In a digital-first world where innovation continues to redefine commerce, Absa Bank Ghana is making a compelling case for the adoption of technology as a lifeline for business efficiency and financial inclusion.
According to Anthony Fesu, Lead Architect at Absa Bank Ghana, businesses that embrace digital tools are becoming more transparent, productive, and attractive to banks and investors alike.
Mr. Fesu, speaking on Ghana’s rapidly evolving digital economy, highlighted how the integration of technology is radically transforming how businesses operate. “If you see someone selling shoes at Makola, the person today has the opportunity to put those shoes or wear them on their WhatsApp statuses for all their contacts to see,” he remarked. What was once a purely face-to-face transaction has now expanded into a virtual space, allowing small-scale traders to reach broader audiences without the need for large capital.
This informal, yet effective, adoption of digital tools is fostering a new level of customer engagement. “Without realising it,” Fesu added, “this person has embedded digital technology into their business, making customer acquisition more efficient.” For many small and micro-enterprises, these changes are game-changers—reducing the reliance on physical marketplaces and making room for virtual ones.
From Farmlands to Fintech: Agriculture Embraces Digital Tools
Beyond urban traders and service providers, digitalisation is also transforming Ghana’s agricultural landscape. “Even if you are somebody who is producing yams on the farm, you could use tools that help you understand soil samples, water needs, and rainfall patterns,” Fesu explained. Agritech innovations are equipping farmers with the insight needed to make informed decisions, thereby increasing yield and minimising waste.
These solutions, he said, are empowering farmers to move away from guesswork and towards data-driven cultivation. By embracing digital platforms, rural agricultural communities can now forecast better, plant smarter, and sell more strategically—connecting with markets that were once out of reach.
One of the critical advantages of digital adoption, according to Fesu, is the trail of data it leaves behind—what he calls a “digital footprint.” For banks like Absa, such data is essential in evaluating the creditworthiness of a business. “Businesses that are using technology are easier to work with,” he stated. “Now you can understand what the businesses are really about, and if you are to provide financing, you have some data to work with.”
Fesu noted that when SMEs or even informal traders keep digital records of their stock levels, sales, restocking patterns, and cash flow, they open themselves up to a world of financing opportunities that were traditionally out of reach. In a data-scarce environment, digital tools fill the gap by offering measurable metrics of a business’s performance, giving banks a reason to invest.
“For instance, if you sell at Makola and you have data on your wares, stocks, and how often you travel to restock, it makes it easier for us as a bank to provide you with financing,” he pointed out.
SMEs Urged to Prioritise Digital Adoption
Given these developments, Mr. Fesu made a strong appeal to entrepreneurs and small businesses to prioritise digital integration in their daily operations. “So, I will encourage businesses to shift their attention to fusing technology into their businesses and operations,” he said, underscoring that digital tools are no longer optional, but necessary.
For SMEs navigating a competitive marketplace and limited access to capital, digitalisation presents both a survival strategy and a growth engine. It not only connects businesses to customers and markets but also to financial institutions ready to offer tailored support based on verifiable data.
Absa Bank Ghana’s message is clear: the future of commerce, banking, and entrepreneurship lies in technology. From the shoe seller in Makola to the yam farmer in the hinterlands, every business stands to gain from the adoption of digital solutions. More than just a trend, digital integration is becoming the defining factor for accessing finance, expanding market reach, and ensuring sustainable growth.
READ ALSO: Africa Seeks Equal Voice In U.S. Partnership
