Report

Ghana Digital Economy Diagnostic

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collection.link.96
https://openknowledge.worldbank.org/handle/10986/2204
collection.name.96
Other Infrastructure Study
dc.contributor.author
World Bank Group
dc.date.accessioned
2020-08-18T18:33:08Z
dc.date.available
2020-08-18T18:33:08Z
dc.date.issued
2019
dc.date.lastModified
2021-05-25T09:53:51Z
dc.description.abstract
Universal 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.identifier
http://documents.worldbank.org/curated/en/523231597379719030/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report
dc.identifier.uri
http://hdl.handle.net/10986/34366
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
DIGITAL ECONOMY
dc.subject
DIGITAL INFRASTRUCTURE
dc.subject
SMALL AND MEDIUM-SIZED ENTERPRISES
dc.subject
DIGITAL PLATFORM
dc.subject
DIGITAL FINANCIAL SERVICES
dc.subject
ENTREPRENEURSHIP
dc.title
Ghana Digital Economy Diagnostic
en
dc.type
Report
en
okr.crossref.title
Ghana Digital Economy Diagnostic
okr.date.disclosure
2020-08-14
okr.doctype
Economic & Sector Work
okr.doctype
Economic & Sector Work :: Other Infrastructure Study
okr.docurl
http://documents.worldbank.org/curated/en/523231597379719030/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report
okr.googlescholar.linkpresent
yes
okr.identifier.doi
10.1596/34366
okr.identifier.externaldocumentum
090224b087ca1544_1_0
okr.identifier.internaldocumentum
32325448
okr.identifier.report
151790
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/523231597379719030/pdf/Ghana-Digital-Economy-Diagnostic-Stock-Taking-Report.pdf
en
okr.region.administrative
Africa
okr.region.country
Ghana
okr.topic
Information and Communication Technologies :: ICT Economics
okr.topic
Information and Communication Technologies :: ICT Policy and Strategies
okr.topic
Infrastructure Economics and Finance :: Infrastructure Economics
okr.topic
Private Sector Development :: Enterprise Development & Reform
okr.topic
Private Sector Development :: Private Sector Economics
okr.unit
EFI-AFR1-FCI-Finance-2 (EAEF2)

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