Ghana’s District Assemblies Common Fund (DACF) and Singapore‑based Embed Financial Group Holdings (EFGH) announced on 29 October 2025 a strategic joint venture to develop what they describe as Africa’s first “Finternet”, a digital financial infrastructure linking governments, communities and businesses via payments, credit and insurance.
The initiative positions Ghana’s district assemblies and local governments to gain access to a technology platform enabling transactions between government, citizens and enterprises, embedded micro‑insurance, and new revenue‑generation models for local development. Under the partnership, the DACF will maintain oversight to ensure alignment with Ghana’s decentralisation agenda, while EFGH brings its fintech‑infrastructure and embedded‑finance capabilities.
Key features outlined in the announcement include:
- Digital finance rails enabling government‑to‑citizen and business‑to‑business transactions in Ghana’s districts.
- Embedded microinsurance and SME protection programmes built into the platform. (
- Green data‑centre infrastructure powered by hydro‑ and solar‑energy to underpin the Finternet network.
- Financial literacy and digital inclusion initiatives directed at citizens and small business owners.
DACF Administrator Harry Yamson said the venture will “expand Ghana’s capacity for fund mobilisation … and broaden financial inclusion for citizens and small businesses across rural Ghana.” EFGH Executive Chairman Dennis Ng described the partnership as “a defining moment … proof that innovation and trust can come together to create shared prosperity,” signalling the Singapore group’s commitment to bringing its digital‑finance expertise into the African context.
The partnership exemplifies a South–South cooperation model, leveraging Ghana’s decentralisation agenda and Singapore’s experience in digital governance and embedded finance. It is expected to create new local jobs, increase transparency in public‑fund flows and support local SMEs through embedded services.
While the joint venture’s financial details have not been publicly disclosed, the announcement sets a roadmap for roll‑out across district assemblies in Ghana, with the next phases to focus on pilot deployments and scaling of the infrastructure.
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