ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
Ladies and gentlemen, t he Bank of Ghana is open to working with UKGCC and the member companies to ensure that our policies are geared towards long -term stability, competitiveness, and common prosperity.
We believe that sustained engagement, openness to feedback and constructive criticism, as well as collaboration between policymakers and the private sector are essential to building a resilient and dynamic economy.
I look forward to a productive and fruitful discussion this afternoon as I welcome you once again to Bank of Ghana.
STRATEGIC PARTNERSHIP FOR CAPACITY BUILDING AND TECHNICAL ASSISTANCE PROGRAMME BETWEEN THE BANK OF GHANA AND THE CENTRAL BANK OF LIBERIA REMARKS BY MRS.
MATILDA ASANTE-ASIEDU SECOND DEPUTY GOVERNOR BANK OF GHANA FARMINGTON HOTEL, MONROVIA, LIBERIA 13 FEBRUARY 2026 Your Excellency, the Executive Governor, Honourable Henry F. Saamoi, Distinguished Colleagues, Ladies and Gentlemen, It is my distinct honour and privilege to stand before you today to convey warm greetings from the Bank of Ghana.
I bring special greetings from the Governor of the Bank of Ghana, Dr.
Johnson Pandit Asiama, who, regrettably, is unable to be present with us on this important occasion.
He extends his best wishes to all gathered here and has entrusted me with the responsibility of representing him at this significant event —the formal establishment of a Strategic Partnership for Capacity Building and Technical Assistance Programme between the Bank of Ghana and the Central Bank of Liberia.
Your Excellency, Over the years, the Bank of Ghana and the Central Bank of Liberia have cultivated a relationship characterised by mutual respect, shared aspirations, and constructive engagement.
As sister central banks operating within a dynamic regional and global economic landscape, we have long recognised the immense value of collaboration and the exchange of expertise.
Today marks a historic milestone in our relationship as we formally deepen and strengthen it through the signing of this Memorandum of Understanding (MoU).
This MoU represents our collective commitment to delivering effective technical assistance, advancing capacity-building initiatives, and providing mutual support in key areas of central banking operations.
The scope of this MoU encompasses critical areas at the heart of modern central banking, including: • Macroeconomic forecasting and policy analysis; • Monetary policy analysis and operations; • Reserve management and gold purchase operations; • On-site examination and off-site supervision of commercial banks; • Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT); • Central bank communication strategies; • Central bank digital currency and cryptocurrency; • Currency design, printing, minting, and management; • The application of artificial intelligence to core central banking activities; and • Any other mutually beneficial areas of central banking that may emerge as our partnership evolves.
These areas reflect not only the traditional pillars of central banking , but also the innovative frontiers that will define the future of our institutions and the economies we serve.
This partnership is founded on the principle that our collective strength far exceeds our individual capabilities.
By formalising our collaboration through this MoU, we are establishing a structured framework for knowledge transfer, technical cooperation, and institutional development that will benefit both our central banks.
Your Excellency, as we proceed with the signing of this MoU, we look forward to your continued support in making this strategic partnership a resounding success.
Distinguished Ladies and Gentlemen, thank you for your attention.
May this partnership strengthen our institutions and further advance the shared prosperity of our two nations.
Post-MPC Engagement with Heads of Banks Opening Remarks by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana Bank Square, Bank of Ghana | Wednesday, February 18, 2026 Chief Executive Officers and Heads of Banks, Deputy Governors, Officials of the Bank of Ghana, Distinguished Ladies and Gentlemen.
It is my pleasure to welcome you to this post-MPC engagement.
The quality of a financial system is determined by how openly its leaders confront risks and adapt to change.
This forum provides that space.
It allows us to be candid about challenges, clear about expectations, and aligned on the path forward .
I would like to begin by thanking you for the constructive engagement and cooperation over the past year, which has been instrumental in the effective implementation of key regulatory and policy measures.
Ladies and Gentlemen, the Monetary Policy Committee held its 128 th meeting in January 2026, at a time when both the global and domestic environments were improving.
