ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
Combined with sustained disinflation, positive real interest rates, and resilient export and remittance inflows, these developments have anchored expectations and restored confidence in the currency’s value.
Let me be clear: we are not pursuing a rigid exchange rate target or a predetermined band.
The Bank of Ghana remains committed to a flexible exchange rate regime , one that is anchored in fundamentals, responsive to shocks, and supported by credible policy tools.
We remain vigilant and fully prepared to act in a timely and measured manner to preserve orderly market conditions and safeguard the broader macroeconomic stability necessary for financial innovation and inclusion to thrive.
Industry Leadership in a Shared Ecosystem The concept note rightly frames this forum as a unique opportunity to realign our shared vision.
This transformation must be industry-led, but also policy-aligned.
The evolution of our digital finance space cannot be left to chance —it must be guided by del iberate coordination, shared infrastructure, and thoughtful innovation.
The objectives before us today are compelling: • Align the regulated community around a unified strategy for digital finance; • Identify strategic levers that both unlock innovation and protect system integrity; • Commit to an interoperable, inclusive ecosystem that brings all Ghanaians into the financial fold.
Let me expand on three priority areas that must anchor this journey forward.
Reclaiming Digital Distribution Through Open Infrastructure The future of banking is open —not siloed.
It is encouraging that one of today’s expected outcomes is the formation of a Technical Working Group on Open Banking Readiness.
This is the foundation we need to: • Facilitate API standardization across banks and fintechs; • Drive competitive product layering on top of core infrastructure; • Empower customers with data portability and consent-driven services.
Banks must lead not follow in this space.
Open banking is not about giving ground to new entrants; it is about reclaiming trust, redefining convenience, and renewing relevance.
The Bank of Ghana will support this shift by ensuring that our forthcoming regulatory reforms particularly around data governance and consumer protection match global best practice while being context-sensitive.
Building a Shared Digital Identity Layer A second outcome we aim to solidify is a roadmap for interoperable digital identity implementation across regulated institutions.
A shared identity framework is the bedrock of last-mile inclusion.
It allows for: • Seamless KYC and onboarding; • Cross-platform authentication and fraud mitigation; • Financial continuity for underbanked populations, especially in rural areas.
The Bank of Ghana is already in discussion with partners in government and the private sector to integrate biometric authentication into our payment ecosystem.
This initiative will not only reduce onboarding friction but unlock access to formal credit, mic ro-insurance, and savings tools.
Collaborative Models for Last-Mile Inclusion Let us be honest —neither banks, nor fintechs, nor telcos can do this alone.
We need blended delivery models, co-created products, and shared digital rails to reach underserved populations.
I am encouraged by the event’s objective to pilot collaborative models for inclusion.
This could take the form of: • Agent banking embedded in mobile-first experiences; • Micro-loan products co -designed by banks and fintechs, but underpinned by formal credit analytics; • Insurance and pension microproducts delivered through informal sector cooperatives.
The Bank of Ghana is committed to enabling these experiments through our Regulatory Sandbox, which will soon evolve into a more agile, digital-first testbed to fast-track innovation with regulatory oversight.
Interoperable, Inclusive Infrastructure We must deepen the interoperability of digital platforms —not just for payments, but for identity, credit scoring, and data portability.
The Bank of Ghana is working with relevant agencies to roll out biometric financial authentication infrastructure, ensuring that every Ghanaian can be uniquely identified across financial institutions and platforms.
But this is where your role as industry leaders is vital: to build shared platforms, to co -invest in secure APIs, and to align your core banking systems with open banking standards.
Responsible Innovation, Agile Regulation Innovation must not outpace safety.
As we advance into areas like tokenized money markets, blockchain-based settlement, and algorithmic credit scoring, the Bank of Ghana is adopting a regulatory sandbox and risk-based supervision models.
Our upcoming Virtual Assets and V ASP Bill will provide legal clarity while fostering innovation.
To you, the banking and fintech leaders, I say: work with us.
Bring your pilots into regulatory co-creation spaces.
Join us in setting global standards right here in Ghana.
