Amend fintech laws to boost local content – Expert

The Chief Operating Officer of Mobex Africa, Mr. Alain Gbeasor, has called for the amendment of fintech laws to enable more local content.

He said there are a significant number of Ghanaian firms in the fintech space who would have loved to do more, but due to unfavourable competition from foreign companies, they are unable to do so.

He therefore called on the Bank of Ghana (BoG) and the Association of Rural Banks (ARB) to give them the chance to do business with them.

“We have Ghanaians in the space who would have loved to do more, but we have unfavourable competition, and so we want to see a local content bill that is passed on, and the former president himself has alluded to that.”

“We are talking about the BOG and other rural banks also enabling us to work with them because the fintech space is where we all will benefit from, where my mother in the village will be able to send money and receive money, and where the e-commerce people will be able to supply her with whatever products she wants at any time she wants,” the COO said.

Mr. Gbeasor disclosed this to the media after former President and 2024 NDC flagbearer John Mahama held discussions with some captains in the fintech industry last Friday in Accra.