With inflation declining faster than anticipated and expectations well anchored, the Committee judged that monetary conditions remained sufficiently tight relative to prevailing inflation dynamics.
Consequently, the MPC, by a majority decision, reduced the Monetary Policy Rate by 250 basis points to 15.50 percent.
Globally, growth in 2025 proved more resilient than expected, supported by easing inflation, improving real incomes, and strong investment momentum in key sectors.
Financial conditions have eased, and the outlook for 2026 points to steady, though uneven, growth.
These developments provide a more supportive external backdrop for emerging and frontier economies, including Ghana.
Domestically, macroeconomic conditions have strengthened meaningfully.
Real GDP growth improved, with the economy expanding by 6.1 percent in the first three quarters of 2025, driven largely by services and agriculture.
The Bank’s Composite Index of Economic Activity confirms sustained momentum across trade, private sector credit, industrial output, and consumption.
Business and consumer confidence have improved, supported by easing inflation, exchange rate stability, and expectations of lower borrowing costs.
Inflation declined sharply from 23.8 percent in December 2024 to 5.4 percent by December 2025, and further to 3.8 percent in January 2026 , the lowest level recorded since the adoption of inflation targeting.
This disinflation has been broad -based, supported by tight monetary policy, fiscal consolidation, and exchange rate appreciation.
Inflation expectations remain well anchored across households, businesses, and the financial sector.
As monetary conditions have adjusted, money market and lending rates have declined, and real private sector credit growth has begun to recover, signaling the gradual transmission of easing to the real economy.
Fiscal consolidation has also been supportive, with a lower deficit, a strong primary surplus, and a marked decline in public debt.
On the external front, strong export earnings, private transfers, and prudent demand management have supported a balance of payments surplus and a build-up in reserves, providing important buffers for the economy.
Colleagues, with macroeconomic stability improving and regulatory reliefs now behind us, the conversation must shift from resilience to structure.
Stability has been restored.
The task ahead is to strengthen the underlying architecture of the banking sector.
Over the past year, the Bank undertook a thematic review of banks’ business models, examining funding structures, asset allocation patterns, earnings composition, and governance effectiveness under both baseline and stress scenarios.
The review confirms that the sector remains viable and profitable.
At the same time, it highlights structural features that merit reflection as we move into a more normalised macroeconomic environment.
Financial intermediation remains modest, with loans accounting for less than one -fifth of total assets across the industry.
Asset concentration in sovereign and central bank instruments remains elevated.
Most notably, approximately 68 percent of industry profitability continues to be driven by net interest income.
There is nothing inherently problematic about net interest income.
However, a high dependence on it increases sensitivity to interest rate cycles and sovereign exposure dynamics.
As margins compress in a normalising rate environment, earnings resilience will increasingly depend on diversification , particularly through transactional banking, trade services, payments, treasury activities, and other fee -based income streams that are less balance-sheet intensive.
Similarly, while non-performing loans have declined, they remain above benchmark levels.
As credit expansion resumes, underwriting discipline and sectoral risk assessment will be critical.
Stability must now translate into purposeful intermediation, supporting agriculture, manufacturing, SMEs, and value -adding sectors , without reintroducing asset quality pressures.
Business model analysis will now form an embedded part of supervisory assessment, supporting the early identification of emerging risks and enabling timely policy and supervisory interventions.
Our recent assessment of Security Operations Centre (SOC) arrangements reveals that about 87 percent of the banks evaluated maintain fully continuous, 24/7 monitoring, with most operating either entirely through local teams or with group-supported oversight.
This demonstrates a strong and commendable recognition of cyber risk as a central operational priority.
At the same time, the review highlights areas that merit collective attention.
A small number of institutions continue to operate with limited monitoring coverage or incomplete log reporting.
Given the increasing sophistication and frequency of cyber threats, any gaps in visibility may lead to delayed detection and heightened systemic vulnerability, underscoring the importance of ongoing vigilance and coordinated efforts across the sector.
