Anthony Fesu, Lead Architect at Absa Bank Ghana, says businesses that embrace digital tools are becoming more efficient, transparent, and financially attractive, especially to banks and investors.
Speaking on Week Four of the Citi Breakfast Show on Monday, which focused on Ghana’s growing digital economy, Mr. Fesu explained that the use of technology is reshaping how businesses operate — from market access to financial inclusion.
“If you see someone selling shoes at Makola, the person today has the opportunity to put those shoes or wear them on their WhatsApp statuses for all their contacts to see,” he said.
“Without realising it, this person has embedded digital technology into their business, making customer acquisition more efficient.”
He noted that digital adoption is also transforming agriculture. “Even if you are somebody who is producing yams on the farm, you could use tools that help you understand soil samples, water needs, and rainfall patterns. Agritech solutions can guide farmers so they don’t plant blindly.”
Fesu further highlighted how access to production data, such as seasonal demand and product flow, is helping manufacturers optimise their output and reduce waste.
He emphasised that digital footprints provide critical information for banks to evaluate creditworthiness and tailor financing for SMEs.
“… Businesses that are using technology are easier to work with. Because now you can understand what the businesses are really about, and if you are to provide financing, you have some data to work with. If you sell at Makola and you have data on your wares, stocks, and how often you travel to restock, it makes it easier for us as a bank to provide you with financing,” he explained.
Mr. Fesu urged entrepreneurs and SMEs to prioritise digital adoption in their operations, saying it was now essential for survival and growth.
“So, I will encourage businesses to shift their attention to fusing technology into their businesses and operations,” he added.
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