ghananlpcommunity/ghana-gov-speeches-sentences huggingface dataset:
In the period ahead, the Bank of Ghana will continue to collaborate with stakeholders to convert diaspora inflows into long -term development capital; encourage the development of targeted financial instruments for diaspora investors; strengthen digital payment ecosystems for seamless diaspora onboarding; institutionalise regular diaspora engagement mechanisms; and enhance data systems to better track and leverage remittance flows.
Let me conclude by emphasising that the Ghanaian diaspora is not peripheral to our economy – it is central to our external stability, our investment strategy, and our economic transformation agenda.
If harnessed well, our Diaspora can become a reliable source of long -term capital, even during crises , and we must treat the diaspora as domestic investors abroad, not external senders.
Our next phase is not just about remittances; it is about turning diaspora income into long-term investment capital for Ghana.
Through this maiden Roundtable, our collective task is clear: to transform remittances into investment, and engagement into enduring economic partnerships.
The Bank of Ghana stands ready to work with you all to achieve this objective.
Page 1 of LAUNCH OF CYBER AND INFORMATION SECURITY DIRECTIVE (CISD) REMARKS BY DR.
JOHNSON PANDIT ASIAMA GOVERNOR, BANK OF GHANA 8TH FLOOR, URBAN BLOCK, BANK SQUARE 25 MARCH 2026 Page 2 of The Honourable Chief of Staff, Office of the President, The Honourable Minister for Communications, Digital Technology, and Innovations, The First Deputy Governor, Bank of Ghana, Directors-General of Sister Regulatory Institutions (NPRA, NIC, SEC), Chief Executive Officers and Managing Directors of Banks and Specialised Deposit -Taking Institutions, Presidents of the Ghana Association of Banks and other Industry Associations, Our Valued Partners from the Fintech Community, Distinguished Ladies and Gentlemen.
It is my distinct honour and privilege to welcome you all to the official launch of the Bank of Ghana's revised Cyber and Information Security Directive (CISD) 2026.
The theme for this launch, “A Safer and More Resilient Digital Financial Industry ”, is not merely a slogan; it is the central pillar of our regulatory philosophy and a commitment we make to every Ghanaian who entrusts their accounts and transactions to this sector.
Today marks a significant milestone in our journey to protect Ghana's financial ecosystem.
For years, our mandate has been clear: to ensure price stability and a sound financial system.
However, in this digital age, that mandate has expanded.
We are no longer just supervising capital adequacy ratios or liquidity positions; we are now, more than ever, safeguarding the confidentiality, integrity, and availability of the data that powers our economy.
THE EVOLVING LANDSCAPE Over the last decade, innovations like Mobile Money, Cloud Computing, and Artificial Intelligence have revolutionised financial access and inclusion.
They have brought banking to the unbanked and sped up commerce in ways we could only dream of.
However, this progress has also invited sophisticated and persistent information security risks.
From ransomware attacks that can paraly se a bank for days, to systemic data breaches that can shatter public trust in an instant, the threats we face are no longer just isolated IT incidents; they are national security concerns.
The Bank of Ghana recogni sed this shift years ago.
The first Directive, issued in 2018, laid the groundwork.
But we must be honest: a framework designed for the challenges of 2018 cannot Page 3 of adequately solve the problems of 2026.
The threat landscape has changed, and so must we.
We have moved beyond simple compliance toward a posture of active and collective cyber resilience.
THE CYBERSECURITY ACT AND OUR MANDATE This proactive stance is not just a matter of policy; it is a matter of law.
As you are aware, the Cybersecurity Act, 2020 (Act 1038) , specifically Sections 41 to 48, designates the Bank of Ghana's Financial Industry Command Security Operations Centre (FICSOC) as the Sectoral Computer Emergency Response Team (CERT) for the entire financial industry.
This is a responsibility we do not take lightly.
It mandates us to move beyond being a passive regulator and become an active defender and coordinator.
It is in this spirit that we have developed this revised Directive, to give legal and operational impetus to our collective defence.
KEY PILLARS OF THE CISD 2026 The 2026 Directive is built on the pillars of robust governance, clear accountability, and proactive defence.
It introduces several critical innovations designed to prepare us for the future: 1.
AI and Machine Learning Governance: As financial institutions increasingly adopt AI for fraud detection, credit scoring, and customer service, we must ensure it is done with rigorous governance.
