next wave of fintech innovation in Ghana.\u201d<\/p>\n

\u201cThe Mastercard Ghana Fintech Forum has proved vital in bringing together key stakeholders from various sectors of the fintech ecosystem for productive conversations that will drive innovation and financial inclusion in Ghana. At Mastercard, our commitment to playing a pivotal role in the country\u2019s dynamic fintech ecosystem remains steadfast, as we continue to provide access to our expertise, network, and cutting-edge technologies to accelerate growth and meet evolving customer demands,\u201d added Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa at Mastercard.<\/p>\n

The event featured a panel session on \u201cContactless Payments \u2013 The New Paradigm.\u201d During this discussion, Akintunde Ajayi, Director, Business Development, Fintech & Enablers, EEMEA, Mastercard, said, \u201cContactless payments are revolutionizing the financial services industry by enhancing convenience, security, and accessibility. Mastercard is committed to advancing these solutions, supporting fintechs in delivering seamless, efficient, and secure payment experiences and driving financial inclusion across the region. Today\u2019s discussion highlighted the transformative potential of these technologies, and I am excited about the future we are building together.\u201d<\/p>\n

With only about 43% of Sub-Saharan Africa\u2019s population holding a traditional bank account and over 90% of payments and transactions being conducted in cash, Mastercard\u2019s initiatives around contactless payments are part of a broader strategy to drive financial inclusion and innovation in Africa. Through collaborations and technological advancements, Mastercard is empowering fintechs to provide secure and accessible payment solutions, enabling financial inclusion for underserved and unbanked communities across the continent.<\/p>\n

Dr. Albert Antwi-Boasiako, Director-General of the Cyber Security Authority (CSA), represented by Adjoa Tabi-Asiamah, Lead for Critical Information Infrastructure Protection, Audit, Monitoring & Compliance, CSA, delivered a keynote address highlighting the importance of robust cybersecurity measures amid Ghana\u2019s rapid digital growth. \u201cAs we embrace digital transformation, prioritising progressive policies and collaborations that enhance cybersecurity is essential for sustainable economic development. Today\u2019s event was a testament to the collaborative spirit needed to address cybersecurity challenges and to safeguard our digital future,\u201d he said.<\/p>\n

The event also spotlighted the Mastercard Start Path program, showcasing its role in nurturing and accelerating fintech startups locally and globally. Tolulope A. Adeyinka, Fintech Business Development Lead, West Africa at Mastercard concluded the event by emphasizing the importance of engaging with fintechs to drive inclusive innovation and economic development.<\/p>\n

\u201cMastercard Ghana Fintech Forum has become a cornerstone event for the fintech community in Ghana. It was inspiring to see the vibrant exchange of ideas and the collective commitment to pushing the boundaries of what\u2019s possible in fintech.\u201d<\/p>\n

Mastercard is deeply invested in the growth and development of the fintech sector in Ghana, providing the tools, resources, and mentorship needed to scale businesses. Additionally, Mastercard\u2019s commitment to bringing one billion people into the digital economy by 2025 aligns with its efforts in Ghana to drive financial inclusion and innovation.<\/p>\n

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The post Mastercard Ghana hosts annual fintech forum, highlights cybersecurity, contactless payments to drive growth<\/a> appeared first on Citinewsroom – Comprehensive News in Ghana<\/a>.<\/p>

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