Let’s not forget that in markets like the UK, the FCA is partnering with AI leaders such as Nvidia to explore new frontiers in a controlled sandbox environment.
Ghana can and must lead in this space in Africa.
Policy and Regulatory Commitments by the Central Bank In response to this evolving digital ecosystem, allow me to announce three initiatives from the Bank of Ghana: 1.
National Digital Finance Interoperability Forum By Q4 2025, we will launch a quarterly dialogue platform with banks, fintechs, telcos, and regulators to ensure sustained policy alignment.
Digital Identity Integration Mandate We will issue guidelines requiring all financial service providers to adopt interoperable digital identity standards as part of their KYC and fraud detection systems.
AI and Risk Governance Working Group We will partner with the Ghana Fintech and Payments Association and key banks to develop policy recommendations on AI usage in credit scoring, fraud detection, and financial decision-making.
These are not isolated actions.
They reflect our long -term vision of a safe, interoperable, and inclusive financial ecosystem, with industry as the co-architect.
Conclusion Ladies and gentlemen, the challenge before us is not one of innovation.
It is one of coordination, commitment, and courage.
Let this forum serve not only as a venue for exchange but as a launching pad for measurable outcomes.
Let us leave here with a unified agenda: • To rebuild trust through transparency and inclusion; • To embed value in every digital interaction not just efficiency; • And to make Ghana’s digital finance ecosystem not just a model for Africa, but for the world.
Before I conclude, let me briefly address a matter on the minds of many —the evolving geopolitical tensions in the Middle East, particularly the Iran –Israel conflict.
While the Bank of Ghana is closely monitoring the situation and its potential impact on global energy markets, supply chains, and investor sentiment, I wish to assure the public that Ghana’s macroeconomic buffers are stronger today than they have been in recent years.
Our foreign reserve position, inflation trajectory, and fiscal adjustment efforts provide a solid cushion.
We are also actively engaged with our international partners to remain responsive to any external shocks.
The Bank stands ready to take prudent and pre-emptive measures to preserve Ghana’s economic stability and protect the progress we have made.
Let us bank the last mile.
Thank you, and may God bless our work.
GHANA DIASPORA INVESTMENT FORUM 2025 REMARKS BY DR.
ZAKARI MUMUNI FIRST DEPUTY GOVERNOR, BANK OF GHANA KEMPINSKI HOTEL JUNE 10, 2025 Mr.
Chairman, The High Commissioner, Distinguished Guests, Investor Community, Ladies and Gentlemen, 1.
Let me first thank the Canadian High Commission in Ghana, Fidelity Bank Ghana Limited, and GIZ for the kind invitation to this year’s Ghana Diaspora Investment Forum.
Distinguished Guests, this is a very important Forum given the immense contributions of our compatriots in the Diaspora towards the country’s national development and it is indeed an honour to join in the discussions.
Chairman, this Forum is taking place at a time that heightened trade and economic policy uncertainty, triggered by a mix of geoeconomics and geopolitical tensions , have led to significant downgrades in global growth, stalled the disinflation, and threaten to tighten global financial conditions even further.
Early assessments indicate that developing countries, such as Ghana, with stronger fundamentals are most likely to effectively manage t he spillover effects of these external shocks.
For this reason, I commend the organisers for taking this initiative to explore the various options to position Ghana to attract investment for national development.
Amid the global challenges, one low hanging fruit for Ghana is to explore opportunities to mo bilise diaspora investments through innovative financial products and services.
Indeed, this must be premised on a conducive business and investor climate and sound government policies and regulatory reforms for impactful investments.
For these reasons, my remarks today will focus on efforts to revamp the Ghanaian economy to create the enabling macroeconomic and investor friendly environment to attract diaspora investments.
Also, I will briefly touch on strengthening the financial sector and payment systems to facilitate access to investment opportunities.
Recent Developments in the Ghanaian Economy 5.
Chairman, the Ghanaian economy is currently on a mend, following the recent challenging years, characterised by consecutive external and domestic shocks.
