The government has begun legislative steps to transform the Ghana Investment Fund for Electronic Communications (GIFEC) into a new vehicle aimed at powering Ghana’s digital economy.
Minister for Communication, Digital Technology and Innovation, Samuel Nartey George, announced that the proposed entity— to be known as the Digital Economy and Innovations Development Fund (DEIDEF)—will reposition the existing fund to better support emerging technologies, innovation financing, and digital infrastructure expansion.
The announcement was made during the 30th anniversary launch of the National Communications Authority (NCA), where the Minister reflected on the evolution of Ghana’s communications sector and the policy continuity that has shaped its growth over the years.
Tracing the history of state intervention in the sector, he noted that what began as the Ghana Investment Fund for Telecommunications (GIFTEL) under the leadership of Albert Kan Dapaah eventually evolved into GIFEC to expand universal access to communication services across underserved communities.
According to the Minister, the planned transition to DEIDEF represents a strategic shift from focusing primarily on access and connectivity to supporting a broader digital economy agenda, including innovation ecosystems and next-generation technologies.
He indicated that a legislative review is currently underway to give legal backing to the restructuring, positioning the new fund as a central pillar in Ghana’s digital transformation drive.
