The Ministry of Information Communication Technologies (ICTs), Utilities and Energy, in collaboration with the International Telecommunication Union (ITU), has officially launched a two-day workshop aimed at advancing digital financial services (DFS) in Antigua and Barbuda. The workshop is being held in person at the Trade Winds Hotel.
The event brings together a diverse group of stakeholders, including government officials, technology experts, and representatives from financial institutions, to discuss innovative strategies for enhancing financial inclusion through digital platforms. Hon. Melford Nicholas, Minister of ICTs, opened the proceedings by acknowledging the pressing need for digital transformation in government and the private sector.
Cleveland Thomas, the ITU representative, emphasized the significance of digital assets in promoting financial inclusion, particularly through initiatives such as the Eastern Caribbean Central Bank’s D-Cash program. He remarked on the transformative potential of digital financial services, noting that over 2 billion adults globally remain unbanked, while 1.6 billion have mobile phones. “By bringing the unbanked into the formal economy, we unlock new avenues for growth and prosperity,” he stated.
The workshop will focus on key areas, including the establishment of a National DFS Security Task Force, the sharing of security standards, and a comprehensive review of past initiatives aimed at strengthening the digital financial services ecosystem in Antigua and Barbuda. Participants will engage in discussions to implement recommendations and best practices for securing mobile payment systems.
Minister Nicholas highlighted the need to adapt swiftly to the changing landscape of digital services, particularly in light of the increasing demand from the public.
The workshop represents a critical step toward fostering an inclusive financial environment that meets the needs of vulnerable populations and supports economic development across the region.
