Ken Ofori-Atta, the Minister of Finance, says technology has revolutionised Africa’s economy, contributing 180 billion dollars a year.

The African continent, he said, must leverage the digital revolution for transformation by enhancing efficiency in the financial sector.

This is in a speech read on behalf of the Minister at a panel discussion in this year’s Annual New Year School and Conference in Accra.

The Conference theme is: “Nurturing Resilience: Adopting Technology and Embracing Humanism for Sustainable Development”.

It is organised by the School of Continuing and Distance Education of the University of Ghana in collaboration with the Ministry of Communication and Digitization and other stakeholders.

The Minister said the government was working to upscale access to technology and ensure that Ghanaians had the full benefits of digital technology.

On global economic challenges, he said a new era of reform, driven by the necessities and opportunities of the technological revolution, served as a tool for recovery and a cornerstone for sustainable growth.

Sustainable growth in a post-pandemic world would be contingent upon the presence of digital technologies that created employment and opened new opportunities.

Research shows an estimated 50 per cent internet penetration rate across the country, with 18.5 million Ghanaians using the internet.

The 2024 Budget Statement forecasts that the ICT sector will grow by an average of four per cent over the medium term (2024-2027).

The Minister said the government launched initiatives such as the Revenue Assurance and Compliance Enforcement Initiative to reduce tax noncompliance and revenue leakages.

“We have also supported the rollout of Ghana.gov, the paperless part, the national ID, digital property addresses, and land records digitization, among others,” he said.

Ofori-Atta said the government’s task in the medium term was to stay on the path of macro-fiscal stability and achieve sustainable growth.

He said the government would continue to ensure that the transition to a digital economy was inclusive, ensuring that vulnerable groups were not left behind.

Dr Ken Ashigbey, the Chief Executive Officer of the Ghana Chamber of Telecommunication, said the country must change its policy direction and push for e-governance to ensure transparency and accountability.

He said the country needed to break the technology gap.

Professor Katrin Niglas, Vice Rector, Tallinn University, Estonia, encouraged all to embrace technology to facilitate growth.