Publication:
Ghana Digital Economy Diagnostic

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2020-08-18T18:33:08Z
dc.date.available2020-08-18T18:33:08Z
dc.date.issued2019
dc.description.abstractUniversal adoption and effective application of digital technologies are expected to characterize economies of the future, shaping their ability to succeed in the global marketplace and offer a better quality of life for their citizens. Disruptive technologies are already altering traditional business models and pathways to development, yielding significant gains, increased convenience, as well as supporting better access to services for consumers. In 2016, the digital economy was worth an estimated 11.5 trillion dollars worldwide, equivalent to 15.5 percent of global GDP. It is forecast to reach 25 percent in less than a decade, far outpacing the growth of the ‘traditional’ economy (Huawei and Oxford Economics 2016). Mobile money is driving financial inclusion, particularly in Sub-Saharan Africa, with the number of accounts doubling to 21 percent between 2014-17. African e-commerce is also rapidly growing, at an estimated annual rate of 40 percent. Over the past five years, there has been a tenfold increase across the region in the supply of new intermediaries such as incubators, accelerators, and technology hubs, amongst others, numbering more than 400 across Africa today. The digital economy in Africa is expected to grow to over 300 billion dollars by 2025 (McKinsey 2013). Ghana has made substantial progress on financial inclusion, due in large part to growth in DFS. According to the World Bank’s Global Findex, the share of Ghanaian adults (over 15 years of age) with a formal financial account increased by 42 percent between 2014 and 2015. As a result, nearly 6 in 10 adults had formal access in 2017. With mobile account ownership increasing by nearly 200 percent between 2014 and 2017, mobile money has become the preferred payment alternative to cash when measured in terms of transaction volumes. In May 2018, the Bank of Ghana mandated that all mobile money providers connect to GHLink, with full interoperability between mobile money providers and banks introduced in December 2018.en
dc.identifierhttp://documents.worldbank.org/curated/en/523231597379719030/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report
dc.identifier.doi10.1596/34366
dc.identifier.urihttps://hdl.handle.net/10986/34366
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDIGITAL ECONOMY
dc.subjectDIGITAL INFRASTRUCTURE
dc.subjectSMALL AND MEDIUM-SIZED ENTERPRISES
dc.subjectDIGITAL PLATFORM
dc.subjectDIGITAL FINANCIAL SERVICES
dc.subjectENTREPRENEURSHIP
dc.titleGhana Digital Economy Diagnosticen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleGhana Digital Economy Diagnostic
okr.date.disclosure2020-08-14
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Infrastructure Study
okr.docurlhttp://documents.worldbank.org/curated/en/523231597379719030/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report
okr.guid523231597379719030
okr.identifier.doi10.1596/34366
okr.identifier.externaldocumentum090224b087ca1544_1_0
okr.identifier.internaldocumentum32325448
okr.identifier.report151790
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/523231597379719030/pdf/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report.pdfen
okr.region.administrativeAfrica
okr.region.countryGhana
okr.topicInformation and Communication Technologies::ICT Economics
okr.topicInformation and Communication Technologies::ICT Policy and Strategies
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicPrivate Sector Development::Enterprise Development & Reform
okr.topicPrivate Sector Development::Private Sector Economics
okr.unitEFI-AFR1-FCI-Finance-2 (EAEF2)
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