ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
In line with the implementation schedule, the Bank of Ghana has commenced registration of virtual asset providers ( including crypto exchanges, wallet providers, custody services, and issuers of digital assets like stablecoins) operating in Ghana as part of data gathering and market assessment purposes.
The Bank of Ghana has again shown leadership in the space of digital currency by piloting the Central Bank Digital Currency (CBDC), the e-Cedi, as a way of preserving monetary sovereignty, strengthening monetary policy transmission, and providing a legal, safe, and programmable alternative to private digital assets.
Ladies and Gentlemen, as you may be aware, the Ghana cedi has appreciated cumulatively by 37.04% year-to-date (October 17, 2025), reversing the sharp 19.2% depreciation in 2024 - a powerful signal of improving fundamentals and policy credibility.
According to the World Bank , the cedi is the best performing currency in Sub-Saharan Africa in the first eight months of 2025 .
Inflation has eased to 8.0% in October 2025 from 23.8% in December 2024, driven by tight monetary policy stance, exchange rate stability, and a broad moderation in price pressures.
Gross international reserves increased to US$1 1.4 billion, equivalent to 4.
8 months of import cover, offering a meaningful cushion against external risks; amidst a strong trade surplus of US$6.8 billion in September 2025.
The central question on everyone’s mind —and boldly captured in this year’s conference theme—is the sustainability of the cedi’s stability in the face of emerging financial disruptions.
These gains reflect deliberate action by the Bank of Ghana , working collaboratively with Government to implement strategy initiatives anchored on restoring stability, rebuilding market confidence, and laying the foundations for sustained growth.
We shall continue to sustain the gains through robust implementation of monetary policy, reserve management, the Gold-for-Reserve Programme and stable remittance flows.
While the stability of the cedi could be threatened by global dynamics, including a possible rebound in the US dollar or reduction in commodity prices, our domestic policy stance is strong enough to cushion such shifts.
We have strengthened enforcement and monitoring efforts in foreign exchange market to ensure effective regulation, fair pricing, transparency and reduced incentive for speculative arbitrage.
As we commemorate the 60th anniversary of the issue of the cedi, I pronounced that the market dynamics have changed in reflection of the policy environment and holding dollars in anticipation of a return to currency depreciation may not be a wise choice.
We should all reaffirm our collective responsibility to protect the value and integrity of the currency.
In addition to being a medium of exchange, the Cedi is a symbol of our pride, heritage and shared aspirations for a prosperous future.
Importance of Ethics 12.
Ladies and gentlemen, ethics is not cost; it is a strategic investment.
It is the foundation on which trust, innovation, and resilience are built.
Trust is a bank’s greatest asset, essential for long -term success in today’s competitive financial landscape.
Customers and investors choose banks that act ethically, transparently and sustainably.
While ethics is the backbone of trust, Mr.
Chairman, Ghana’s banking sector continue to face significant challenges in upholding these standards.
Unethical practices remain widespread, with staff-related fraud on the rise.
The 2024 Bank of Ghana (BoG) Fraud Report reveals a 5% rise in reported fraud cases, with a total value at risk increasing by 13% to approximately GH¢99 million.
The report highlights a surge in forgery, document manipulation, and identity theft.
Notably, t here was a significant increase in staff -involved fraud and fraud ulent activities within the Payment Service Providers (PSP) sector, raising serious concerns about internal controls and ethical compliance across the industry .
These issues threaten institutional integrity and public confidence, highlighting the urgent need for stronger ethical frameworks and accountability.
To this end, the Bank of Ghana and CIB Ghana have formed a strategic partnership aimed to strengthen ethical standards and professionalism among banking professionals in Ghana – an initiative aimed at restoring public trust, curbing fraud, and fostering a sustainable banking culture.
As a key outcome of this collaboration, CIB Ghana, in collaboration with the Bank of Ghana and the Ghana Association of Banks, has developed the Ghana Banking Code of Ethics and Business Conduct for banks in Ghana as well as an E -learning Programmes to promote best banking practices and high ethical standards within the banking sector.