The implementation of prudent fiscal and monetary policies is yielding positive results; and over the first few months of 2025, • The economy has shown sustained growth momentum, evidenced by the Bank’s high frequency real sector indicators.
• The disinflation path has kicked in strong, with a sharp decline in headline inflation to 18.4 percent in May, having remained above the 20 percent for the past three years.
• Fiscal policy implementation in the first quarter of the year was broadly aligned with the 2025 budget , supported by expenditure rationalisation to accommodate revenue shortfalls.
• The external sector recorded significant improvements in the first quarter, with a provisional current account surplus of US$2.1 billion backed b y increased production volumes and higher international prices of gold and cocoa, as well as strong remittance inflows.
• The country’s Gross International Reserves hit a record high of US$10.7 billion in April 2025, equivalent to 4.7 months of import cover, providing enough cushion against external shocks.
• Finally, the cedi has rebounded strongly against the major trading currencies supported by a combination of factors, including tight monetary policy stance, ongoing fiscal consolidation, record reserve accumulation, strict enforcement of FX market rules and improved market sentiments.
In the outlook, Distinguished Guests, the country’s macroeconomic fundamentals are projected to improve further to create a business -friendly environment for investors.
Growth is projected to remain strong in the year.
Headline inflation is expected to trend further down towards the end -year target of 12 percent, supported by tight monetary policy stance, stepped -up liquidity sterilisation efforts, fiscal consolidation, and exchange rate stability.
Furthermore, the external sector is projected to remain favourable anchored on increased gold and cocoa receipts and inflows from remittance.
Strengthening the banking sector to attract diaspora investments 7.
Chairman, in addition to the progress being made on the macro front, strengthening the financial sector is also critical in the quest to attract diaspora investments.
The sector plays a key role in mobilising diaspora capital for development by fostering trust, offering tailored financial products, leveraging digital financial platforms, and addressing barriers to investment.
Over the years, the Bank has undertaken comprehensive reforms to ensure that the banking sector is stable, sound, and well -capitalised to support the fast-growing Ghanaian economy.
The se reforms have focused on the enhancement of the regulatory regime s; strengthening the monitoring, supervision and enforcement frameworks; and finally, building capacity and promoting ethical culture within the industry.
To create a secure environment for financial services and ensure the safety of customer transactions w ith the ongoing digitalisation of the banking industry, a Directive to promote Cyber and Information Security was introduced.
Also, sustainable banking principles has been launched to promote responsible environmental and social practices that inure to the benefit of the economy and communities otherwise at risk.
In the year so far, the banking sector has remained resilient.
This is evidenced by strong asset growth and continued improvements in the financial soundness indicators, although asset quality remains a concern.
In this regard, the Bank has recently announced plans to issue a comprehensive directive to tackle persistently high Non-Performing Loans (NPLs) across regulated financial institutions.
This will, among others, include: • Mandate write -offs of fully provisioned loans with no realistic recovery prospects, excluding related-party exposures.
• Tighten restructuring rules, requiring sustained repayment before reclassification.
• Enforce timely collateral recovery, especially for overdue loans, and, • Strengthen credit risk governance and require proof of effectiveness.
These actions form part of the Bank’s continued efforts to restore asset quality, promote sound lending practices, and safeguard the resilience of Ghana’s financial system.
In addition, the Bank will undertake continuous regulatory policy enhancements to encourage more innovation through appropriately regulated technologies to drive new savings, credit, and payment products and services that promote efficient, convenient, and inclusive financial services.
Chairman, r emittance inflows have become a critical component of Ghana’s FX build up and it is expected that the ongoing reforms to tighten the FX rules regarding remittances will help lower costs, increase the speed of remittance services, provide a layer of security and transparency, and encourage the diaspora communities to channel more funds to Ghana.
The Bank will continue to promote the development of innovative diaspora - tailored financial solutions and services to facilitate their settlement and investment plans in the country.
Efforts at strengthening the payment systems to attract diaspora investments 13.
Over the last few decades, Bank of Ghana has been at the forefront of innovation, laying the foundation for an effective and efficient retail payments ecosystem that is anchored on a robust interbank infrastructure.
