Key figures from Ghana’s public and private sectors convened on Wednesday for a high-level roundtable hosted by innovation incubator AyaHQ, under the theme “Unlocking Ghana’s Innovation Economy: Bridging Government, Industry & Startups for Inclusive Growth.”
The event, held at the Marriott Hotel in Accra, brought together government officials, central bank representatives, technology ecosystem leaders, and startup advocates to discuss strategies for developing a more coordinated and inclusive innovation landscape.
Delivering the welcome address, Eric Annan, Founder and CEO of AyaHQ, described the roundtable as “a co-creation,” aimed at aligning stakeholders around a shared vision of economic transformation driven by technology and innovation.
He emphasised the need for policies that support Ghanaian ingenuity and called for structural reforms to help entrepreneurs scale their impact.
“We are gathered here not just to exchange ideas, but to align on something bigger — a shared commitment to unlock Ghana’s economic potential by bridging innovation, policy, and capital,” Mr. Annan said.
“Now, more than ever, we need intentional systems to match their courage with capital, curiosity with opportunity, and ideas with institutional support,” he added.
Mr. Annan referenced the progress made by AyaHQ since its founding in 2021, stating that the organisation has trained more than 300 individuals and incubated over 30 startups that now operate across five continents. According to him, this progress reflects not only the capabilities of young African innovators but also the need for more deliberate efforts to support them through partnerships, investment, and enabling regulation.
Representing the Ministry of Communications, Digital Technology and Innovation, Emmanuel Ofori, Director of Innovation, delivered remarks on behalf of the sector Minister, Hon. Samuel Nartey George.
Mr. Ofori outlined the government’s priorities in digital transformation and skills development, with particular focus on youth empowerment.
“In today’s fast-paced, interconnected global economy, our country’s prosperity hinges not just on our natural resources, but on our ability to harness ideas, mobilise capital, and empower our people, especially the youth, to innovate, create, and compete globally,” Mr. Ofori said.
He highlighted ongoing government initiatives, including the One Million Coders Programme, which aims to equip one million young Ghanaians with coding and digital skills. A pilot phase has already trained 560 participants, split equally between male and female trainees. The Ministry is also collaborating with the University of Ghana to construct a Digital Youth Hub to support innovation in verticals such as AgriTech, FinTech, HealthTech, and EduTech.
Legislative reforms were also addressed. Mr. Ofori pointed to the Ghana Innovation and Startup Act, which is currently under review and proposes the establishment of a National Innovation Fund, tax incentives, and the creation of innovation zones. Other legislative developments include a National Artificial Intelligence Strategy and a proposed Data Harmonisation Act to facilitate secure inter-agency data sharing.
Despite these advances, Mr. Ofori acknowledged the ongoing challenge of limited venture capital inflows into the country. “According to the Partech Africa Report 2023, Ghana attracted less than 2% of total venture capital inflows into Africa,” he stated. He underscored the need for a Dedicated Innovation Fund to provide early-stage financing, de-risk private investment, and support long-term scalability of startups.
He also called for increased cooperation across sectors. “We must also address fragmentation within the innovation ecosystem. Many startups, hubs, and support organisations work in silos, limiting their collective impact and visibility,” he said. He advocated for the formation of consortiums to help stakeholders pool resources and collaborate on larger projects.
First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, spoke on the regulatory outlook for innovation in financial services.
He highlighted the rapid growth of digital financial technologies in Ghana, driven by developments in areas such as blockchain, artificial intelligence, central bank digital currencies, and open banking.
Dr. Mumuni outlined the central bank’s approach to regulation, which seeks to balance innovation with financial system stability. “The Bank has issued an exposure draft on digital assets with a dual objective of fostering innovation in the sector while managing associated risks such as anti-money laundering, cyber-theft, and consumer protection concerns,” he said.
He referenced the Payment Systems and Services Act 2019 (Act 987) as a key piece of legislation that has enabled FinTech development by providing a clear framework for licensing and supervision. The central bank’s regulatory sandbox, launched to support innovators in a controlled environment, was also mentioned as part of the Bank’s broader effort to manage risk while encouraging experimentation.
Several digital initiatives were highlighted by Dr. Mumuni, including the eCedi — Ghana’s Central Bank Digital Currency — as well as tokenisation efforts like Universal Trusted Credentials and Digital Economy Semi-Fungible Tokens. These, he said, are aimed at improving financial inclusion and facilitating cross-border trade for small and medium enterprises.
To enhance regulatory oversight, Dr. Mumuni noted the deployment of tools such as the Online Regulatory, Analytics and Surveillance System (ORASS), which uses integrated business intelligence tools to assess trends and support data-driven policymaking. He also cited the Financial Industry Command Security Operations Centre (FICSOC), established to detect and respond to cybersecurity threats across the financial sector.
“The Bank will continuously engage industry players, startups, and other ecosystem participants to push the frontiers of Ghana’s digital finance agenda,” Dr. Mumuni concluded.
Across the board, speakers at the roundtable acknowledged that Ghana’s innovation ecosystem has seen measurable progress but requires greater coordination, investment, and policy alignment. Calls for more strategic partnerships between government, startups, financial institutions, and academia were a common theme throughout the discussions.
