Stephen Blewett, Chief Executive Officer of MTN Ghana, highlighted that Africa still trails far behind the rest of the world in mobile adoption and innovation, despite progress in digital technology across the continent.
Blewett pointed out that challenges such as limited infrastructure coverage, the high cost of data and smartphones, and a lack of digital skills training are major barriers preventing widespread internet access, particularly among vulnerable groups like women.
He made these remarks during the ongoing 3i Africa Summit at the Accra International Conference Center. The summit, held under the theme ‘Unleashing Africa’s FinTech and Digital Economic Potential,’ aims to promote collaboration among various stakeholders to drive innovation throughout Africa.
The 3i Africa Summit, a joint effort by the Bank of Ghana, the Development Bank of Ghana, and the Monetary Authority of Singapore, aims to showcase and stimulate Africa’s FinTech and digital potential. This global initiative is designed to reshape Africa’s economic outlook by promoting sustainable, long-term capital investment.
During his speech at the summit, Mr. Stephen Blewett emphasized the critical role of Africa’s fintech ecosystem in spearheading a digital transformation.
“Africa’s fintech ecosystem is the engine that will drive its digital revolution and economic development in the coming years. Fintech can stimulate local economies and drive progress across the continent in several ways – financial inclusion, innovation and entrepreneurship, job creation, cross-border transactions and payments, digital identity and security, agriculture and rural development, government services, investment, and funding, as well as digital and financial literacy.
“The success of services like MTN’s Mobile Money and Vodafone and Safaricom’s M-pesa provide sufficient evidence of the ability of fintech to revolutionize business on the continent and provide millions of people with access to essential financial services.”
Stephen Blewett
Stephen stated that despite these gains, “Africa lags far behind the world in mobile adoption and innovation.”
Constraints such as low infrastructure coverage, affordability of data and smartphones, and lack of digital skills training continue to inhibit access to the Internet among vulnerable groups, especially women.
He emphasized the need to remove these bottlenecks and close the usage gap by improving data coverage, lowering the cost of data, and data-enabled devices, especially in rural and low-income areas, and enhancing digital literacy.
Sustainability for Africa’s Future
Stephen Blewett also addressed the topic of sustainability during the summit, urging business leaders and policymakers to prioritize environmental, social, and governance (ESG) practices in their commercial endeavors. He stressed the importance of integrating these practices into business strategies to promote sustainable development and responsible business conduct.
“We must not lose sight of the impact that our actions have on our environment and society and strive towards creating shared value in business outcomes. We must progressively reduce our carbon footprints by investing in renewable energy, and other energy-efficient tools and technologies that lead to efficiency.
“We must take up the challenge of placing Environment, Social, and Governance (ESG) at the heart of our commercial activities and support the achievement of the UN’s Sustainable Development Goals. I believe that together, we can shape an Africa that not only thrives in the digital age but also serves as a shining example of inclusive and sustainable development.”
Stephen Blewett
Other speakers from MTN are Shaibu Haruna, CEO of Mobile Money Limited Ghana, and Eli Hini, CEO of MoMo PSB, Nigeria. The rest are Cedric Nguessan, MTN Group Finco Payments and E-Commerce, Angela Mensah-Poku, Chief Enterprise Business Officer MTN Ghana, and Dario Bianchi, Chief Digital Officer, MTN Ghana.
Stephen Blewett’s remarks at the 3i Africa Summit underscore Africa’s digital potential and the urgent need to overcome barriers for inclusive innovation and sustainable progress across the continent.
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