Minister Samuel Nartey George Urges Financial Institutions to Develop Unique Funding Models for Ghana’s Tech Sector

Samuel Nartey George, the Minister of Communication, has called for a radical shift in how financial institutions support the Information and Communication Technology (ICT) sector in Ghana. Speaking at an ICT Roundtable hosted by the Development Bank Ghana (DBG), the Minister argued that current financial models, which are largely designed for traditional sectors like agriculture and manufacturing, are inadequate for the fast-evolving needs of the digital economy. This call comes as the nation intensifies its efforts to become a regional hub for technological innovation and digital services.

During the event, the Minister highlighted that specialized areas such as cybersecurity, data centers, and tech startups require tailored financial instruments rather than one-size-fits-all loan products. He emphasized that the risk profiles and capital structures of ICT businesses differ significantly from those of conventional industries. By failing to adapt, financial institutions risk stifling the growth of a sector that is increasingly becoming the backbone of the national economy. The roundtable served as a vital platform for dialogue between policy makers and financial leaders to bridge this widening funding gap.

The event also marked the official launch of "BoaMi," an innovative AI assistant designed to boost productivity within the agricultural sector. While the Minister advocated for tech-specific funding, the introduction of BoaMi demonstrated the practical intersection of technology and traditional industries. This tool exemplifies the kind of homegrown innovation that requires sustained financial backing to scale effectively and provide real-world solutions for Ghanaian farmers and agribusinesses.

In his concluding remarks, Minister George reaffirmed the government’s commitment to creating a supportive environment for the digital sector through robust regulatory frameworks. He stressed that improved financing options are essential for Ghana to capitalize on the global digital revolution. As the government continues to refine its digital policies, the expectation is that financial institutions will respond by designing creative and flexible funding mechanisms that empower local tech entrepreneurs and protect the nation’s burgeoning digital infrastructure.