The newly-elected Ghanaian President, John Dramani Mahama, has endorsed Solana, a high-speed blockchain, as a catalyst for fintech growth and cryptocurrency adoption across Africa.
The President of Ghana🇬🇭 @JDMahama was elected in December 2024 pic.twitter.com/T8tm0z83ui
— BitKE (@BitcoinKE) March 17, 2025
Speaking at the African Prosperity Dialogues Summit in Accra, Ghana, Maham highlighted how blockchain technology – especially Solana’s rapid and low-cost transactions – could revolutionize financial services on the continent.
“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.
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.
Stay tuned for more details soon. pic.twitter.com/URgOiDpCNP
— John Dramani Mahama (@JDMahama) March 15, 2025
According to the new President, who came to power in December 2024, traditional banking infrastructures have fallen short in serving millions, making decentralized finance (DeFi) a vital alternative.
Mahama’s endorsement comes as African nations deepen their engagement with cryptocurrencies. Countries like Nigeria, Kenya, and South Africa are at the forefront of crypto adoption, leveraging digital assets for remittances, peer-to-peer payments, and digital savings.
On its part, Ghana has been relatively quiet about crypto regulation since December 2023 when the local Securities Exchange Commission (SEC) revealed it had commissioned a task force to assist the commission acquire requisite capacity in that space.
🇬🇭 REGULATION | SEC #Ghana to Commission a Taskforce to ‘Assist the Commission with Requisite Capacity’ for Digital Assets Regulation
“We are in the era of digital assets – and taking a cue from IOSCO who are encouraging its members to incorporate frameworks in their respective… pic.twitter.com/5xPeh8sDJD
— BitKE (@BitcoinKE) December 19, 2023
Nonetheless, this blockchain endorsement by Mahama, who was inaugurated as President on January 25 2025 after winning the Presidential Election on December 7 2024, is welcome given his close rival, Vice-President Mahamadu Bawumia, had pledged to utilize blockchain to power all governmental operations.
🇬🇭POLITICS | Ghana To Become Africa’s First Government Powered by Blockchain, Says Vice President Bawumia
Bawumia, who is the ruling party’s candidate for President on December 7 2024, emphasized the importance of anti-corruption agencies throughout Africa investing… pic.twitter.com/QGVdnl3zKD
— BitKE (@BitcoinKE) May 13, 2024
Mahama called on African governments to develop forward-thinking regulations that foster innovation while ensuring consumer protection.
“We must embrace blockchain technology, not fear it. A well-regulated crypto ecosystem can unlock massive economic potential for Africa,” he added.
President Mahama urged public and private sector stakeholders to work together on blockchain-driven solutions to boost economic growth. He emphasized the need for investment in fintech startups, digital literacy initiatives, and blockchain education to keep Africa competitive in the rapidly evolving global digital economy.
He also acknowledged concerns about blockchain’s environmental impact, highlighting that newer networks like Solana are significantly more energy-efficient than older systems such as Bitcoin.
REPORT | #MemeCoins were the Top-Performing Crypto Sub-Sector, #Solana was the Most Dominant Blockchain in 2024
Memecoins were the top-performing sub-sector, with 212% growth. https://t.co/5e3W9yeCDM @solana @solana_daily @binance pic.twitter.com/YWBQWcVx7C
— BitKE (@BitcoinKE) January 26, 2025
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