Cizmic Bridges West and East with Ghana Trade Mission
News Release | Accra, Ghana | Feb 2020
Cizmic was selected as a delegate to participate in a trade mission to Accra, Ghana along with a team of other Florida businesses. This trip was organized by Enterprise Florida, the economic development body for the US state of Florida taking place over the course of four days. The collective team represented a diverse cross-section of export-oriented enterprises looking to forge relationships with business leaders and deepen the state’s partnership with the fast-growing West African nation.
With a GDP growth rate of 7.1% in 2019 and an annual GDP per capita growth of 4.4% between 2006 and 2017, Ghana ranks among Africa’s top-ten fastest growing economies. Major economic sectors include agriculture and natural resources; however, owed in part to the high mobile penetration of 134%, Ghana is also among Africa’s leading mobile money markets. In 2018, 44% of the population had an active digital wallet account and a significant share of the country’s economic value is transacted via mobile money platforms: US$45B (while GDP was US$65B that same year, 2018).
Sources: Ghana NCA, Bank of Ghana, Worldbank, Zenith Bank of Ghana
As an active provider of digital financial consulting services, Cizmic connected with a number of the regional pioneers in the telecommunications and fintech spaces including Scancom (MTN Ghana), Vodafone Ghana, and Zenith Bank. These interactions afforded an avenue for mutually productive east-west exchange of ideas and perspectives on the current trends in each region. The team walked away with a handful of new relationships and ties to the leading African nation.