Absa Bank Ghana has emphasized the importance of digital integration for business growth, financial inclusion, and market access. Speaking during Week Four of the Citi Breakfast Show focused on Ghana’s digital economy, Anthony Fesu, Lead Architect at the bank, stated that businesses leveraging technology are not only becoming more transparent and efficient but are also more appealing to banks and investors.
Fesu illustrated how even small businesses in informal sectors, such as traders at Makola Market, can benefit from digital tools. By simply posting products on WhatsApp statuses, these businesses increase visibility and streamline customer acquisition. This use of accessible platforms is a simple but powerful example of how digital tools are transforming everyday commerce.
In agriculture, digital transformation is becoming increasingly relevant. Fesu explained how farmers now have access to agritech tools that provide insights into soil health, water needs, and rainfall trends. These tools guide farmers in making informed planting decisions, boosting productivity, and reducing resource waste.
Manufacturers are also using digital tools to collect and analyze production data, helping them align output with seasonal demand and minimize losses. Furthermore, digital footprints provide banks with critical insights into business operations. With this data, financial institutions can assess creditworthiness more accurately and design suitable financing options for small and medium-sized enterprises (SMEs).
Fesu concluded by urging entrepreneurs and SMEs to prioritize digital adoption. He stressed that integrating technology into business operations is no longer optional but necessary for competitiveness, survival, and access to funding. Businesses that effectively digitize are easier for banks to assess and support, leading to enhanced financial inclusion and long-term growth.
Source: Citi newsroom