Can Blockchain Help Ghana with Transparency of Campaign Financing for Political Elections?

What’s happened this Week:

• Ghana’s Revenue Authority Discusses E-Levy Lessons with ICTD

• Prembly launches background checks for emerging markets

• and more!

In The News This Week:

Kenya To Resume Digital ID Distribution After High Court Lifts Injunction

A Kenyan High Court has lifted an injunction that prevented the Kenyan government from printing new digital identity cards.

Ghana Revenue Authority Partners With International Centre for Tax and Development To Discuss Mobile Money Tax Policies

The Ghana Revenue Authority (GRA) in collaboration with the International Centre for Tax and Development (ICTD) has held a workshop in Accra to discuss the taxation of mobile money and its effects on the economy

Prembly Launches Background Check Solutions, Enabling Global Businesses to Access ID Verifications in Emerging Markets

Prembly, a trusted partner in the compliance and security industry, has released its background check solution, carefully designed to meet the nuanced requirements of emerging markets.

In the rest of the news:

• MTN Group Fintech and Mastercard Sign Agreement To Issue Payment Cards For MTN MoMo Users

• Ethical Credit Platform BFREE Raises $2.95 Million in Funding Round Led by Capria Ventures

• E-Commerce Store Builders like Selar are Revolutionising the Creator Economy in Africa

• How WhatsApp Payments Could Be a Revolution for SMEs in Ghana

• Navigating Company Registration and Compliance in Ghana

• How To Ensure Business Continuity? Invest In DDoS Protection

• Does Ghana’s Real Estate Market Have a Money Laundering Issue?

Deep Dive

Can Blockchain Technology Foster Transparency in Political Campaign Financing In Ghana? - Ghana is set to have its general elections in December of this year.

An issue that has been coming up of late is campaign financing. It brings into question the issue of illicit funds tarnishing the electoral process. Can the use of technology like blockchain help with transparency?

Why This Matters: Some public commentators and elected officials have gone on record to state that it costs a candidate for a member of parliament about GHC 4 Million (~$690,000) to run for an election while it costs about $50 – $100 million.

Zoom Out: In Ghana, campaign financing regulations exist, but enforcement is often weak, leading to a lack of accountability and transparency.

PODCAST: Discussing Capital Markets In Africa With Eugene Tawiah From SecondSTAX

On our latest podcast episode, we spoke with Eugene Tawiah from SecondSTAX, a tech startup involved in the capital markets in Africa.

We discussed how SecondSTAX is working with multiple stock exchanges in Ghana and Nigeria, the current state of economies in Africa, and how technology is helping investors gain access to markets.

Africa Ecosystem Activity

• SA startup Cue raises $2m to accelerate customer service with AI - Disrupt Africa

• Senegalese logistics marketplace Logidoo raises $1.5m funding round - Disrupt Africa

• Egyptian fintech startup MoneyHash raises $4.5m seed funding - Disrupt Africa

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Stat of The Day

According to data from Passport Index, Ghana currently has access to 49 countries where travellers have a “Visa Free” option. Last year, South Africa signed off on an agreement to make travel for Ghanaians visa-free.

This year, more countries are expected to sign off on visa-free travel for Ghanaian passport holders.