The Chief Executive Officer of IT Consortium, Romeo Bugyei, has called on government to help the private sector to create robust infrastructure in the digital economy.
Mr Bugyei revealed that aside from considering the financial side, it will be prudent to also look at the infrastructural side, which he described as very important.
Speaking on the theme: ‘Re-imagining the Digital Economy’, he explained that it “will help if government helps the private sector, especially those involved in backbone infrastructure”, emphasizing that systems such as mobile money works because there is infrastructure in place but which needs to be beefed up.
“As government tries to expand the use of digital economy, we should also see how we can help with the expansion of private-sector infrastructure, and also encourage a lot of local companies in the digitization of government services”.
Romeo Bugyei
The CEO of IT Consortium equally urged the banking sector to invest more in the digital economy and data collection.
Citing his outfit, Mr Bugyei expressed that IT Consortium, every year, brings in a number of students and give them access to the Consortium’s infrastructure to be able to continue to build things.
“I am hoping that the banks will not only be looking at the financial side but the other side of the economy and data. I am hoping that as banks set up innovation hubs, they can support young people. They could keep an eye on innovations from universities, thereby investing in systems to create jobs.”
Romeo Bugyei
Subsequently, Mr Bugyei commended government’s Ghana Card initiative and encouraged banks to take advantage of it. He highlighted that it will also help the banks in lending and bring under control fraudulent activities.
“One thing that government is championing and I’m hoping we give it more push is the Ghana card. The idea of issuing Ghana cards even to newborn babies will ensure that we have records of all citizens… We are hoping that as government improves the backends of its systems, it will help to create software infrastructure.”
Romeo Bugyei
Innovation is crucial to businesses
On his part, the Chief Executive Officer of MTN Mobile Money Company Limited, Eli Hini, urged businesses to adapt to changing trends in technology in their operations.
He indicated that the success of businesses is highly dependent on their ability to incorporate new forms of technology in their operations.
“There will be winners and gainers in every situation, and what happens is how businesses adapt to changing trends [of technology] … Once you do not get on, you lose out.”
Eli Hini
Mr. Hini recounted that MTN’s decision to digitize money, as a case in point, in its transactions through the introduction of mobile money has yielded benefits for the company. He opined that developing strategies are crucial to positioning businesses as “market leaders.”
“When we started mobile money, we started not because we were ready. It was what was happening, and we had to get along with it.”
Eli Hini
Mr Hini emphasized that businesses must adopt the three strategies of innovation, investment and channels into their operations.
“Innovation is important. Investment is equally important. If you do not invest, you will not get the technology and customer interest”.
Eli Hini
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