Given the persistent rise in unprofessional conduct and banking practices, and the need to develop a workforce of trustworthy, ethical and competent professional bankers, the Bank of Ghana has given approval in principle to CIB Ghana’s proposed mandatory Ethics Certification Programme for all banking professionals.
This certification programme will form part of Bank of Ghana’s fit and proper assessment criteria for key management personnel and directors.
The Chartered Institute of Bankers has also introduced the CIB Ghana Digital Academy Programme to equip banking professionals with both cutting -edge digital competencies and strong ethical foundations, ensuring they thrive responsibly in an ever-evolving financial landscape.
Recent Regulatory Reforms 18.
Distinguished Ladies and Gentlemen , t he Bank of Ghana has demonstrated unwavering commitment to strengthening ethical standards through series of regulatory reforms.
These include the introduction of Sustainable Banking Principles, directives on consumer protection, enhanced governance frameworks, and stricter oversight of digital lending and market conduct.
These measures are designed to reinforce transparency, accoun tability, and professionalism across financial institutions, aligning Ghana’s banking prac tices with global ethical and prudential standards.
Conclusion 19.
Ladies and gentlemen , as our industry evolves, let us acknowledge that ethical conduct is no longer a choice; it is the defining standard that determines whether a business earns trust and thrives or loses credibility and fades away.
Financial institutions have the potential to drive positive changes and foster economic development.
To reali se this potential, financial institutions must commit to promoting ethical practices in ways that generate positive economic, social and environmental impact.
Importantly, financial institutions should purposefully embed these values within their business models, rather than treat them as peripheral or secondary considerations.
Embedding ethics at the heart of strategy ensures that every product, service, and decision reflects integrity, transparency, and accountability.
The Bank of Ghana remains committed to promoting an ethical banking industry.
As we mark this conference, let us leave with a renewed commitment to making ethics the heartbeat of Ghana’s banking sector – ensuring that integrity, transparency and accountability guide every decision and action.
BANK OF GHANA/BANK OF ENGLAND PAN-AFRICAN CENTRAL BANK GOVERNORS’ CONFERENCE WELCOME ADDRESS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA ACCRA, GHANA | 10–11 NOVEMBER Your Excellency, the British High Commissioner to Ghana, Mr.
Christian Rogg, Honourable Governors and Deputy Governors, Distinguished Directors and Advisors from our sister central banks, Colleagues and friends.
Good morning, and a warm welcome to Accra.
It is a joy to see so many familiar faces, and some new ones, gathered under one roof.
Let me begin with special recognition to my co -host, Clare Lombardelli, Deputy Governor for Monetary Policy at the Bank of England, whose leadership and friendship have helped make this gathering possible.
We are deeply honoured to welcome you all, from twenty-three central banks across our continent and beyond, to this maiden Bank of Ghana–Bank of England Pan-African Central Bank Governors’ Conference.
We gather not as policymakers behind podiums, but as custodians of public trust, men and women who know what it means to carry a nation’s expectations in a single policy rate.
In recent times, our roles have shifted – central banks are no longer judged only by policies we set, but by the trust we sustain.
Leading a central bank has never been for the faint-hearted.
We balance data with intuition, independence with coordination, and sometimes, optimism with insomnia.
And if we’re honest, that balance comes at a price, the constant awareness that calm can turn to crisis in a heartbeat.
And let me be honest, no one really tells you this before you become Governor: you never sleep the same again.
You start checking your phone not for messages, but for markets.
Even silence feels like a signal.
Yet for all the sleepless nights, there is something extraordinary about this calling, the quiet knowledge that, in moments of uncertainty, the country still trusts us to steady the ship.
Our responsibilities stretch across many dimensions of complexity, and I’ll share five that test the limits of leadership.
First, the economic complexity.
We are asked to deliver price stability, ensure financial soundness, and still support growth.
We must translate models into judgment, and judgment into policy, all in real time, with imperfect data and impatient citizens.
As one analyst once joked, “central bankers are expected to predict the future, and then be blamed for not changing it fast enough.”
