The Managing Director of the Agricultural Development Bank (ADB) PLC, Alhassan Yakubu-Tali has emphasised the need to speed up financial inclusion through digitalisation.
This, he said, will help bring financial services to people who don’t have access to banks.
He pointed out that people without bank accounts should be seen as potential customers. By developing strong digital infrastructure, these people can be turned into regular customers.
Speaking at the Ghana Financial Inclusion Conference in Accra from June 26-27, themed “Accelerating Financial Inclusion in a Digital Era,” Alhaji Yakubu-Tali noted that despite Ghana’s progress in financial inclusion, more efforts are needed to enhance it through digital means.
“Just like roads and bridges connect people and markets, digitalisation connects individuals and those without bank access to the financial system, bridging a crucial gap,” he said.
Alhassan Yakubu-Tali, highlighted the relevance of the conference theme, noting that “digital innovation is fundamentally reshaping the financial landscape and creating unprecedented opportunities for sustainable inclusion and growth.”
He praised the progress Ghana has made in bringing many unbanked and underbanked individuals into the formal banking system.
He credited this success to supportive policies and regulations, advancements in digital payment infrastructure, and partnerships between banks and Fintech companies.
Alhaji Yakubu-Tali commended the government and the Ministry of Finance for initiatives like the Digital Financial Services Policy (DFS) and Cash-lite Road Map.
These initiatives have increased financial inclusion, improved the digitalization of financial institutions, and reinforced the government’s commitment to advancing financial inclusion.
He stated that the digital era offers a unique chance for banks and financial institutions to enhance financial inclusion by investing in digital infrastructure and enforcing policies and regulations.
Alhaji Yakubu-Tali mentioned that ADB has been a key player in the national financial inclusion agenda through its digital services, including mobile and internet banking, and contactless payments.
He also said that conferences like the 2024 Ghana Financial Inclusion Conference inspire financial institutions like ADB to use digital platforms to further the financial inclusion agenda.
The 2024 two-day Ghana Financial Inclusion Conference aims to discuss strategies to use technology to improve financial inclusion and to develop policies and regulations to promote financial inclusion.
Banks and other financial institutions are key participants in the conference.
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