Category: ECONOMY

 

JUST  2 DAYS AGO I SAW A VIDEO ONLINE IN WHICH THE NEW CEO OF DALEX FINANCE SAYS THAT GHANA CAN EMBRACE CRYPTOCURRENCY FULLY. THERE IS NO QUESTION THAT HE WILL SAY THAT AS DALEX WILL BENEFIT IMMENSELY IF CRYPTOCURRENCY IS “FULLY EMBRACED” BY GHANA HERE IS A BRIEF COMPARISON OF THE SCENARIOS IF CRYPTOCURRENCY IS FULLY EMBRACED (REGULATED, WIDELY USED, INTEGRATED IN FINANCE) IN 2028, AND IF IT IS NOT:

 Dalex Finance in 2028 — Scenario Comparison

Dimension	Scenario A: Full Crypto Adoption	Scenario B: Limited / Informal Adoption
Customer Base	Expanded: Dalex attracts not only traditional clients (salary workers, SMEs) but also young crypto users, remittance clients, and diaspora investors. Could double client base.	Mostly unchanged. Sticks with salary loans, fixed deposits, and traditional investment products. Growth limited to existing segments.
Products & Services	• Crypto savings / investment products (custodial wallets, stablecoin deposits). • Cross-border payments & remittances via blockchain. • Tokenized loan portfolios for investors. • Crypto-collateralized loans.	• Traditional loans (salary, business). • Fixed deposits. • Limited innovation — maybe some fintech upgrades but no new asset class.
Revenue Streams	• Transaction fees on crypto payments. • Custody fees for crypto assets. • Spread income from crypto-fiat conversions. • Higher margins from remittance services.	• Interest income on loans. • Small margins from deposits. • Fee inco bme stays limited (no new sources).
Market Position	Seen as an innovator and first-mover among non-bank financial institutions in Ghana. Could become the go-to regulated crypto-finance hub.	Remains a mid-tier financial institution, competing mainly on loans against other SDIs and microfinance companies.
Partnerships	Likely to attract partnerships with global crypto exchanges, fintechs, diaspora groups, and payment providers.	Limited to local partnerships with payroll systems, SMEs, and perhaps mobile money providers.
Profitability	Potential to multiply profits by 2–3x compared to a traditional path, if execution is right and regulation is supportive.	Modest profit growth (incremental, maybe 10–20% over 2025 levels), but vulnerable to erosion if customers migrate to crypto alternatives outside Dalex.
Risks	• Volatility exposure. • Cybersecurity threats. • Regulatory compliance costs. • Need for heavy investment in infrastructure and customer education.	• Risk of stagnation. • Losing younger, digitally savvy clients to crypto-native platforms. • Dependence on government salary-loan base makes it vulnerable to public sector wage reforms or defaults.

COMPARISON PRODUCED WITH THE ASSISTANCE OF ARTIFICIAL INTELLIGENCE (AI).

THE TAKEAWAY FROM BOTH SCENARIOS IS THE FOLLOWING:

SCENARIO A (CRYPTO INTEGRATION) – IF DALEX MOVES BOLDLY AND EARLY, IT COULD BENEFIT ENORMOUSLY, BECOMING A LEADER IN DIGITAL FINANCE, EXPANDING PRODUCTS, DOUBLING ITS CUSTOMER BASE AND POTENTIALLY TRIPLING ITS PROFITABILITY BY 2028.

SCENARIO B (NO INTEGRATION) – DALEX WOULD STILL EXIST, BUT GROWTH WOULD BE MODEST. IT RISKS BECOMING LESS RELEVANT, ESPECIALLY AMONG YOUNGER GHANAIANS AND DIASPORA USERS WHO INCREASINGLY DEMAND CRYPTO-ENABLED SERVICES.

BUT IS GHANA REALLY FULLY CRYPTO-READY, AS THE DALEX CEO CLAIMS?

I LEAN TO THE POSITION THAT “GHANA IS PARTIALLY READY”. IN MANY RESPECTS, THE FOUNDATIONS ARE BEING BUILT, AND WITH POLITICAL WILL AND CAREFUL IMPLEMENTATION, IT CAN MOVE TOWARD FULL READINESS PERHAPS WITHIN A FEW YEARS. BUT GHANA IS NOT YET AT A POINT WHERE CRYPTO CAN BE FULLY EMBRACED WITHOUT RISK. IF  “FULLY EMBRACED” MEANS MAKING CRYPTO AS NORMAL AS BANKS, ETC. – WITH ALL PLAYERS REGULATED, LEGAL CLARITY, CONSUMER PROTECTION AND STABLE INTEGRATION INTO THE FINANCIAL SYSTEM – THEN GHANA STILL HAS STEPS TO TAKE.

