The government will from 2018 ensure that every Ghanaian has a bank account.
The vice president was speaking at the official opening of the 2017 Innovation Week organised by the Kofi Annan-India Centre of Excellence in Accra.
He indicated that over 70 percent of the country’s population do not have bank accounts.
The government’s move is, therefore, to reverse the trend.
Small business owners and traders have often outlined a number of reasons for shunning banks.
Many say that this is due to the cumbersome procedures involved in opening accounts and the high interest rates charged on loans.
Others also do not also trust the banking system and complain of difficulty in accessing funds.