BoG Praises IT Consortium For The Country’s Digital Transformation Agenda
The Bank of Ghana has commended the leading Ghanaian tech company, IT Consortium for completely supporting the digital transformation agenda of the Ghanaian financial services industry with digital solutions relevant to the developmental needs of the country.
A stellar example is the chango crowdfunding product, the first of its kind by a licensed institution in Ghana, introduced to improve on the traditional “susu” model for raising funds among a group of persons.
Speaking at the 20th Anniversary launch of ITC, First Deputy Governor, Dr. Maxwell Opoku-Afari said ITC’s contribution to the “conceptualization, designing and implementation of the flagship Ghana.Gov platform which is at the core of the digital economy project is laudable.”
Ghana.gov is the yet-to-be-launched government online platform through which Ghanaians can apply for passport, birth and death certificates, driver’s license, register companies, pay utility bills, and access many other services from state institutions, and pay directly online.
It was conceptualized, designed, and built by ITC and two other local fintech, Hubtel and ExpressPay.
Dr. Opoku-Afari stressed that despite somewhat the strange environment for Fintechs at the time, ITC showed unusual gratitude for BoG’s direction of financial sector development, and they have competently supported the digital transformation agenda of the Ghanaian financial services industry with digital solutions important to Ghana’s developmental needs.
“A stellar example is the chango crowdfunding product, the first of its kind by a licensed institution in Ghana, introduced to improve on the traditional “susu” model for raising funds among a group of persons,” he noted.
He recognized IT Consortium’s dedication to the norms of the financial services industry over the years has been commendable, adding that it is no wonder then, that the company was one of the first few FinTechs to be licensed by the Bank of Ghana as an improved payment service provider.
The First Deputy Governor also praised the wholly-owned Ghanaian company staffed by persons trained in Ghana to have shown such fidelity to the digital transformation agenda of the Ghanaian economy.
He vouched for the relevance of the solutions from ITC, saying that “Indeed, the successes of the company in the Ghanaian digital financial services ecosystem signifies the capacity of the Ghanaian to deal with the challenges confronting us as a country.”
Dr. Opoku-Afari however encouraged ITC, as a pacesetter, to be a shining example and a beacon of hope to the many up and coming Ghanaian youth desirous of making a career in the FinTech industry.