Tech innovators must embrace scalability to attract investors — NCA

THE Secretary to the National Communications Authority (NCA), Nana Adjoa Adobea Khartey, has advised tech innovators to prioritise scalability in their projects to attract investors.

She said while solving local problems was important, innovators should always develop solutions with the potential for growth beyond their immediate market.

“A scalable solution gives investors the confidence that their capital can fuel expansion, helping your business tap into new markets and deliver long-term value,” she said, explaining that investors were particularly drawn to ventures that show a clear path to growth. 

She used the success of mobile money in Ghana as an example, illustrating how what began as a solution to financial exclusion has since grown into a model that is being replicated across the continent and beyond. 

According to data from the Bank of Ghana (BoG), between September and October 2024, the total number of mobile money transactions surged from GH¢705 million to GH¢728 million.

This increase corresponded to a rise in transaction value, which climbed from GH¢284.9 billion to GH¢298.6 billion emphasising the rapid growth of digital financial services which have become a significant contributor to Ghana’s Gross Domestic Product (GDP) and a key driver of economic transformation.
 

Tech in Ghana Conference 

Mrs Khartey who gave the advice during her presentation on the topic ‘Government Policy and Regulation: Key Drivers for an Enabling Tech Environment’ at the climax of the 14th edition of Tech in Ghana Conference in Accra on Wednesday, said mobile money’s scalability allowed it to transcend local boundaries and attract significant investments, transforming the financial landscape in many emerging markets.

The conference on the theme: “Security, Synergy and Storytelling", brought together about 400 players in the tech space to showcase their innovation to drive investment into the tech ecosystem.

It featured discussions on innovation in health and education, partnerships in entertainment and technology, and strategies for addressing challenges like regulation and funding in the tech space. 
  

Upskill 

In addition to scalability, Mrs Khartey cautioned tech innovators against adopting every emerging technological trend without carefully assessing its relevance to their specific market needs or business goals. 

Instead, she said they must focus on upskill themselves and ensure they remain competitive in their specific markets. 

“Don’t try to do some of everything or be distracted by every new innovation that comes along. Instead, assess its impact on your business and focus on staying relevant to your market,” she said.

 
Leverage digital tools

Speaking to Graphic Business on the sideline of the conference, the Chief Executive Officer (CEO) of hapaSpace, a Kumasi-based tech hub, Gideon Brefo, said the country has come a long way in embracing technology highlighting how tech hubs have nurtured local talent and empowered young innovators to take on global challenges.

He said the rise of tech hubs and digital tools presents opportunities for businesses across all sectors of the economy to enhance their operations, reach, and productivity.  

He explained that these platforms offer powerful features for building businesses, from marketing and customer engagement to streamlining operations and driving innovation. 

He emphasised that while having a social media presence on platforms like Facebook and Instagram was a start, it was also essential for businesses to dig deeper into the potential of these digital tools. 

“Let us not become what somebody called ‘flat users’ of technology. We have to take advantage of these features because they can help us build and promote businesses in ways we haven’t even imagined,” Mr Brefo said. 

Royal edition

For her part, the Founder of Tech in Ghana, Akosua Annobil, announced that the 2025 edition of the widely recognised conference will take place in Kumasi, one of the most vibrant cities in Ghana.