26th swift african regional conference welcome address dr. ernest addison governor, bank of ghana kempinski hotel, gold coast city in accra, june 18, 2019 your excellency, president nana addo dankwa akufoaddo, honourable ministers, directors and management of swift, ceos of financial institutions, distinguished guests, ladies and gentlemen, 1. it is an honour for me to officially welcome you all to accra and the 26th society for worldwide interbank financial telecommunication ( swift ) africa regional conference. before i proceed any further, let me first say that we are privileged to have h. e. president nana addo dankwa akufoaddo to grace the occasion. your excellency, we very much appreciate taking time off your busy schedule to join us today. 2. let me also thank the management of swift for choosing ghana to host this year ’ s session which has brought together more than 500 professionals from over 45 countries across africa and beyond, including policy makers, industry leaders and fintechs to meet and shape market practices in africa ’ s financial services sector. 3. your excellency, digital innovation is creating unprecedented opportunities for africa to grow its economy, create jobs and transform people ’ s lives. new technologies and business models are opening alternative pathways to economic growth in emerging markets, offering opportunities to reshape our lives and improve economic growth. in this regard, i believe the chosen theme ; ‘ enabling the digital economy ’ is most appropriate and timely. 4. ladies and gentlemen, the government of ghana ’ s commitment to formalize the ghanaian economy through digitisation is laudable. digitisation is a key component of the “ ghana beyond aid agenda ” which is firmly anchored in leveraging technology to promote economic efficiency and inclusiveness for accelerated development and poverty reduction. indeed, the president has shown keen interest and remains committed to building an inclusive modern society. this drive has seen the roll - out of several digital initiatives such as, the digital property addressing system, the national biometric id cards which will be linked to government agencies to help ease identification processes and promote integrity and efficiency in business transactions. 5. also, to enhance the ease of doing business in ghana, the government has introduced several other digital initiatives such as the paperless port operations to ensure smooth operations at the ports, and the e - justice project or the paperless courts, which seeks to automate existing manual filing systems in the court ’ s registry and improve efficiency of the justice

an enabling environment for the on - going digitization processes in the economy. 12. by and large, the swift network provides data, reports and important information for regulators, banks and other financial institutions, as well as policy makers across the globe. for example, the 2018 swift report on ‘ africa payments : insights into african transaction flows ’ indicated an increasing number of clearing payments are being routed through africa, instead of banks outside africa. the data showed that between 2013 and 2017, intra - african clearing payments increased from 10. 2 % to 12. 3 %. swift also highlighted an emerging trend of increasing use of some local african currencies for cross - border payments. this has the potential to moderate foreign exchange risks and lower transaction costs, which is a positive development for the continent. 13. to conclude my brief remarks ladies and gentlemen, let me say that leveraging on digital technology requires the commitment and collaboration of all stakeholders. and, i believe, the august gathering of policy makers, industry leaders and the broad financial community at this 26 th swift conference provides the unique forum for networking, broader consultations, education and discussions, all within a collaborative environment. i wish you a successful three - day conference and hope you will find time to visit some of our nearby tourist attractions. thank you.