Title page

Contents

Acknowledgements 3

Executive summary 7

1. Introduction 10

2. Ghana's digital economy 12

2.1. Digital trade and e-commerce 12

2.2. Ghana's ICT sector 13

2.3. Digital trade and the fintech landscape in Ghana 16

3. Review of existing policies, laws and regulations governing digital trade 21

3.1. Laws and regulations 21

3.2. Policies 25

3.3. Comparison with other countries 25

3.4. Digital trade challenges for Ghana: some existing gaps 26

3.5. Areas for improvement for Ghana 30

4. Ghana's technological infrastructure and e-commerce capabilities 31

4.1. Components and enablers of a digital trade ecosystem 32

4.2. Digital payments 35

4.3. Digital identity 35

4.4. Digital technologies 37

4.5. Digital platforms 38

4.6. Digital skills 38

5. Perceptions and understandings of the AfCFTA among stakeholders in Ghana 39

5.1. Expanding market horizons 39

5.2. E-commerce as a growth driver 40

5.3. Digital infrastructure readiness 40

5.4. Knowledge gap and capacity-building 41

5.5. Regulatory clarity and support 41

5.6. Perceptions of the regulatory environment 42

5.7. Additional benefits of the AfCFTA Protocol 43

5.8. Awareness of the AfCFTA Protocol 43

5.9. Capacity for handling digital trade 44

5.10. Involvement in negotiations and preparations 44

5.11. Policy and regulatory framework 44

5.12. Infrastructure readiness and challenges 45

5.13. Barriers to digital trade 45

5.14. Skilled labour and innovation policies 46

5.15. Collaboration for implementation 47

5.16. Support and capacity-building initiatives 47

6. Estimating the potential impacts of the Protocol on Digital Trade on Ghana's economy 49

6.1. Estimating the potential impacts of increased digital penetration on Ghana's economy 51

6.2. Estimating the potential impacts of the AfCFTA and increased digitalisation for Ghana's economy 52

7. Conclusions and policy recommendations 54

7.1. Conclusion 54

7.2. Policy recommendations 54

References 56

Table 1. Top 10 active fintech companies in Ghana 17

Table 2. Regulatory fragmentation in digital trade 27

Table 3. Data privacy and security concerns 28

Table 4. Digital divide challenges 28

Table 5. Private and public sector perspectives on the AfCFTA and the Protocol on Digital Trade 47

Figure 1. ICT sector contribution to the Ghanian economy, 2013-2022 13

Figure 2. International trade (exports) in digitally deliverable services, Ghana, 2015-2021 14

Figure 3. ICT worker vs total worker productivity (constant 2015 $) 16

Figure 4. Fintech use in Ghana 17

Figure 5. Needs and opportunities for e-commerce development in Ghana 31

Figure 6. Trading across borders by country 32

Figure 7. Internet use in Ghana 33

Figure 8. Ghana, internet use by age group 33

Figure 9. Ghana, internet use by device 34

Figure 10. GPH digital trade framework 35

Figure 11. Trade with other African countries 40

Figure 12. Proportion of trade conducted through e-commerce 40

Figure 13. Ownership of e-commerce website or use of third-party e-commerce platform 41

Figure 14. Knowledge of the AfCFTA Protocol 41

Figure 15. Awareness of regulatory bodies for e-commerce 42

Figure 16. Are Ghana's current regulations and rules sufficient to support digital trade? 42

Figure 17. Awareness that digitally delivered products can be exempt from tariffs 43

Figure 18. Familiarity with the AfCFTA Protocol 43

Figure 19. Presence of an official or unit that handles digital trade issues 44

Figure 20. Involvement in negotiations for the AfCFTA Protocol 44

Figure 21. Sufficiency of Ghana's current rules and regulations to enhance digital trade exports 45

Figure 22. Sufficiency of current digital infrastructure to support digital trade 45

Figure 23. Barriers to digital trade 45

Figure 24. Sufficiency of skilled labour 46

Figure 25. Considerations to implement policies to facilitate digital economy technology transfer and innovation 46

Figure 26. Collaboration to implement the Protocol 47

Figure 27. Sensitisation and capacity-building 47