After the issuance of various regulations and guidelines to support the payment ecosystems, enactment of the comprehensive Payment Systems and Services Act, 2019 (Act 987) revitalised the digitalisation agenda.
The new Act included the mandate to pull together the fast -evolving payment service s tartups, popularly known as the “FinTech’s”, under the regulatory ambit of the central bank.
This paved way for the Bank to build stronger collaboration and cooperation with the FinTech industry to achieve the shared goals to promote innovation and a safe payments ecosystem.
Further to building a safe payments ecosystem as well as promoting innovation, the Bank launched the Regulatory Sandbox to support responsible innovation and nurture new business models in a controlled environment under the supervision of the Bank.
Among others, the sandbox has enabled the Bank to understand the risks these innovations pose to the digital payments ecosystem to better mitigate them.
It also has the adde d advantage of potentially reducing the go-to-market time frame for innovators.
Chairman, in anticipation of our role as a central bank in an emerging digital economy, the Bank is looking forward to developing emerging innovations such as digital assets to expand investment options .
In addition, the Bank has initiated steps to develop guidelines for the regulation of Digital Credit delivery in Ghana to provide an optimal balance between innovation and financial stability.
This important step, will among others, strengthen digital credit delivery, facilitated by partnerships between lending institutions and FinTech companies that are leveraging technologies such as Artificial Intelligence based on the digital footprints of consumers.
Conclusion 16.
In conclusion, Mr.
Chairman, let me emphasise that a stable economy supported by a sound financial and payment ecosystem, play critical roles in attracting investment for national development .
Through the Bank’s regulatory oversight , banks and other financial institutions provide transparent and secure services to the diaspora community , with positive feedback on the economy.
In the outlook, the Bank remains committed to its mandate of price and financial stability and will continue to engage with stakeholders to strengthen diasporan relations.
On this note, let me once again thank the Canadian High Commission, Fidelity Bank Ghana Ltd.
and GIZ for making this Forum possible.
15TH ANNIVERSARY OF THE ESTABLISHMENT OF THE COLLATERAL REGISTRY KEYNOTE ADDRESS READ ON BEHALF OF DR.
JOHNSON PANDIT ASIAMA, GOVERNOR, BANK OF GHANA BY DR.
ZAKARI MUMUNI FIRST DEPUTY GOVERNOR, BANK OF GHANA ALISA HOTEL JUNE 11, 2025 The Minister of Finance, Honourable Dr.
Cassiel Ato Forson Board of Directors present Past Registrars of the Collateral Registry Representatives from Banks and Specialized Deposit Taking Institutions Colleagues from the Bank of Ghana Distinguished Guests, Ladies and Gentlemen, Good morning.
It is a great pleasure to welcome you all to this special event marking the 15th anniversary of the Collateral Registry of Ghana.
Fifteen years ago, access to credit in Ghana was often constrained by rigid collateral systems, fragmented legal frameworks, and limited transparency.
For small business owners, access to finance was a distant hope.
Today, because of the work we celebrate here, more Ghanaians can secure financing using movable assets – from vehicles to machinery to inventory.
As we reflect on the journey of the Collateral Registry, it is important to recognize its role in transforming our credit market and supporting financial inclusion, especially for small and medium -sized enterprises (SMEs).
More than a registry, it has become a tool of empowerment.
Building a Modern Credit Infrastructure 4.
The Registry was established under the Borrowers and Lenders Act, 2008 (Act 773), later repealed and replaced with the 2020 Act (Act 1052).
Its creation was a response to a fragmented system for secured credit, where multiple laws coexisted without offering a clear or efficient path for lenders and borrowers.
Before its establishment in February 2010, lending was hampered by information asymmetry, limited data on collateral, and a preference for immovable assets.
The lack of a streamlined framework increased risk for lenders and restricted credit access for businesses without land or buildings to pledge.
The Collateral Registry addressed these challenges head -on.
By creating a centralized platform for the registration of both movable and immovable assets, the Registry offered lenders a trusted and transparent system to assess credit risk and protect their security interests.
