Ghana Can Triple GDP to GHS 3 Trillion with Blockchain Technology Adoption, Says AyaHQ CEO

Ghana has the potential to triple its GDP from the current GHS 1 trillion to over GHS 3 trillion within the next decade if it aggressively adopts blockchain technology, according to Eric Annan, CEO of AyaHQ.

Speaking to NorvanReports in an interview on Wednesday, Mr. Annan described blockchain as “the internet of value,” arguing that the technology could enable ordinary Ghanaians to create and own economic value, ultimately contributing to national development.

“We believe, from the Blockchain Builders Association of Ghana, that now is the time to start a serious policy conversation,” he said. “We are calling on policymakers—from the executive, judiciary, and legislature—to provide regulatory clarity that would encourage innovation and investment.”

Mr Annan noted that over one million Ghanaians are already involved in blockchain-related activities, with more than 3% of the population transacting with cryptocurrencies. However, he argued that the lack of a coherent regulatory framework is preventing the country from fully harnessing the economic benefits of blockchain technology.

The AyaHQ CEO suggested that Ghana could position itself as a leading blockchain hub by creating an enabling environment for startups and foreign investment. He cited examples of global technology firms such as Airbnb and Uber, whose economic impact far exceeds the GDP of many developing nations, and stressed the need for Ghana to incubate homegrown technology ventures.

“If Ghana intentionally embraces blockchain and fosters entrepreneurship, we could see billions of dollars flowing into the economy within three years,” he said. “Instead of being passive consumers of technology, we must become creators of value.”

AyaHQ, a member of the Blockchain Builders Association Ghana, is focused on nurturing blockchain talent and innovation. The association aims to train local developers to address economic challenges and create a sustainable technology ecosystem.

Mr Annan’s comments come as Ghana grapples with economic headwinds, including inflationary pressures and reliance on external financing. Proponents of blockchain argue that the technology could drive financial inclusion, improve transparency, and unlock new revenue streams for the government. However, concerns over regulation, security, and adoption remain key hurdles.

For Ghana to capitalize on blockchain’s potential, Mr Annan believes the government must act decisively.

“This is about defining our economic future for the next 100 years,” he said. “Ghana must tell the world that we are open for blockchain business.”