This Directive provides the first comprehensive framework in the financial ecosystem to ensure these "black box" systems are fair, transparent, and secure.
Cloud Computing Security: We recognize that the risk -based, responsible, and secure adoption of cloud technology, specifically for the less critical aspects of our operations, is no longer optional; it is a business imperative.
However, let me be clear: this Directive does not endorse the wholesale migration of core systems or sensitive data to the cloud.
The Cybersecurity Act, 2020 (Act 1038) and the Data Protection Act, 2012 (Act 843) mandate data sovereignty.
This means that the physical location of databases containing personal and financial information must remain within the territorial boundaries of Ghana.
Only non -sensitive, front-end services may be hosted in the cloud, and even then, only through a risk -based, approved, and tightly controlled framework.
Page 4 of This Directive provides the clear rules of the road for such adoption, ensuring that as our institutions embrace the cloud in a compliant manner, their security posture migrates with them, and they remain fully aligned with all relevant laws and regulations.
The Proportionality Framework: We listened to the industry.
We understand that a small rural bank does not have the same resources as a large multinational.
This new framework scales our requirements based on an institution's size and risk profile, ensuring security is "fit-for-purpose" without being unduly burdensome.
Board-Level Accountability: Security is no longer just an IT problem; it is a strategic business risk.
We now mandate that at least one member of your Board possesses verifiable expertise in cyber risk management.
This ensures that security discussions happen at the highest level, right where strategic decisions are made.
Inclusive Oversight: A financial ecosystem is only as strong as its weakest link.
I am pleased to announce that we are expanding the FICSOC's coverage.
Beyond the universal banks, we are actively onboarding all Other Financial Institutions (Savings and Loans companies, Microf inance institutions), FinTechs, and our partner Regulators.
We are building a unified shield for the entire sector.
SUSTAINING OUR COLLECTIVE DEFENCE Distinguished ladies and gentlemen, building and maintaining a world -class defence capability like the FICSOC requires significant investment in infrastructure, advanced technology, and, most importantly, highly skilled personnel.
As the Sectoral CERT, the Bank of Ghana has borne the initial cost of this critical national infrastructure to get it off the ground.
However, to ensure the sustainability, continuous upgrade, and 24/7 operational effectiveness of this shared service, we must move toward a model of shared responsibility.
Just as we all contribute to the security of our physical communities, we must contribute to the security of our digital financial community.
Therefore, the Bank of Ghana is developing a sustainable shared services model for the FICSOC.
We are committed to ensuring this model is transparent, fair, and provides clear value.
It will ensure that the 'nerve centre' of our industry's cyber defence remains cutting -edge, well-staffed, and capable of protecting us all against the threats of tomorrow.
Page 5 of THE PATH FORWARD Cybersecurity is not a destination; it is a continuous journey of vigilance and adaptation.
As we look toward a future of Quantum Computing and Open Banking, our resilience will depend on three things: Talent, Technology, and Trust.
The Bank of Ghana remains your committed partner in this endeavour.
This Directive is more than a set of rules to be complied with; it is a collective pact to protect the digital soul of our economy.
I urge all stakeholders here today to embrace these principles not just as a compliance exercise, but as a foundational pillar of your business strategy.
Let us build a financial system that is not only prosperous but is also resilient, secure, and trusted by all Ghanaians.
Thank you for your unwavering commitment to this cause.
I wish us all a successful and impactful implementation of the 2026 Directive.
God bless our homeland Ghana.
LAUNCH OF CYBER AND INFORMATION SECURITY DIRECTIVE (CISD) KEYNOTE ADDRESS BY DR.
ZAKARI MUMUNI FIRST DEPUTY GOVERNOR, BANK OF GHANA 8TH FLOOR, URBAN BLOCK, BANK SQUARE 25 MARCH Hon.
Chief of Staff of the Republic of Ghana, The Honourable Minister for Communications, Digital Technology, and Innovations, The Governor and Second Deputy Governor, Director-Generals of Sister Regulatory Institutions (NPRA, NIC, SEC), Chief Executive Officers and Managing Directors of Banks and Specialised Deposit -Taking Institutions, Presidents of the Ghana Association of Banks and other Industry Associations, Our Valued Partners from the Cyber and Information Security Industry Distinguished Ladies and Gentlemen.
