A Professor of Finance and Economist at the University of Ghana, Godfred Bokpin, has declared his support for government's digitalisation agenda.

According to him, "nothing can replace digitalisation" since it is the only most ideal technique to achieve the country's economic development.

He made these assertions when he took his turn to contribute to the topic "Building the Fastest Growing and Digitalised Smart yet Broke Economy?" on JoyNews' Newsfile on Saturday.

In his view, digitalising Ghana's economy will fully incorporate the informal sector that has been marginalised in previous years despite its enormous contribution to its economy.

"This is a laudable move, and I share in the perspective that it is long overdue. But others have gone far ahead of us, and we are just at the basis of digital transformation.

"I think there is huge potential from the steps that we are taking, and if we also take time to address the underlying issues, then we will be able to transmit the hypothesised benefits into reality," he told Samson Lardy Anyenini.

Prof Bokpin also opined that the tax-based level will be broadened when the policy is effectively executed, thus increasing government's revenue generation.

"Studies have shown that the digital economy is going to grow faster than the traditional economy," he said.

With the African Union recognising e-commerce, the Economist said Ghana as a host country of the African Continental Free Trade Area (AfCFTA) should milk the opportunity.

"So this is something that even government should take to itself alone. We are looking at broadening the digitalisation and digitisation agenda across the private sector so that they can use that to take advantage of the African Continental Free Trade Area," he explained.