Sam George pledges funding for cybersecurity, support for fintech industry
The ministerial nominee for the Ministry of Communications, Digital Technology, and Innovations, Sam Nartey George, has pledged to ensure adequate funding for cybersecurity once approved.
He identified several potential funding sources for cybersecurity, including government grants, allocations from individual donor agencies like the MasterCard Foundation and the Rockefeller Foundation, as well as the creation of a dedicated Cyber Fund to support beneficiaries in the cybersecurity sector.
During his appearance before the Appointments Committee on Thursday, January 30, 2025, Sam George also committed to overseeing support for the fintech industry and revamping the country's entire cybersecurity regulatory framework.
He emphasized the critical importance of cybersecurity, noting that it intersects with both the Ministry of Communications, Digital Technology, and Innovation and national security.
Reflecting on his past involvement, Sam George highlighted his key role in the development of the Cybersecurity Act (2020) (Act 1038), noting that while the original draft lacked funding provisions, he successfully advocated for the inclusion of funding measures.
Regarding the fintech industry, he also committed to providing support to ensure that startups thrive in the country, offering hope to young innovators.
"Mr. Chairman, cybersecurity is a critical issue for our country that intersects with both the Ministry of Communications, Digital Technology, and Innovation, and our national security framework. In fact, if you refer to the national security strategy document prepared in 2020, paragraph 3.4 on page 41 specifically addresses our country's cybersecurity preparedness," he stated.
He went on to say, "Mr. Chairman, in 2020, we passed Act 1038, the Cybersecurity Act. As a member of the committee at the time, I played a key role in the development of that legislation. When it came to Parliament from Cabinet, the bill did not include provisions for funding cybersecurity. It was my personal intervention and the amendments I proposed that led to the introduction of Section 23, which outlines the funding for the bill."
"I would say that it is just sheer providence that four years after the bill came into law, the outgoing government was unable to operationalize the fund and I, who brought it into the bill, today sit here as a nominee of the President to superintend this bill. I give you the assurance that the brain and thinking behind me introducing funding for the bill, and if you read it, I identify a number of sources to fund cybersecurity."
"So I think it is just sheer providence that when approved by this house, and I assume office as Minister for Communications, the thoughts that came through my mind in September 2020, when I introduced this as an amendment, will see the light of day under President John Dramani Mahama. I thank you," he concluded.