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Ghana’s District Assemblies Common Fund (DACF) and Singapore’s Embed Financial Group Holdings (EFGH) have announced a joint venture to establish Africa’s first Finternet — a digital financial infrastructure designed to connect governments, communities, and businesses through transparent and self-sustaining technology.
The Finternet aims to link payments, credit, and insurance in the same way the Internet connects information, enabling Ghana’s districts to manage funds and services more efficiently while generating new revenue streams for national development.
Under the partnership, the DACF and EFGH will co-invest in income-generating projects that support public initiatives and empower local small and medium enterprises (SMEs), Africa Tech Insights reported.
Each project will operate under a public–private partnership model to ensure revenue sharing, job creation, and reinvestment into Ghana’s development priorities.
The DACF will retain oversight of all initiatives under the joint venture, guaranteeing alignment with national objectives and accountability to the government.
The collaboration also advances Ghana’s decentralisation agenda by providing local assemblies with digital tools to boost revenue mobilisation, enhance transparency, and expand financial access at the community level.
Key features include digital finance rails for government-to-citizen and business transactions, embedded micro-insurance for contractors and SMEs, green data centres powered by hydro and solar energy, and financial literacy programmes to promote digital inclusion.
DACF Administrator Harry Yamsom said:
“We are excited about what lies ahead – especially the opportunity to broaden financial inclusion for citizens and small businesses across rural Ghana. Together we will move quickly to launch solutions that bring tangible benefits to both consumers and B2B partners throughout the country.”
EFGH Executive Chairman Dennis Ng added:
“By partnering with the DACF, we are building systems that generate lasting value – for government, for business, and for every community we serve.”
The initiative embodies South–South cooperation — a framework through which countries of the Global South share knowledge and innovation to drive mutual growth.
Recognised by the UN Office for South–South Cooperation, Singapore serves as a Southern knowledge partner through its Singapore Cooperation Programme, which trains officials and shares digital-governance expertise with peer nations.
The DACF–EFGH partnership reflects this spirit of collaboration, demonstrating how developing and emerging economies can combine resources and innovation to advance inclusive and sustainable progress.
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