Bank of Ghana Governor Dr. Johnson P. Asiama has unveiled an ambitious blueprint to bridge Ghana’s growing digital finance divide, calling for unprecedented collaboration between banks, fintechs, and telecom companies to create an inclusive financial ecosystem.
Speaking at the Ghana Association of Banks’ Thought Leadership Forum, Dr. Asiama revealed startling data showing mobile money platforms now handle 97% of digital transactions while traditional bank channels account for less than 1%.
The central bank chief outlined a three-pillar strategy focusing on open banking infrastructure, interoperable digital identity systems, and collaborative financial models. “Financial access alone isn’t enough – we must ensure meaningful usage of digital services, especially for rural communities, women and low-income earners,” Dr. Asiama emphasized. He announced concrete measures including a National Digital Finance Interoperability Forum to launch in late 2025 and a forthcoming mandate for universal digital ID integration across financial services.
Addressing currency stability concerns, the Governor defended the cedi’s recent performance as the result of disciplined monetary policy rather than artificial intervention. “Our flexible exchange rate regime, supported by stronger reserves and credible policies, has delivered stability despite global tensions,” he stated, while pledging vigilance amid ongoing geopolitical uncertainties.
The Bank of Ghana will establish an AI and Risk Governance Working Group to develop frameworks for emerging technologies in credit scoring and fraud detection. Dr. Asiama also promised regulatory sandboxes to encourage innovation while maintaining financial stability.
With over 4 million Ghanaians currently relying on unregulated digital loans, the Governor’s vision aims to bring informal financial activities into the regulated sphere through partnerships between traditional banks and mobile money platforms. “We must move beyond competition to collaboration – agent banking, micro-loans with formal credit backing, and insurance through informal cooperatives,” he urged.
The address positioned Ghana’s financial digitization as a potential global model, with Dr. Asiama concluding: “Let us not make Ghana just a model for Africa. Let’s make it a model for the world.”