Second, the political economy – the daily test of judgment and courage.
We operate in the crossfire of expectations: governments seeking growth, politicians seeking results, businesses seeking credit, markets seeking signals, and the public seeking relief.
Yet our duty is to defend the long-term horizon when everyone else is watching the next quarter.
Balancing these competing interests without losing credibility is an art few appreciate until they sit in the chair.
Third, the markets themselves.
Volatility is now a constant companion – currencies, commodities, capital flows – all moving faster than policy can find the words to respond.
One wrong signal, and sentiment can shift before sunrise.
We must act with speed, but never haste; and with prudence, but never paralysis.
Fourth, the court of public opinion.
Every decision we make is now instantly debated, often before the official statement is even out.
In a world of instant commentary, unpopular decisions, even when right, test not just our policies, but our composure.
We must communicate with clarity, consistency, and humility, even when the message is uncomfortable.
And fifth, technology and global interconnectedness.
We are facing unprecedented and unique pressures that demand a radical shift in operations, focus and capability; and we must adapt swiftly and boldly or risk losing relevance.
The rapid adoption of technology, AI and digital payment systems is putting pressure on how the central bank ensures safety and control; and while the central mandate is not changing, the context in which we execute our mandate is evolving rapidly.
We face these challenges together, though in different languages, time zones, and fiscal positions.
And that is why this meeting matters.
Over the next two days, our aim is not to deliver lectures, but to exchange truths.
These discussions are designed not for theory, but for candour and insight.
We will reflect on effective governance, central bank independence, accountability, and the courage to make difficult decisions, not as theory, but as lived experience, shared candidly.
Just last Thursday, I attended a gathering of regulators at Mansion House in the City of London, hosted by the Commonwealth Enterprise and Investment Council, where regulators and private- sector players from across the world, as well as regulators including the FCA, came together to exchange ideas openly.
What struck me most was not the agenda itself, but the spirit of collaboration: regulators learning from one another, testing assumptions, and listening with respect.
It reminded me that our profession advances not only through policy, but through partnership.
It is in that same spirit that we are here in Accra.
This conference seeks to: 1.
Facilitate peer-to-peer learning on leadership and institutional credibility; 2.
Deepen understanding of how independence and accountability can coexist; 3.
Share practical lessons from moments of stress and resilience; and 4.
Strengthen our regional network of governors for continuous dialogue.
And in doing so, we also reaffirm the partnership between the Bank of Ghana and the Bank of England, a collaboration that has strengthened our institutional capacity and reminded us that credible central banking is both a science and an art.
For us at the Bank of Ghana, this partnership has been more than technical; it has been transformational.
The lessons we draw from it are not ours alone.
They speak to a broader African story, one of resilience tested by global shocks and renewal shaped by our own reforms.
Colleagues, Africa stands at an inflection point.
Growth is returning – projected at 4.1 percent in 2025, above the global average – and inflation across Sub-Saharan Africa, which averaged 21.6 percent in 2023, is easing.
But beneath this progress lies fragility: high borrowing costs, thin buffers, and fiscal strains that can undo years of reform in months.
Our stability is real – but it is still young, still being tested.
Just three years ago, my own country Ghana was in the grip of what the World Bank called a “home-grown crisis.”
Inflation reached 54.1 percent, the cedi had lost half its value, and reserves had fallen to less than one month of import cover.
Confidence was evaporating faster than reserves.
When my team and I assumed office in 2025, our single focus was stabilisation.
We tightened policy, sterilised liquidity, and spoke frankly with markets and citizens alike.
Behind those numbers is the story of a country that chose discipline over despair.
Today, inflation has fallen to 8 percent, the first single-digit rate since 2021.
Reserves are up to US$11.4 billion (4.8 months of import cover in September 2025), the cedi has appreciated 34.9 percent year-to-date, reversing athe 19.2 percent depreciation of 2024.
And our trade surplus has tripled to US$6.2 billion in the first eight months of 2025, with the current account projected at a 5 percent surplus of GDP.
I share this not as self-congratulation, but as proof of principle: credibility and transparency work.