Ladies and gentlemen, s tructural strengthening is not limited to balance sheets and cyber resilience.
It also requires institutional and market deepening.
Parliament has recently passed the Bank of Ghana (Amendment) Act, 2025, reinforcing the Bank’s operational independence while strengthening transparency and accountability.
This reform enhances policy credibility and strengthens the institutional foundatio n within which monetary policy and supervision are conducted.
In addition, the Virtual Asset Service Providers Act has now been enacted, establishing a formal regulatory perimeter for digital asset activities in Ghana.
The next phase is operationalisation.
We are working on the regulatory frameworks, supervisory processes, and coordination mechanisms necessary to bring the Act fully into effect in a structured and orderly manner.
Banks are not observers in this space.
Virtual assets will interact with the banking system through settlement accounts, custody arrangements, compliance infrastructure, and payment channels.
Institutions that build capacity in digital asset risk assessmen t, transaction monitoring, and technology governance will be better positioned to participate responsibly.
We are not creating a parallel financial system; we are extending the perimeter of the existing one.
At the same time, the Bank of Ghana has inaugurated Steering and Technical Committees to guide work on encouraging more banks to list on the Ghana Stock Exchange.
This initiative brings together key institutions across the financial system, including the Bank of Ghana, the Securities and Ex change Commission, the Ghana Stock Exchange, the Ministry of Finance, the National Insurance Commission, the Ghana Securities Industry Association, the Central Securities Depository, and the Ghana Association of Banks.
Listing is not only about capital raising.
It broadens ownership, strengthens governance, deepens transparency, and anchors banks more firmly in domestic long -term savings, enhancing resilience and trust in the system.
Colleagues, stability has been restored.
The task now is durability.
Durability requires stronger business models, broader ownership, deeper intermediation, disciplined innovation, and sound governance.
The Bank of Ghana will continue to engage as a firm, fair, and forward-looking partner, supportive where necessary, but clear in its expectations.
We will walk this next phase together, with shared responsibility for building a banking system that is not only stable but structurally positioned to support Ghana’s long -term transformation.
1 Inauguration of the Steering and Technical Committees Bank Listing Project Opening Remarks By Dr.
Johnson Pandit Asiama Governor, Bank of Ghana Good afternoon, colleagues.
Let me begin by welcoming you and thanking you for agreeing to serve on these Committees.
Your willingness to take on this responsibility reflects a shared understanding that Ghana’s financial system is at an important inflection point , and that the choices we make now will shape its resilience and credibility in the years ahead.
The Bank Listing Project is not a technical or procedural exercise.
It is a strategic response to structural changes already underway in our financial system.
Macroeconomic stability has improved, confidence is returning, and domestic long-term capital is growing rapidly.
Pension fund assets, for example, now exceed GH¢100 billion, making them one of the largest pools of investible capital in the economy.
At the same time, the role of markets in the financial system is becoming more pronounced.
Several of our listed banks already have pension funds holding between 15 and 35 percent of their equity, demonstrating that domestic institutional investors are willing and able to anchor bank ownership when the right frameworks are in place.
Listing banks, therefore, is not about transactions for their own sake.
It is about transparency, market discipline, and deliberately connecting long-term domestic savings to the banking system in a way that supports sustainable growth.
This Project also recognises an important reality: Ghana’s banking sector is not homogeneous.
While a number of banks are already listed, many remain wholly or predominantly owned by foreign parent groups, and others are state-linked.
A credible listing framework must therefore be flexible and sequenced, recognising different ownership structures while maintaining high prudential and governance standards.
The work before you sits at the intersection of banking supervision, capital markets, financial stability, and monetary policy transmission.
As banks become more market -facing, equity prices, valuations, and investor sentiment increasingly influence confid ence and behaviour.
These dynamics matter for financial stability and for how monetary policy transmits through the economy.
2 This is why the composition of these Committees is deliberate.
I am pleased that we have brought together leadership from Financial Markets, Financial Stability, Banking Supervision, academia, and key stakeholders.
