• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, September 23, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

World Bank Grants $200 Million Loan For Ghana Digital Acceleration Project

Stephen M.Cby Stephen M.C
May 4, 2023
Reading Time: 3 mins read
Stephen M.Cby Stephen M.C
in Finance
0
World Bank Grants $200 Million Loan For Ghana Digital Acceleration Project

World-Bank-logo

Ghana is set to receive a $200 million loan from the World Bank to fund its digital acceleration project.

According to World Bank, the initiative aims to improve internet and broadband access to underserved rural areas, with a particular focus on women, persons with disabilities, and rural communities, adding that; “The project will also seek to promote digital entrepreneurship and digital inclusion across the country.”

The Ghana Digital Acceleration Project has been described by World Bank as a game-changer for the country, which has become one of the leading digital economies in sub-Saharan Africa.

RelatedPosts

Prudential Bank Crowned Customer Happiness Leader as CEO Gyebi Named Transformational Banking Titan

Global Banking Titans Descend on Accra to Shape Ghana’s Road to Economic Transformation

Banks Begin Deducting 5% on Dollar Withdrawals – Here’s Who Will Suffer Most

The project will build on previous investments made by the World Bank, particularly through the ongoing e-Transform Ghana project, to create an enabling environment for digital inclusion and innovation, streamline governance and delivery of public services, and as well facilitate smallholder engagement in data-driven digital agriculture.

The loan comes at a time when Ghana’s digital ecosystem has become one of the best-performing sectors in the country, growing at an average rate of 19 percent annually between 2014 and 2020.

Ghana’s leadership in digital technology has been recognized globally, and the Digital Economy diagnostic conducted in 2020 identified key bottlenecks that need to be removed to further accelerate Ghana’s digital transformation.

The World Bank highlighted the potential for digital transformation in Ghana, which has been reflected in the rise of foreign direct investments.

digi
Ghana Goes Digital

However, the global lender also noted that significant barriers to digital service access exist for Ghana’s lowest-income people, which need to be addressed if Ghana is to perform its role in the comity of nations and empower people to take advantage of the opportunities created by the digital revolution.

“The Ghana Digital Acceleration Project seeks to address these barriers by increasing access to mobile internet and broadband services for 6 million people, encouraging private sector investment in last-mile connectivity of underserved rural areas. By doing so, the project aims to close the regional digital gap and remove barriers to broadband and digital service access.”

World Bank
Digital acceleration
Digital Acceleration and Transformation

Communication Minister Calls For Total Digital Transformation Of Ghana’s Business Environment

In a statement following the approval of the loan, Communications and Digitalization Minister, Mrs. Ursula Owusu-Ekuful highlighted the potential for the project to strengthen the local digital entrepreneurship ecosystem and establish robust digital infrastructure across the length and breadth of the country.

The minister emphasized the importance of supporting start-ups through the Venture Capital Trust Fund and other existing institutions, promoting gender digital inclusion, and ensuring that persons with disabilities acquire the relevant digital skills needed to drive Ghana’s digital transformation.

Ursula Owusu Ekuful
Communications and Digitalization Minister, Mrs. Ursula Owusu-Ekuful

 The loan has been welcomed by stakeholders in the country, who see it as a major boost to Ghana’s digital economy.

 However, there are concerns about the level of debt that Ghana is accumulating, particularly with regard to the country’s ability to service its debt obligations in the long term. Ghana’s debt-to-GDP ratio currently stands at around 80 percent, which is considered high by international standards.

Despite these concerns, the World Bank has expressed confidence in Ghana’s ability to manage its debt obligations and maintain economic stability.

The bank has noted that Ghana has made significant progress in recent years in implementing reforms aimed at strengthening public financial management, reducing fiscal deficits, and improving debt sustainability.

Read also: T-Bills Prioritized As Safe Haven For Investment Amidst Ghana’s Uncertain Economic Climate

Tags: digital acceleration projecte-Transform Ghana projectWorld Bank
Please login to join discussion
Previous Post

Citizens Who Report Illegal Connection Will Get 6 Percent Of The Amount– ECG Boss

Next Post

David Trone Announces Run For U.S Senate Seat

[mc4wp_form id="1264"]

Related Posts

Ghana’s Deputy Minister for Energy and Green Transition
Extractives/Energy

Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference

September 22, 2025
Nigeria’s Economy Records Fastest Growth In Four Years
Africa

Nigeria’s Economy Records Fastest Growth In Four Years

September 22, 2025
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
Europe

Russian Incursion Into Estonia Deemed “Deliberate Provocation”

September 22, 2025
President John Dramani Mahama
General News

President Mahama to Launch “Accra Reset” at 80th UN General Assembly

September 22, 2025
Tiwa Savage on Being Banned, Rejected
Entertainment

Tiwa Savage Expresses Admiration for Nigerian Artist

September 22, 2025
Bismark Nortey
General News

Farmers Sound Alarm on Food Imports Bill as UTAG Blasts Parties Over Galamsey

September 22, 2025
Ghana’s Deputy Minister for Energy and Green Transition
Extractives/Energy

Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference

by Evans Junior OwuSeptember 22, 2025
Nigeria’s Economy Records Fastest Growth In Four Years
Africa

Nigeria’s Economy Records Fastest Growth In Four Years

by Lawrence AnkutseSeptember 22, 2025
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
Europe

Russian Incursion Into Estonia Deemed “Deliberate Provocation”

by Comfort AmpomaaSeptember 22, 2025
President John Dramani Mahama
General News

President Mahama to Launch “Accra Reset” at 80th UN General Assembly

by Evans Junior OwuSeptember 22, 2025
Tiwa Savage on Being Banned, Rejected
Entertainment

Tiwa Savage Expresses Admiration for Nigerian Artist

by Esther Korantemaa OffeiSeptember 22, 2025
Bismark Nortey
General News

Farmers Sound Alarm on Food Imports Bill as UTAG Blasts Parties Over Galamsey

by Silas Kafui AssemSeptember 22, 2025
Ghana’s Deputy Minister for Energy and Green Transition
Nigeria’s Economy Records Fastest Growth In Four Years
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
President John Dramani Mahama
Tiwa Savage on Being Banned, Rejected
Bismark Nortey
[/vc_row_inner]

Recent News

  • Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference
  • Nigeria’s Economy Records Fastest Growth In Four Years
  • Russian Incursion Into Estonia Deemed “Deliberate Provocation”
  • President Mahama to Launch “Accra Reset” at 80th UN General Assembly
  • Tiwa Savage Expresses Admiration for Nigerian Artist
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.