Bank of Ghana Governor Dr. Johnson Asiama has affirmed the nation’s capacity to weather external economic shocks, including potential fallout from the Israel-Iran conflict.
Speaking at a national digital finance forum, Asiama highlighted strengthened macroeconomic buffers, including improved foreign reserves and a stabilizing inflation rate, as key protective factors.
“The cedi’s recent stability reflects our disciplined monetary policy and transparent foreign exchange management,” Asiama stated, clarifying Ghana’s commitment to a flexible, market-driven exchange rate system. His remarks come amid growing public concern about currency volatility and global economic turbulence.
The governor revealed transformative shifts in Ghana’s financial sector, with mobile money now processing 97% of transaction volumes. Over four million citizens have accessed unsecured mobile loans, demonstrating fintech’s expanding role in financial inclusion.
To accelerate digital finance progress, Asiama announced three strategic initiatives: standardized open banking APIs, biometric digital identity integration, and collaborative rural financial access programs. Regulatory measures include mandatory digital ID guidelines for financial providers and establishment of an AI governance working group by late 2025.
“True innovation means building an ecosystem that’s both cutting-edge and inclusive,” Asiama concluded, urging coordinated action among banks, fintechs, and telecom operators to sustain Ghana’s financial sector transformation.