Driving Transparency, Risk Management and Access 7.
Since its inception, the Registry has played a central role in reducing information asymmetry between borrowers and lenders.
Lenders can now verify, in real time, whether an asset has been pledged, drastically reducing risk and making credit more accessible.
The ability to register and search collateral has improved credit risk management.
Today, financial institutions make better -informed lending decisions, and borrowers benefit from more predictable and efficient processes.
Importantly, the Registry has also streamlined the enforcement of security interests.
Instead of prolonged court proceedings, lenders may now obtain a Memorandum of No Objection from the Registry, allowing them to realize security interests more efficiently.
To date, over 4,450 such certificates have been issued.
Catalyst for Financial Inclusion 10.
Beyond supporting formal banking processes, the Collateral Registry has expanded the frontier of financial inclusion.
MSMEs, who often lack traditional forms of collateral – can now use movable assets like stock, receivables, and tools of trade to secure credit.
This is a significant step toward democratizing finance in Ghana.
By unlocking access to credit for underserved groups, the Registry has contributed meaningfully to job creation, business resilience, and local economic growth.
The Next Chapter: Innovation and Collaboration 12.
As we look ahead, our vision for the Registry is ambitious.
We are investing in advanced technologies- including artificial intelligence, to enhance the system’s efficiency, security, and user experience.
We are also undertaking policy and regulatory reforms to ensure the legal framework remains agile and responsive to the evolving credit landscape.
Furthermore, we will deepen partnerships – with institutions such as the Driver and Vehicle Licensing Authority (DVLA), the Office of the Registrar of Companies (ORC), the Lands Commission, the International Finance Corporation (IFC), and the Swiss State S ecretariat for Economic Affairs (SECO).
These collaborations will introduce global best practices and technical support to drive further impact.
Conclusion: A Future Worth Building 15.
Ladies and gentlemen, the Collateral Registry has become a pillar of Ghana’s financial architecture, a quiet but powerful enabler of enterprise.
As we mark this 15 -year milestone, let us also recommit to the future.
A future where access to credit is not a privilege, but a pathway to opportunity, for every entrepreneur, every farmer, every innovator.
Let us continue to build a system that works for all Ghanaians.
A system that is resilient, inclusive, and empowering.
Post-MPC Meeting with CEOs of Banks Remarks by Dr.
Johnson P. Asiama Governor, Bank of Ghana 3rd June 2025 Good morning, colleagues.
Let me begin by warmly welcoming all of you to this post-MPC engagement.
These engagements remain an important anchor for transparency, coordination, and clarity around our policy actions and expectations.
I value your continued commitment to this format, and I intend to keep it as a standing touchpoint following every Monetary Policy Committee meeting.
Let me begin with a brief update on the policy stance.
Policy Decision – Holding the Line At our most recent MPC meeting, the Committee unanimously decided to maintain the policy rate at 28 percent.
This decision reflects our commitment to sustaining the disinflation process, which —while encouraging—is not yet complete.
Headline inflation has continued its steady decline, reaching 21.2 percent in April, supported by a stable exchange rate, tight liquidity conditions, and continued fiscal consolidation.
Our models now suggest that inflation could reach the medium -term target range as early as the first quarter of 2026, earlier than previously expected.
The cedi has also rebounded sharply —appreciating over 24 percent against the US dollar so far this year —while the external sector has delivered a record current account surplus and rising international reserves.
In this context, maintaining the policy rate sends a strong signal that we are not loosening prematurely.
It provides continuity and certainty as we reinforce price stability and safeguard the hard-won confidence returning to our markets.
Regulatory Announcements – Listening, Responding, Acting Let me now turn to five key regulatory measures the Bank is rolling out—each shaped by ongoing engagement with you, and aligned with our broader goals of financial stability, fairness, and market discipline.
CRR Directive – Aligning Liquidity with Funding Structures First, you will recall the new Cash Reserve Ratio (CRR) directive announced in the MPC statement.
This came after careful internal deliberation and consultations with some of you.