Ghana's DACF and Singapore's EFGH Launch Joint Venture to Build Africa's First Finternet

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ACCRA, Ghana, SINGAPORE, Oct. 29, 2025 /PRNewswire/ -- Ghana's District Assemblies Common Fund (DACF) and Singapore's Embed Financial Group Holdings (EFGH) have announced a joint venture to create Africa's first Finternet - a digital financial infrastructure linking governments, communities and businesses through transparent, self-sustaining technology.

The Finternet will connect payments, credit and insurance the way the Internet connects information, enabling districts across Ghana to manage funds and services more efficiently while creating new revenue streams for national development.

Responsible Partnership Model

Under the joint venture, the DACF and EFGH will co-invest in projects that generate income for public initiatives and support local SMEs. Each initiative will operate as a public–private partnership, ensuring that revenues are shared, local jobs are created and funds flow back into Ghana's development priorities.

The DACF will retain oversight of all projects under the joint venture, ensuring alignment with national priorities and full accountability to the Government of Ghana. The partnership also supports Ghana's decentralisation policy, equipping local assemblies with digital tools to mobilise revenue, improve 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 and protection for contractors and SMEs.
• Green data centres powered by hydro and solar energy.
• Financial-literacy programmes to enhance digital inclusion.

Leaders Comment

Harry Yamsom, Administrator of the DACF, said:

"Our collaboration with EFGH will expand Ghana's capacity for fund mobilisation in support of the nation's decentralisation agenda. 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."

Dennis Ng, Executive Chairman of EFGH, said:

"This partnership represents a defining moment for both Ghana and Singapore. It's proof that innovation and trust can come together to create shared prosperity. At EFGH, we are proud to contribute Singapore's experience in digital finance to support Ghana's vision for inclusive growth. By partnering with the DACF, we are building systems that generate lasting value - for government, for business and for every community we serve."

A Modern South-South Alliance

The initiative embodies South–South collaboration, a framework where countries of the Global South share knowledge and innovation to advance mutual growth. Recognised by the UN Office for South-South Cooperation, Singapore acts as a Southern knowledge partner through its Singapore Cooperation Programme, training officials and sharing digital-governance expertise with peer nations.

The DACF–EFGH partnership reflects this spirit of cooperation, demonstrating how developing and emerging economies can combine resources and innovation to deliver inclusive, self-sustaining progress.

About the District Assemblies Common Fund (DACF)

The DACF is a constitutionally mandated Ghanaian fund that allocates national resources to all 261 districts for education, healthcare, infrastructure and community development.

About Embed Financial Group Holdings (EFGH)

EFGH is a Singapore Finternet company building digital infrastructure for protection, credit and payments across Asia and Africa. EFGH partners with governments, banks, insurers and telecom operators to expand financial access and opportunity for underserved communities.

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