The Second Deputy Governor of the Bank of Ghana, Matilda Asante -Asiedu has emphasised the need for robust digital infrastructure, to sustain Africa’s financial inclusion gains and unlock investment into the digital economy.
Speaking at the final day of the 3i Africa Summit 2026, she said current conversations around innovation, investment and impact must be complemented by a stronger focus on systems that enable scale.
“Innovation without infrastructure cannot and does not scale. Investment without systems do not reach people, and impact without inclusion will not last,” she stated.
Using Ghana as a case study, the Deputy Governor highlighted the success of USSD-based mobile money services, which have significantly expanded access to financial services.
“In Ghana today, anyone and everyone can send money from a phone with no internet connection, no smartphone, no app, no data plan, just a basic phone and a USSD code,” she said.
She noted that this approach has been more effective in driving inclusion than more advanced digital solutions, particularly because it reflects local realities.
Citing the World Bank Global Findex Report, she added: “Ghana is now at 81% of financial inclusion, and that is possible because of that USSD feature.”
The Deputy Governor stressed that Africa’s digital future must be built on systems tailored to its unique context.
“The system was built for the reality that we have, for the people who we serve, because the infrastructure also already existed,” she explained.
She outlined key elements behind Ghana’s digital payments growth, including leveraging basic mobile infrastructure, integrating agent networks, and enabling interoperability.
On agent networks, she underscored their central role: “The woman at the roadside… who handles your cash in and your cash out is not some side conversation, that is central to the inclusion strategy.”
Turning to investment, she said attracting capital requires more than policy ambition, stressing the importance of trust and system reliability.
“Capital flows where systems work, where payment rules are reliable, and where regulatory frameworks are clear and trust exists,” she noted.
She called for the development of trusted payment systems, digital public infrastructure, and coordinated regulatory frameworks to support business expansion across borders.
The Deputy Governor outlined three critical priorities for policymakers: building infrastructure, harmonising regulations, and ensuring inclusion remains central to digital transformation.
She highlighted the need for seamless cross-border transactions, particularly under the African Continental Free Trade Area.
“There’s nothing more frustrating than trying to transact and then being caught up in the middle not being able to complete that kind of transaction,” she said.
She also warned against exclusion in digital systems: “If digital progress only serves those who are already visible and easy to serve, then we’re simply digitising advantage and not digitising inclusion.”
Looking ahead, the Deputy Governor said Africa has already demonstrated its capacity to lead in financial innovation but must now focus on building integrated and trusted systems.
“The truest test for us then is whether our systems would work better for the market trader, the small business owner, the rural user, that farmer, the woman-led enterprise,” she said.
She concluded that Africa’s digital future will depend on strengthening system-wide architecture that enables scale, builds trust, and ensures no one is left behind.