This diversity of perspective is essentia l to ensuring that market development and financial stability advance together.
Your task over the coming months is to deliver a framework that is practical, credible, and grounded in Ghana’s realities, one that supports orderly bank listings, strengthens governance, mobilises long-term capital, and preserves confidence in the financial system.
I encourage you to approach this assignment with rigour, openness, and a strong sense of public responsibility.
The Secretariat will support you fully, and Management will remain closely engaged as the work progresses.
Once again, thank you for your service.
I wish the Steering Committee and the Technical Committee fruitful deliberations, and I look forward to the outcomes of your work.
AFRICAN PROSPERITY DIALOGUE (APD) 2026 CROSS BORDER PAYMENTS AND DIGITAL FINANCE SYSTEMS IN AFRICA KEYNOTE ADDRESS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA READ ON HIS BEHALF BY: MRS.
MATILDA ASANTE-ASIEDU SECOND DEPUTY GOVERNOR BANK OF GHANA ACCRA INTERNATIONAL CONFERENCE CENTRE 4–6 FEBRUARY 2026 Your Excellencies, Heads of State and Government, Honorable Ministers, Distinguished Business Leaders and Investors, Innovators, Development Partners, Ladies and Gentlemen.
I bring you warm greetings from the Bank of Ghana and on behalf of the Governor, who regrettably could not be with us this morning.
He conveys his best wishes and has asked me to represent him.
Let me start by commending Mr.
Gabby Otchere-Darko and the team at the Africa Prosperity Network for sustaining this important convening platform and for selecting a theme that speaks directly to Africa’s development priorities: “Empowering SMEs, Women and Youth in Africa’s Single Market: Innovate.
Trade.”
This theme reminds us that Africa’s integration is not an abstract policy ambition.
It is about people.
It is about whether a young innovator in Accra, a woman trader in Kisangani, or a small enterprise in Lusaka can access markets across borders with confidence and efficiency.
At the centre of this transformation lies one critical enabler , efficient cross -border payments and digital finance systems.
Ladies and Gentlemen, as Africa advances implementation of the African Continental Free Trade Area, one truth has become increasingly clear: Trade agreements alone do not create trade.
Payments make trade possible.
Without secure, affordable, and reliable means of transferring value, the promise of a truly integrated African market cannot be achieved.
Payment systems are strategic trade infrastructure , essential for monetary stability, financial integration, and long-term economic transformation across our continent.
Cross-Border Payments in Africa: Challenges and Opportunities Despite Africa’s enormous economic potential, cross-border payments remain expensive, slow, and fragmented.
Transaction costs for intra-African payments often exceed 7 to 10 percent, compared with a global average of about 3 percent .
Settlement times can extend from days to weeks.
More than 80 percent of intra -African payments are routed through correspondent banks outside the continent, largely in foreign currencies.
This costs Africa an estimated US$5.3 billion annually and exposes our economies to foreign exchange risks.
Yet amidst these challenges lie tremendous opportunities.
AfCFTA brings together a market of over 1.5 billion people and a combined GDP of approximately US$2.8 trillion.
If fully implemented, intra-African trade could double in the medium term.
But this growth will only materialise if our payment systems match Africa’s trade ambitions.
Thankfully, Africa has already demonstrated global leadership in digital finance innovation.
With more than half of the world’s mobile money accounts, the continent has shown how technology can expand financial inclusion and transform livelihoods and Ghana stands as a notable example.
Digital finance has become a lifeline for households, microenterprises, women, and underserved communities.
However, much of this progress remains domestic rather than continental.
For digital finance to fully empower Africa’s single market, inclusion must extend across borders - not only within them.
In Ghana, we have deliberately built a modern, interoperable, and resilient payment ecosystem.
Investments in digital public infrastructure have enabled interoperability across banks, mobile money operators, and fintech institutions, supporting real -time payments across our economy.
These domestic successes provide a strong platform for regional integration.
