DreamOval: An Overview of the Fintech Industry and Payment Applications in Ghana

Claud Kweku Hutchful, CEO of DreamOval, explains what are the latest trends and developments in the fintech industry and payment applications sector in Ghana.

“There are a number of interesting things happening regarding technology. We are primarily a fintech company and there is currently a boom in the industry. It is a very active market. DreamOval offers a number of payment applications. We have one that we run in collaboration with Stanbic Bank called Slydepay. We also have many other competitors in that space. I have traveled a bit around Africa and it seems that Ghana has something unique in regard to the fintech industry and payment applications. Recently, the Central Bank has clamped down on us and required that we be regulated. It seems that we grew on their blindside. For us, it is an interesting development. We welcome the regulation, but we hope that it will not stifle innovation. We see a lot of fintech applications doing well. We see that there is potential for growth. We also see a lot of tech hubs outside fintech, such as agritech businesses, in the system. We also see a lot of CSR and activities around educating young children and young ladies in technology. We have our own foundation and we run the Africa Code Week. We also do a program called iTeach where we take teachers on a one-week course in technology. The whole idea is that we will be able to impact them so that they impact their children. We build technology, we run technology services, and we need a market that appreciates technology. So, we try to align our CSR activities to our company goals. In that same space, we see lots of things going on, lots of hubs, lots of IT training. Generally speaking, there is a great market and great opportunity and we are happy to be playing in this space. We will be successful and even our competition will be successful”, says Claud Kweku Hutchful.

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