Ghana and Singapore are joining forces to pioneer Africa’s first “finternet” — a transformative digital financial infrastructure that aims to connect governments, businesses, and communities through transparent and self-sustaining technology. The project, developed through a collaboration between Ghana’s District Assemblies Common Fund (DACF) and Singapore’s Embed Financial Group Holdings (EFGH), seeks to build a network that functions much like the internet, seamlessly integrating payments, credit, and insurance across districts in Ghana.
This groundbreaking initiative is designed to empower all districts in Ghana to efficiently manage funds and public services while generating sustainable revenue streams to support national development. By introducing a digital infrastructure rooted in transparency and accountability, the project represents a significant leap toward strengthening financial inclusion and public sector efficiency in the country.
The partnership also highlights a strong example of South–South collaboration, in which countries from the Global South exchange knowledge and technological innovation to advance shared progress. DACF will retain oversight of all projects under this initiative, ensuring alignment with Ghana’s national priorities and maintaining full accountability to the government. The goal is to create a replicable model for digital financial ecosystems that can be adopted across Africa.
Under the joint venture, DACF and EFGH will co-invest in income-generating projects that drive local entrepreneurship and public service improvement. Each project will be structured as a public–private partnership, fostering local job creation, equitable revenue sharing, and reinvestment into community development. The collaboration further aligns with Ghana’s decentralisation policy, equipping local assemblies with digital tools to improve revenue mobilisation, enhance transparency, and expand financial access in underserved areas.
Harry Yamsom, Administrator of the DACF, noted that the partnership marks a major milestone in Ghana’s effort to strengthen fund mobilisation and decentralisation. Dennis Ng, Executive Chairman of EFGH, echoed this sentiment, calling the collaboration a defining moment that proves how innovation and trust can unite to create shared prosperity between Africa and Asia.
