Prof. Peter Quartey presents a copy of the report to Ing. Dr Kenneth Ashigbey, CEO of the Ghana Chamber of Telecommunications and the Electronic Money Issuers Chamber of Ghana, and a panellist at the event, supported by Prof. Francis Annan, lead researcher and ReFinD affiliate.
ReFinD, a flagship research initiative of ISSER, has launched Ghana’s first-ever census on digital financial services (DFS) adoption among businesses. The milestone report – Firms and Digital Payments: Evidence from Censal Microdata – was produced in collaboration with the Ghana Statistical Service (GSS) and presents an in-depth assessment of DFS adoption among more than 1.9 million firms across the country.
Held under the theme Advancing Digital Payments for Businesses in Ghana, the launch event brought together stakeholders from fintech companies, regulatory bodies, industry associations, academia, policymaking institutions, the media, and student groups. This vibrant mix of participants provided a platform for dynamic discussions on the report’s findings and their relevance to Ghana’s digitisation and financial inclusion efforts.
“A resource for refining policy” – Bank of Ghana
Delivering the keynote address on behalf of the First Deputy Governor of the Bank of Ghana, Mr Kwame Oppong, Director of Fintech and Innovation, commended the collaborative nature of the report and its value to policy development.
“This kind of collaboration is exactly what we need to advance policy and make practical impact,” he said.
While acknowledging Ghana’s progress in expanding financial inclusion, he noted that challenges remain, particularly in extending access to micro, small and medium enterprises (MSMEs) and closing the gender gap. “Reports like this are essential to guiding resource allocation and refining our approach to digital finance policy,” he added.
Presenting key findings from the report, Prof. Francis Annan underscores the need to address knowledge gaps and fraud concerns to boost digital payment adoption among firms.
“A significant milestone” – ISSER Director
Professor Peter Quartey, Director of ISSER and Executive Director of ReFinD, described the launch as “a significant milestone not only for ISSER and ReFinD but also for Ghana’s journey toward a more inclusive, efficient, and cash-light economy.”
He lauded the diversity of the audience at the launch event and reiterated the commitment of ISSER and ReFinD to fostering meaningful engagement that supports evidence-based policymaking.
“We believe in undertaking cutting-edge research that informs policy,” he said. “And we believe in the three I’s – influence, inform, and inspire – which drive our collective determination to make digital finance work for all Ghanaians.”
The report was launched on 8 April 2025 at ISSER and is accompanied by a policy brief and a fact sheet.
Read and discover more on the ReFinD website, and the University of Ghana website.
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