Discipline works.
And perhaps most importantly – patience works.
But numbers tell only part of the story.
The harder part is leadership, the quiet resolve to stay the course when the path is least certain.
Permit me to share a few brief thoughts on leadership in modern central banking.
The real test of leadership is not in numbers.
It is in moments of uncertainty – when models fail and everyone wants certainty you cannot yet prove.
Every governor in this room has lived that moment: the silence after a rate hike, before the markets respond, before the critics awaken.
Those moments define leadership.
And we have all faced them.
Take 2022: when inflation surged globally, it was African central banks that often moved first.
Over twenty of us raised rates by an average of 750 basis points between 2022 and 2024 – faster, sometimes braver, than our advanced-economy peers.
That was credibility in action: not because we were instantly right, but because we were consistently resolute.
But conviction alone is not enough.
In the end, stability depends not only on the courage to act, but on the discipline to collaborate.
At the Bank of Ghana, we have learned that independence is not isolation.
Monetary and fiscal authorities are like two drummers playing different rhythms, yet stability demands harmony.
Our policy decisions now weigh not only inflation forecasts, but fiscal signals and debt sustainability.
We aim for disciplined coordination, not political interference.
As one colleague put it: “You cannot fight inflation with one hand while financing deficits with the other.”
And then comes perhaps the hardest part: communication.
Markets move not only on what we do, but on how we explain it.
The Bank of England taught the world that transparency breeds predictability, and predictability builds trust.
And in our context, transparency must wear local clothes.
Our messages travel not just through Bloomberg terminals, but through WhatsApp groups, radio call-ins, and market stalls.
A single sentence from a governor can move the exchange rate faster than an intervention.
So, we must speak monetary truth in a language the public understands.
As I often tell my team: “A policy is only credible when it makes sense to the woman selling tomatoes down the road.”
Colleagues, as we deliberate over the next two days, I hope this conference yields more than resolutions, that it deepens our trust in one another, and strengthens the conviction that binds our community of governors.
For in the end, the true measure of our work will not be the communiqués we sign, but the confidence we inspire, in each other, in our institutions, and in the economies we serve.
May we leave Accra with renewed purpose, to lead with integrity, to decide with courage, and to draw strength from one another as we confront the challenges ahead.
Welcome once again to Accra, and I look forward to our discussions ahead.
NATIONAL PAYMENT SYSTEMS WORKSHOP 2025 OPENING REMARKS BY DR.
ZAKARI MUMUNI FIRST DEPUTY GOVERNOR, BANK OF GHANA 29 OCTOBER 2025 Distinguished guests, Stakeholders of the payments industry, Staff of Bank of Ghana, Ladies and gentlemen.
Good morning, and a warm welcome to you all.
It is a great pleasure to join you at this important stakeholder workshop on the Draft National Payment Systems Strategy (2025 –2029).
I am delighted to see such a diverse representation of stakeholders gathered here to help shape the future of Ghana’s payments and fintech ecosystem.
Your presence affirms our shared commitment to advancing a safe, efficient, and inclusive digital financial landscape.
Over the past five years, under the National Payment Systems Strategy (2019 – 2024), Ghana has made remarkable progress in modernising its payment infrastructure.
We have witnessed the expansion of digital payment s channels, deepened interoperability across platforms, and strengthened regulatory frameworks that foster trust and innovation.
These collective efforts have enhanced access, empowered consumers, and positioned Ghana as one of Africa’s leaders in payment systems development.
Yet, our journey is far from complete.
We are now witnessing a transformative shift in the global financial landscape, driven by the rise of virtual assets and the rapid advancement of tokenisation technologies.
This evolution is redefining how economies operate, as digital platforms have become the new arena where value is created, exchanged, and distributed.
These platforms are revolutionising commerce and spurring innovation in financial service s, with payment systems serving as a critical network of bridges of a digital economy enabling seamless and real-time transactions.
Empirical research and lived experience have proven that payment systems interoperability promotes efficiency, convenience and improved access to financial service.
However, alongside these gains are a set of concerns that call for our collective attention.
