Communication Minister Samuel Nartey George Calls for Specialized ICT Financing Models at DBG Roundtable

Ghana’s Minister of Communication, Samuel Nartey George, has called for a radical shift in how financial institutions approach the technology sector, arguing that traditional financing models are no longer sufficient. Speaking at an ICT Roundtable hosted by the Development Bank Ghana (DBG), the Minister emphasized that the funding structures currently utilized for the agriculture and manufacturing industries do not meet the unique, often intangible requirements of information and communication technology (ICT) businesses. He urged banks to evolve their credit assessment processes to better support the high-growth potential of the digital economy.

During his address, the Minister highlighted specific areas within the tech landscape that require urgent and specialized financial instruments, including data center infrastructure, cybersecurity operations, and the scaling of tech startups. He pointed out that while traditional sectors rely on physical assets as collateral, the value of tech firms often resides in intellectual property and digital innovation. By designing unique funding models, financial institutions can help bridge the gap that currently prevents many Ghanaian innovators from accessing the capital needed to compete on a global scale.

In a practical demonstration of the sector's potential, the event also saw the official launch of "BoaMi," an artificial intelligence assistant designed to improve agricultural productivity. This initiative illustrates the cross-cutting benefits of technology, showing how digital tools can modernize and optimize traditional sectors like farming. The Minister noted that such innovations are essential for national development but require a stable and supportive financial ecosystem to remain sustainable and reach their full potential.

Concluding his remarks, Minister Samuel Nartey George reiterated the government’s commitment to establishing robust regulatory frameworks that provide security for both investors and technology firms. Under the administration of President John Mahama, the Ministry aims to foster a collaborative environment where the Development Bank Ghana and private lenders can safely expand their portfolios into the digital space. This strategic alignment between policy and finance is expected to serve as a catalyst for Ghana’s broader digital transformation goals.