THE SAME CEO IS QUOTED TO HAVE SAID THAT ” THE STARS ARE ALIGNED FOR GHANA”, THE QUESTIONS ARISING ARE NOW WHETHER THE STARS ARE REALLY ARISING FOR GHANA, AND WHY THE CEO MADE THE TWO REMARKS ABOUT CRYPTOCURRENCY AND THE STARS.’WITH THE REMARK ABOUT THE STARS, THE CEO COULD MEAN TWO DIFFERENT THINGS:

— HE COULD MEAN THE APPRECIATION OF THE CEDI AGAINST THE US-DOLLAR. HERE, SOME POSITIVE ASPECTS CAN BE SEEN. THE APPRECIATION OF THE CEDI IS STRONG (ALTHOUGH PARTLY CAUSED BY A GENERALLY WEAK DOLLAR); FORECASTS FROM REPUTABLE INSTITUTIONS LIKE FITCH EXPECT FURTHER STRENGTHENING; A STRONGER CEDI IMPROVES THE CONFIDENCE IN THE MACROECONOMY, WHICH IS ONE OF THE STARS TO BE ALIGNED.

BUT THERE ARE ALSO CAVEATS: THE TREND MAY NOT BE STABLE OR DURABLE; THE VOLATILITY RISK REMAINS HIGH; SOME REPORTS SUGGEST THAT “GAINS CRUMBLE” OR ARE UNDER STRESS; FORECASTS DEPEND ON FISCAL STABILITY, EXTERNAL BALANCES AND FAVOURABLE GLOBAL CONDITIONS.

AS A CONCLUSION WE CAN SAY THAT FOR THE CEDI SEVERAL STARS ARE ALIGNING, BUT IT IS NOT A PERFECT ALIGNMENT YET. THE RISK OF REVERSAL IS REAL, AND THE GAINS MAY STILL BE FRAGILE. THEREFORE, IT IS FAIR TO SAY THAT TO A MEANINGFUL EXTENT THE STARS ARE ALIGNING, BUT IT IS A DELICATE BALANCE, NOT A GUARANTEED DESTINY.

IF THE CEO MEANT THE CRYPTOCURRENCY WITH THE STARS, IT IS MORE OR LESS THE SAME SCENARIO: THE STARS FOR THE CRYPTOCURRENCY ARE ALIGNED IN AS FAR AS

— THE DEMAND EXISTS;

— THERE IS A POLICY SHIFT OF THE BANK OF GHANA;

— THERE IS AN INFRASTRUCTURE BASE – FINTECH AND MOBILE MONEY ARE STRONG;

— THERE IS A GLOBAL MOMENTUM – OTHER A FRICAN COUNTRIES GO INTO THE SAME DIRECTION, AND GHANA RISKS TO LAG BEHIND.

BUT NOT ALL STARS ARE ALIGNED YET:

— THE LEGAL FRAMEWORK IS INCOMPLETE;

— CONSUMER RISKS – SCAMS, VOLATILITY, WEAK FINANCIAL LITERACY OF POTENTIAL CUSTOMERS;

— INFRASTRUCTURE GAPS – INTERNET RELIABILITY, CYBERSECURIITY CAPACITY, ELECTRICITY STABILITY.

AS A TAKEAWAY WE CAN SAY THAT THE PHRASE OF THE CEO – IF IT IS ALSO MEANT FOR THE CRYPTOCURRENCY – IS MORE AN OPTIMISTIC FRAMING THAN REALITY. MANY OF THE STARS IN GHANA POINT IN THE RIGHT DIRECTION, BUT THE CONSTELLATION IS NOT COMPLETE.

SO, AS A CONCLUSION OF THIS ARTICLE, WHAT IS THE PURPOSE OF THE REMARKS OF THE DALEX FINANCE CEO?

1. HE WANTS TO SHAPE THE NARRATIVE (HE IS FRAMING GHANA AS BEING AT A TURNING POINT WHICH CREATES OPTIMISM AND POSITIONS GHANA NOT AS A STRUGGLING ECONOMY, BUT AS A LEADER IN DIGITAL DEVELOPMENT;
2. HE WANTS TO INFLUENCE REGULATORS AND POLICYMAKERS. HE ASKS POLICYMAKERS NOT TO DELAY, BECAUSE THE TIME “IS RIGHT”.
3. HE WANTS TO POSITION DALEX AS FORWARD-LOOKING BY LINKING MACRO STABILITY WITH DIGITAL TRANSFORMATION, WHICH HELPS THE COMPANY TO ATTRACT PARTNERS, INVESTORS AND CUSTOMERS;
4. HE WANTS TO EMPHASISE THE COMMERCIAL INTEREST.
5. IN SHORT, HE CREATES OPTIMISM FOR GHANA’S ECONOMY AND DIGITALISATION, AND FOR HIS COMPANY DALEX BY LINKING IT TO THIS GHANA ECONOMICAL TRANSFORMATION. I WOULD NOT BE SO POSITIVE CONCERNING THE ECONOMICAL TRANSFORMATION IN GHANA, BECAUSE FOR MY UNDERSTANDING THERE ARE TOO MANY SERIOUS CHALLENGES TO OVERCOME, BUT I WISH JOE JACKSON – THE CEO OF DALEX FINANCE – HIS COMPANY- (AND GHANA FOR THAT MATTE) GOOD LUCK.