It is my honour and privilege to welcome you all to this important event.
We are particularly honoured by the presence of the Chief of Staff, the Minister for Communications, and our partners from across the financial sector.
Your participation underscores our shared commitment to safeguarding Ghana’s financial system.
Today marks a significant milestone —the launch of the new Cyber and Information Security Directive (CISD) for the financial industry.
In an era where cyber incidents are constant realities, not distant threats, resilience depends on our level of preparedness.
This Directive strengthens that preparedness by providing a clear regulatory guide and a strategic framework for cyber defence.
Over the years, Bank of Ghana has taken deliberate steps to strengthen the stability of our financial ecosystem.
From the evolution of our currency and payment systems to the digitalisation of financial services; we have embraced innovation while remaining mindful of emerging risks.
The strength of any financial system rests not only on sound policy, but on collective responsibility.
In today’s interconnected world, cybersecurity is no longer a technical issue, it is a matter of national and economic security.
The October 2018 Cyber and Information Security Directive provided a foundation for managing cyber risks within our financial institutions.
However, the threat landscape has evolved significantly.
We now operate in an era defined by: • Rapid digital transformation • Increased reliance on cloud and third-party technologies • The growing sophistication of cyber threats • The emergence of new risks driven by AI and data ecosystems It is in response to these facts that we are introducing this new Directive.
The security of the financial industry does not rest solely with the Central Bank; it is a shared responsibility, and every stakeholder represented here today has a vital role to play.
We are particularly encouraged by the strong collaboration that has shaped this process with industry players, international partners, and subject matter experts.
This inclusive approach ensures that the Directive is not only robust, but also practical and forward-looking.
Distinguished guests, your presence here today underscores the importance of this moment.
We are grateful for your continued partnership and your unwavering commitment to strengthening cybersecurity across our financial ecosystem.
Thank you for your attention, and I wish you a productive and insightful event.
1 Launch of 3i Africa Summit 2026 Theme: Shaping Africa’s Integrated FinTech Future Keynote Address by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana 8th Floor, Urban block, Bank Square | 24 March 2026 Honourable Minister, Esteemed Colleagues, Distinguished CEOs, Leaders of Industry, Distinguished Guests, Ladies and Gentlemen, Good morning.
It is my distinct pleasure to welcome you here to the launch of the 3i Africa Summit 2026.
Let me begin by acknowledging our valued partners, the Ghana Interbank Payment and Settlement Systems and the Global Finance and Technology Network, for their continued collaboration and shared commitment to advancing the future of finance on the African c ontinent.
Their partnership reflects the very spirit of cooperation that this platform seeks to promote.
Today’s gathering is significant not simply because it marks the launch of another Summit.
This launch matters because it reflects the seriousness of the moment before us.
Across the continent, the financial system is changing.
Technology is altering the w ay value is stored, transferred, intermediated and indeed regulated.
New business models are emerging.
New infrastructure is being built.
New expectations are being formed by innovators, firms, and markets alike.
The choices we make at this stage will help determine whether that change becomes merely disruptive or whether it becomes genuinely developmental.
The 3i A frica platform was established on a simple , but powerful premise: that Africa’s financial future will be strengthened when innovation, investment and impact are brought into closer alignment.
The inaugural Summit demonstrated the scale of interest in that proposition and affirmed Ghana’s ability to convene a serious continental conversation around digital 2 finance, fintech, and the future of African markets.
It also showed that there was and still is a strong appetite for a platform that bridges policy ambition with market opportunity.
The subsequent Policy Forum deepened that conversation still further.
It reinforced the need to move from broad ambition to practical execution.
It made it clear that the next phase of African fintech development will depend not only on creativity or capital in isolation, but on stronger coordination between public policy, private innovation and strategic investment.
That insight remains central as we look ahead to 2026.
This year’s theme, “Shaping Africa’s Integrated FinTech Future,” is both deliberate and timely.
The emphasis here is on integration.
For the better part of the last decade, years now, much of the continent’s attention has understandably been placed on expa nding access, encouraging innovation, and building digital channels.
Those efforts have yielded real progress, but the next frontier is not just more innovation in silos.
It is the integration of systems, markets, rules, and opportunities across the continent.