Ghana is an active participant in the Pan-African Payment and Settlement System - PAPSS, which enables cross -border payments in local African currencies, shortens settlement chains, and lowers costs for African traders.
Our vision is clear and deliberate: African trade must increasingly be settled in African currencies , through African infrastructure, and supported by African institutions.
Central banks play a vital role in fostering innovation, while safeguarding financial stability and public confidence.
At the Bank of Ghana, we are advancing key initiatives including: • Fintech Passporting, through collaboration with the National Bank of Rwanda to enable cross-border licensing and regulatory trust.
This is a solution that can be scaled across the continent.
• Our Africa Next-Generation Digital Public Infrastructure Initiative, is testing multilateral interoperability frameworks, settlement models, and future cross- border digital currency arrangements.
• The Virtual Asset Service Providers Act recently passed by Ghana’s parliament is designed to support emerging digital payment channels while ensuring strong consumer protection and risk oversight.
These initiatives recognise that payment systems constitute critical national and continental infrastructure requiring robust cybersecurity, regulatory coordination, and trusted governance frameworks.
This agenda is fundamentally about inclusive growth.
SMEs account for over 90 percent of African businesses .
Women dominate informal cross-border trade.
Young Africans are leading the continent’s digital entrepreneurship revolution.
Yet, high transaction costs and payment inefficiencies disproportionately affect these groups.
Therefore, removing payment barriers will unlock scale, strengthen competitiveness, and expand opportunity across Africa.
Policy Priorities and the Way Forward As we look ahead, our collective priorities must include: • Harmonising regulatory standards across borders, particularly in KYC/AML, consumer protection, data sharing, and dispute resolution.
• Advancing license passporting across African countries-Ghana and Rwanda are already leading the way.
• Strengthening Digital Public Infrastructure.
• Expanding cross-border mobile money and instant payment pilots.
• Broadening digital onboarding and payment acceptance infrastructure for SMEs.
• And strengthening cybersecurity and operational resilience frameworks.
Conclusion Distinguished Ladies and Gentlemen, Africa’s single market will not be achieved by aspiration alone.
It will be realised when: • Value moves as seamlessly as ideas, • Entrepreneurs transact across borders without friction, and • Innovation is supported by trust and strong institutions.
If we innovate with purpose, collaborate with conviction, and build systems that serve trade, cross-border payments will transform from a constraint into a powerful catalyst for Africa’s shared prosperity.
At the Bank of Ghana, we stand ready to collaborate with all partners to help realise this vision.
128th Monetary Policy Committee Meeting Opening Remarks by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana 17th Floor, Tower Block, Bank Square | 26 January 2026 Distinguished guests, colleagues, members of the financial press, the good people of Ghana.
It is a pleasure to welcome you to the 128th Meeting of the Monetary Policy Committee, our first meeting of the year.
We are convening at a moment where on one hand all the economic indicators look good, but on the other these improved conditions remind us that the work has only begun and that more effort is needed to lock in stability .
I must say that this will test our monetary policy in 2026.
Since our last meeting, macroeconomic conditions have continued to improve.
Inflation declined to 5.4 percent at end-2025, with expectations well anchored.
External buffers have strengthened, with gross international reserves rising to US$13.8 billion, equivalent to 5.7 months of import cover.
This was supported by a current account surplus of 8.1 percent of GDP.
Economic growth up to the third quarter remains strong and leading indicators point to more growth ahead and this is engendering confidence in both consumers and businesses.
These outcomes confirm that recent policy choices are yielding results and that policy credibility has been restored.
But this meeting is not about touting the successes achieved but rather about analysing the data that will be presented to the committee to assess whether stability will be guaranteed going forward.
Globally, growth remains resilient, with projections around 3.3 percent into 2026 , even as geopolitical uncertainty persists.
While Ghana has benefited from favourable external conditions, particularly higher gold prices, we must remain mindful that these tailwinds may not be permanent.
Domestically, rapid disinflation has created policy space, but also raises important questions and policy issues.