Ghana’s District Assemblies Common Fund (DACF) and Singapore’s Embed Financial Group Holdings (EFGH) have announced a joint venture to create Africa’s first Finternet – a digital financial infrastructure linking governments, communities and businesses through transparent, self-sustaining technology.
The Finternet will connect payments, credit and insurance the way the Internet connects information, enabling districts across Ghana to manage funds and services more efficiently while creating new revenue streams for national development.
Responsible Partnership Model
Under the joint venture, the DACF and EFGH will co-invest in projects that generate income for public initiatives and support local SMEs. Each initiative will operate as a public–private partnership, ensuring that revenues are shared, local jobs are created and funds flow back into Ghana’s development priorities.
The DACF will retain oversight of all projects under the joint venture, ensuring alignment with national priorities and full accountability to the Government of Ghana. The partnership also supports Ghana’s decentralisation policy, equipping local assemblies with digital tools to mobilise revenue, improve transparency and expand financial access at the community level.
A Modern South-South Alliance
The initiative embodies South–South collaboration, a framework where countries of the Global South share knowledge and innovation to advance mutual growth. Recognised by the UN Office for South-South Cooperation, Singapore acts as a Southern knowledge partner through its Singapore Cooperation Programme, training officials and sharing digital-governance expertise with peer nations.
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