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Sunday, March 16, 2025

Ghana President John Mahama Backs Solana for Africa’s Fintech Future

Ghanaian President John Dramani Mahama has endorsed Solana, a high-speed blockchain, as a key enabler of fintech growth and cryptocurrency adoption across Africa.

Speaking at the African Prosperity Dialogues Summit in Accra, President Mahama emphasized how blockchain technology—particularly Solana’s high-speed and low-cost transaction capabilities—could reshape financial services on the continent.

What he said

Financial inclusion isn’t just a need for Ghana—it’s essential for all of Africa. With its low transaction costs, Solana could be the key to driving fintech growth and enabling cryptocurrency payments & investments across the continent“, he wrote on his X account.

Why it matters

  • Mahama’s support signals growing political interest in blockchain as a tool for economic transformation.
  • Solana’s fast, low-cost transactions make it an attractive option for digital payments in emerging markets.
  • Ghana’s central bank is working on regulations for crypto while also developing its own digital currency, the eCedi.

What’s next

  • Ghana’s crypto regulations, currently in draft form, will determine how platforms like Solana operate in the country.
  • The Bank of Ghana continues to warn about crypto volatility, urging careful investment.
  • Whether Mahama’s endorsement leads to policy changes or adoption efforts remains to be seen.

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