The emergence of dominant digital platforms raises important questions about market competition, inclusiveness, financial stability, and resilience of payment systems.
To address these concerns, policymakers and regulators are implementing forward- looking strategies that preserve innovation while safeguarding stability.
These include promoting data interoperability, often referred to as open banking, and developing public digital infrastructures that lower entry barriers for mar ket participants.
Initiatives such as electronic Know Your Customer (eKYC) frameworks and trusted digital identity systems have made it easy and cost effective for non- bank entities to participate in the payment ecosystem, thereby expanding financial inclusion in new and meaningful ways.
Nonetheless, we have observed a surge in cybersecurity threats and online fraud as the adoption of digital financial services accelerates , almost mirroring the pace of growth in digital transactions.
We must not allow these risks, though formidable, to erode the considerable progress we have made.
Our collective resolve, spanning regulators, innovators, and industry stakeholders is stronger than the challenges confronting us.
Together, we possess the capability and resilience to safeguard trust and integrity within the digital financial ecosystem.
This brings us to the essence of today’s gathering.
The transition to the new National Payment Systems Strategy (2025-2029) represents not just continuity, but transformation.
It is an opportunity to reimagine our payment systems for the next phase of Ghana’s digital economy; one that is more resilient, inclusive, and globally competitive.
This workshop marks a critical step in that transformation.
It provides a platform for open dialogue, evidence -based reflection, and strategic alignment.
The draft strategy, we will discuss in the next few days , has been designed as a living document that must draw on the collective wisdom, experiences, and aspirations of all stakeholders present.
The insights shared today will help refine its priorities, strengthen its relevance, and ensure it remains responsive to the fast -evolving payments environment over the next five years.
I wish to commend the resolute team within the Bank of Ghana who led the review of the 2019–2024 Strategy and coordinated the development of this draft strategy document.
I also express my appreciation to our partners; commercial banks, Fintechs, payment service providers, mobile money operators, and development agencies for your invaluable contributions and continued collaboration.
Together, we have laid a solid foundation, and together, we must now build upon it.
As we deliberate the future direction of our payment system, I encourage you to share your insights and perspectives with candour, challenge assumptions constructively, and propose forward -looking ideas that support our shared ideals of inclusion, stabilit y, trust, and resilience.
Let us use this forum to strengthen partnerships, deepen mutual understanding, and align our efforts toward our shared vision anchored on secure, efficient, innovative, and accessible payment systems.
On this note, I officially declare this stakeholder workshop open.
I wish you productive discussions and meaningful engagement.
NATIONAL LAUNCH OF THE 60TH ANNIVERSARY CELEBRATION OF THE CEDI THEME: “60 YEARS OF THE CEDI: A SYMBOL OF SOVEREIGNTY, STABILITY AND ECONOMIC RESILIENCE” WELCOME REMARKS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA ACCRA INTERNATIONAL CONFERENCE CENTRE 28 OCTOBER 2025 2 Your Excellency, Professor Naana Jane Opoku-Agyemang, Vice President of the Republic of Ghana, Rt.
Speaker of Parliament, Alban Sumana Kingsford Bagbin, His Lordship, the Acting Chief Justice, Honourable Ministers of State, Members of the Council of State, Members of Parliament, Members of the Diplomatic Corps, Distinguished Governors and Representatives of Sister Central Banks, Chief Executives of Banks and Financial Institutions, Captains of Industry, Traditional Authorities, Development Partners, Members of the Media, Fellow Ghanaians, Distinguished Ladies and Gentlemen: Good Morning.
This morning, we gather not only to mark a milestone but to begin a national journey of rediscovery, one that reaches into the past to inform our future.
The Cedi@60 initiative is more than a celebration of longevity.
It is a year -long national engagement that will blend public education, policy dialogue, and historical reflection.
Through exhibitions, community forums, lectures, and digital outreach, we hope to bring the story of our currency to every Ghanaian home , from urban centres to remote towns, from classrooms to boardrooms.
For many, the Cedi is something we interact with daily but perhaps do not reflect on deeply.