Govt, businesses need to strategize for inclusive digital economy

The Chief Executive Officer (CEO) of TechGulf Ghana Limited, Franklin Asare, says public and private companies need to strategize in ways that will enable them maximize their gains and ensure an inclusive benefit for all stakeholders in the digital economy.

TechGulf Ghana Limited is a technology company with the mandate to provide stable and secure data storage hardware and services.

He was speaking during a Forum organised by Citi TV as part of the Citi Business Festival on Tuesday.

The Forum was on the theme: “Reimagining the Digital Economy.”

“We need to develop the framework that we will adopt as a country. We need to look at that framework and audit where we are as a country so that we can have an assessment in terms of our maturity and the steps we are taking,” Mr. Asare stated.

Mr. Asare said the government has to refine its blueprint going forward to ensure clarity, while the private sector needs to put in place strategies and frameworks on where they want to be in the next few years.

“Out of the frameworks, we can design a policy direction, maybe a two- to three-year blueprint that is clear for all to audit performance against it,” he added.

Admitting that so many businesses will change in the next five years, Mr. Asare believed that educating the populace on the digital economy was crucial for empowerment.

He added that, “as we stand now, some people do not even know what AI is, so education is key.”

Horatio Dodoo, Digital and Payment Manager at Absa Bank Ghana Limited, speaking to the same question, said he anticipated more partnerships with the telecommunication companies (telcos) and Financial Technologies (FinTechs) companies.

“We should be seeing a lot more collaborations coming because if we do not collaborate, basically we may not survive,” he added.

Mr. Dodoo also urged startups to approach them for support where necessary.