 

As global power balances shift, new alliances are redefining how countries pursue growth and influence. One of the most prominent platforms reshaping international cooperation today is BRICS—the bloc originally formed by Brazil, Russia, India, China, and South Africa, and now expanding to include new members from Africa, the Middle East, and Latin America.

In this changing landscape, Ghana should not remain a bystander. While immediate membership might be premature, taking steps toward observer status would allow Ghana to participate in the conversations shaping the next phase of global economic realignment—and to prepare for eventual full membership when the timing is right.

The Case for Engagement

1. Diversifying Ghana’s Global Partnerships

For decades, Ghana’s economic orientation has leaned heavily toward Western institutions—such as the IMF, World Bank, and EU trade systems. While these partnerships have brought investment and stability, they have also created structural dependence.
Engaging with BRICS offers Ghana access to alternative sources of finance, technology, and markets—particularly from China and India, which are already major investors in infrastructure, manufacturing, and digital services across Africa. It would broaden Ghana’s economic diplomacy and reduce overreliance on traditional Western creditors.

2. Access to Development Finance

The New Development Bank (NDB), established by BRICS, is emerging as a credible complement to the Bretton Woods system. Membership could eventually allow Ghana to access long-term, low-interest financing for industrial, energy, and agricultural transformation—key pillars of the country’s 24H+ Economy programme.
Even as an observer, Ghana could begin building the relationships and technical understanding necessary to benefit from NDB operations in the region.

3. South–South Cooperation and Technology Transfer

BRICS promotes practical cooperation among developing economies. For Ghana, this could mean technology sharing in agriculture, renewable energy, and digital governance—fields where emerging economies like India and Brazil have made remarkable progress. It aligns with Ghana’s ambitions to industrialise, modernise governance, and expand job-creating sectors.

The Risks and Realities

1. Balancing Global Relationships

Joining BRICS too quickly could unsettle Ghana’s longstanding relationships with Western partners and financial institutions. The country still relies on IMF-supported programmes and Western market access for exports such as cocoa, gold, and manufactured goods.
A hasty shift might therefore be interpreted as a geopolitical realignment rather than an economic diversification—potentially risking investment flows and diplomatic goodwill.

2. Limited Influence in a Large Bloc

Even within BRICS, influence is uneven. China and India dominate decision-making, while smaller economies often find their voices diluted. Ghana must realistically assess how much leverage it could exercise within such a structure—and ensure that its engagement aligns strictly with national interests.

3. Governance and Institutional Readiness

Effective participation in BRICS initiatives demands strong policy coordination, data systems, and project governance. Ghana must strengthen its institutional capacity—particularly in trade, finance, and industrial policy—to ensure that any partnership translates into tangible domestic gains rather than symbolic diplomacy.

A Phased Approach Makes Sense

Given these considerations, the most strategic path forward is a gradual, two-phase approach:

• Phase 1 – Observer Engagement:
  Ghana should formally seek observer status at BRICS summits and the NDB. This would provide a learning platform, open diplomatic channels, and allow Ghana to assess the financial and political mechanisms of the bloc from within—without committing to full alignment.
• Phase 2 – Medium- to Long-Term Membership:
  Once macroeconomic stability improves and institutional readiness deepens, Ghana could pursue full membership. By that stage, BRICS will likely have matured into an even more diverse and balanced grouping, offering Ghana significant influence as one of Africa’s leading democracies and innovation hubs.

Conclusion: The Time to Prepare Is Now

In a multipolar world, Ghana cannot afford to remain dependent on a single geopolitical or financial axis. The country’s future prosperity will depend on strategic diversification—politically, economically, and diplomatically.

Seeking observer status in BRICS now would be a low-risk, high-return move: it would expand Ghana’s options, strengthen its voice in global development debates, and position it for deeper cooperation in the future.

Full membership may not be immediate, but the journey should begin now—on Ghana’s own terms, guided by its long-term economic vision and regional leadership ambitions.

(This article was prepared with the assistance of AI.)

