Digital payments can formalise Ghana’s informal economy, but fraud threatens uptake – Economist

Ghana’s digital finance drive is helping to bring informal-sector workers and unbanked citizens into the formal economy, but Economist and Professor of Finance at the University of Ghana Business School, Godfred Bokpin, warns that fraud could slow that progress.

The future of Ghana’s digital economy depends on whether ordinary users, especially those in the informal sector, feel safe enough to keep using digital payment platforms.

Bokpin was speaking in a yet-to-be-aired documentary, “The Trust Crisis,” ahead of the maiden Digital Economy Forum under the theme, “The Trust Crisis: Why Fraud Is Holding Back Ghana’s Digital Economy.