- Ghanaian President John Mahama has mentioned Solana is taken into account a driver of fintech development in Africa, and it has low transaction prices and effectivity.
- The Financial institution of Ghana is getting ready rules for the cryptocurrency sector, together with licensing guidelines for digital asset service suppliers.
- Ghana is transferring ahead with the ECEDI undertaking, a part of a broader effort to combine digital finance and blockchain know-how into the financial system.
Ghanaian President John Dramani Mahama emphasizes the significance of Solana in transferring ahead with fintech throughout Africa. He believes that blockchain networks present options for prime transaction prices and have develop into a viable instrument for monetary inclusion and the adoption of cryptocurrency.
The previous Ghanaian president shared his ideas by X social media on how blockchain know-how will reshape the monetary system in Africa. The cheap transaction capabilities from the Solana community facilitate easy cryptocurrency funds, together with monetary investments that unlock companies for folks past the normal monetary sector.
Financial inclusion is not only about Ghana’s want. It’s important to every little thing in Africa. As a consequence of low transaction prices, #Solana might be key to fostering fintech development and enabling cryptocurrency funds and investments throughout the continent.
Keep tuned for extra particulars quickly. pic.twitter.com/urgoidpcnp
– John Dramani Mahama (@jdmaahama) March 15, 2025
Solana presents efficient options for Bitcoin and Ethereum because it presents quicker transaction processing with lowered community fees. Mahama has confirmed that the effectivity of Solana know-how will allow companies and people to realize reasonably priced digital transaction options.
Blockchain as a instrument for financial development
Throughout his presentation, Mahama mentioned digital growth in Africa, harassed that the Fourth Industrial Revolution gives a pathway to keep away from typical growth restrictions. He mentioned blockchain know-how will strengthen public service operations and promote new enterprise outlook throughout Africa whereas additionally resulting in financial inclusiveness.
As Mahama defined on the occasion, he praised Solana for implementing Proof of Historical past (POH). This innovation presents Solana a strong aggressive benefit for African fintech purposes that present higher integration and financial alternatives.
Solana’s proof of reliability mechanism has been praised by Mahama together with demand for digital infrastructure funding.
Whereas giving his approval for Solana Mahama, he known as for added investments centered on web connectivity, together with the event of Fintech’s startup and digital infrastructure. Africa can use blockchain know-how to beat digital inequality whereas creating revolutionary options.
Financial institution of Ghana strikes to manage the crypto trade
The Financial institution of Ghana is working to manage cryptocurrency, however Mahama has expressed his opinion on the problem. In August 2024, the central financial institution started drafting helpful paperwork that guided digital asset service suppliers (VASPs) by licensing procedures and AML insurance policies, whereas defending shopper rights.
The Central Financial institution of Ghana is engaged on implementing the ECEDI undertaking, which represents the Central Financial institution’s Digital Forex (CBDC). The initiative appeared in 2021 as a part of an African initiative, together with the Nigerian Enaila Mission. Authorities give attention to regulatory frameworks to guard buyers from unpredictability out there.