ON SEVERAL FINANCIAL PLATFORMS IT IS REPORTED RECENTLY THAT MORE AND MORE COUNTRIES ;EAVE THE US-DOLLAR WHEN TRADING WITH OTHER COUNTRIES AND CHOOSE THE CHINESE RENMINBI OR THE SWISS FRANC INSTEAD.

THE REASON FOR THAT IS MAINLY THE TARIFFS POLICY OF THE TRUMPADMINISTRATION AND THE GLOBAL ECONOMIC UNCERTAINTY WHICH ORIGINATES FROM THE US-AMERICAN ECONOMIC POLICIES.

FURTHERMORE, THE TRUMP ADMINISTRATION USES TARIFFS TO PUT POLITICAL PRESSURE ON OTHER COUNTRIES. EXAMPLES FOR THAT ARE INDIA, WHICH WAS PUNISHED BY HIGHER TARIFFS FOR BUYING OIL FROM RUSSIA, BRAZIL, FOR TAKING BOLSONARO TO COURT, THE FORMER PRESIDENT OF BRAZIL AND TRUMP ASSOCIATE, AND QUITE RECENTLY MEXICO WHICH WAS FORCED TO RAISE TARIFFS FOR COUNTRIES IT DOES NOT HAVE TRADE AGREEMENTS WITH. THE TRUMP ADMINISTRATION REPORTEDLY FORCED THE MEXICAN GOVERNMENT TO ALIGN ITS TARIFFS POLICIES WITH THAT OF THE UNITED STATES; IF NOT, MEXICO WILL BE PUNISHED ECONOMICALLY.

NO WONDER THEN THAT MORE AND MORE COUNTRIES ARE TRYING TO AVOID THE US-DOLLAR, AND ARE LOOKING FOR MORE RELIABLE AND STEADFAST CURRENCIES TO TRADE WITH. THEY CAN’T CHOOSE THE EURO, AS THIS CURRENCY IS ECONOMICALLY AND POLITICALLY TOO CONNECTED TO THE US-DOLLAR. TO PROVE THAT, WE ONLY NEED TO LOOK AT THE OUTCOME OF THE US-EU TARIFF NEGOTIATIONS, AT THE END OF WHICH = ACCORDING TO THE MAJORIT OF BUSINESS EXECUTIVES IN EUROPR – THE EU HAD EEN RIPPED OFF.

THE SWISS FRANC IS AN ALTERNATIVE, BECAUSE SINCE DECADES, IT IS A STRONG CURRENCY WITH NOT MUCH FLUCTUATION; THEREFORE, TRADE PARTNERS ARE SURE WHICH CONDITIONS THEY WILL HAVE WHEN THEY USE THE SWISS FRANC AS ATRADING CURREBCY.

THE CHINESE RENMINBI, ON THE OTHER HAND, BENEFITS FROM THE FACT THAT THERE IS A STRONG AND RELIABLE ECONOMY BEHIND IT WITH A RELIABLE TRADING PARTNER – CHINA. THE CHINESE GOVERMENT DOES NOT MIND THE KIND OF GOVERNMENT IT IS TRADING WITH, AS LONG AS BOTH COUNTRIES BENEFIT FROM THE ARRANGEMENTS. ALSO, THE CHINESE ECONOMY – DESPITE CHALLENGES AND ATTEMPTS OF MAINLY THE U.S.A. TO DAMAGE IT – IS ROBUST AND FUTURE-ORIENTED. WHAT CHINA HAS ACHIEVED IN THE LAST 80 YEARS IS REMARKABLE, AND A LOT OF ALSO AFRICAN COUNTRIES SEEK THE COOPERATION WITH CHINA TO BENEFIT FROM THE CHINA’S EXPERIENCE.

THE GHANAIAN GOVERNMENTS FROM BOTH SIDES OF THE POLITICAL SPECTRUM HAVE ALSO REALISED IT; THE NPP GOVERMENT BY JOINING THE BELT-AND-ROAD INITIATIVE IN 2018, AND THE CURRENT NDC GOVERNMENT BY ORGANISING THE GHANA-CHINA BUSINESS SUMMIT IN JUNE 2025.

NOW THE TIME HAS COME FOR GHANA AND OTHER AFRICAN COUNTRIES TO INTENSIFY THE ECONOMICAL AND POLITICAL CONTACTS WITH CHIMA, AND TO JOIN THE GROWING NUMBER OF COUNTRIES THAT DISTANCE THEMSEELVES FROM AN ECONOMICALLY AND POLITTICALLY CHAOTTIC UNITED STATES OF AMERICA.

A FEEDBACK FOR AND DISCUSSON CONCERING THIS ARTICLE IS VERY MUCH WELCOME.