It is about ensuring that progress in one market can connect meaningfully with progress in another, and t hat Africa’s financial evolution is not pursued in fragments.
Africa does not need isolated islands of excellence.
It needs connected ecosystems.
It needs payment systems that are interoperable, digital infrastructure that can be trusted, and regulatory approaches that are coherent and enabling.
All these can be achieved when institutions collaborate in pursuit of outcomes greater than any single actor can achieve alone.
It also requires sustained engagement between the public and private sectors, and a shared recognition that scale, trust, and resilience must be built deliberately.
Ladies and Gentlemen, Ghana is proud to stand at the forefront of this conversation based on what we have done and continue to do.
Our experience has shown that progress in digital finance is not accidental.
It is built through intentional policy, credible institutions and sustained engagement with market actors.
It requires openness to innovation but also clarity of rules.
It requires encouragement of enterprise, but also protection of trust.
It requires ambition but equally discipline.
These are the found ations upon which enduring economic transformation must rest.
At the Bank of Ghana, we have long held the view that innovation and regulation are not opposing forces.
Properly managed, they are complementary.
Sound regulation creates 3 confidence.
Confidence attracts participation.
Participation encourages investment.
Investment supports scale.
And scale, when directed responsibly, expands inclusion and strengthens the overall financial system.
This is why collaboration between regulators, industry, and investors is essential and remains the central purpose of the 3i Africa Summit: to provide a platform for alignment, partnership and practical engagement between those building the future of finan ce and those responsible for ensuring that such a future is resilient, inclusive and credible.
It is also why this launch matters.
It gives us the opportunity to begin that alignment early, before the Summit itself convenes.
What this requires, in practical terms, is a clearer focus on the foundational conditions that will determine whether Africa’s fintech progress remains fragmented or becomes truly transformative: stronger interoperability across systems and markets, invest ment in trusted digital public infrastructure, a renewed commitment to cross -border integration, and a strong continuous focus on inclusion.
These are not abstract priorities.
They are the practical building blocks of a more connected financial ecosystem.
Ladies and Gentlemen, for too long, the African continent has been described primarily in terms of untapped potential.
Yet what is increasingly evident is not merely potential, but readiness.
Readiness in talent.
Readiness in innovation.
Readiness in digit al adoption.
Readiness in entrepreneurship.
And increasingly, readiness in regulatory innovation.
The task now is to convert that readiness into coordinated action and long-term institutional progress.
This is the spirit in which the 3i Africa Summit 2026 must be understood.
It is an opportunity to place Ghana’s priorities, capabilities and ambitions more firmly at the centre of the global financial conversation.
It is also an opportunity to strengthen A frica’s voice in shaping the systems, standards and partnerships that will define the future of finance.
I therefore encourage all stakeholders to engage actively in the journey ahead.
I encourage policymakers and regulators to engage early and constructively.
I encourage financial institutions and industry leaders to participate with strategic intent.
I encourage innovators and entrepreneurs to see this platform as an opportunity for visibility, connection, and growth.
To partners, investors and sponsors to use this platform to identify opportunities for meaningful engagement and support.
The period between this launch and the Summit should be used 4 intentionally to build relationships, sharpen ideas and deepen commitment across the ecosystem.
That is why we are all gathered here today: to mark the beginning of another important chapter in a shared continental journey.
It is now my honour to officially launch the 3i Africa Summit 2026.
1 129th Monetary Policy Committee Meetings Opening Remarks by Dr.
Johnson Pandit Asiama Governor, Bank of Ghana 17th Floor, Tower Block, Bank Square | 16 March 2026 Distinguished guests, colleagues, members of the financial press, and fellow Ghanaians, Good morning.
Welcome to the 129th Meeting of the Monetary Policy Committee, our second meeting of the year.
Since we last met in January, additional data has become available, providing a clearer picture of how the economy has progressed in recent months.
In several important respects, the performance of the economy has been stronger than many had anticipated.
But this is not a meeting to ratify good news.
It is a meeting to make a judgment on conditions that have become simultaneously more encouraging and more uncertain.
When we met earlier this year, the question before us was whether stabili sation was taking hold.
Today, the question is how we sustain these gains, while navigating a more uncertain global environment.
What the Data Now Tells Us Ladies and gentlemen, let us reflect on what the data tells us.
Since our last meeting, the economic picture has sharpened considerably.
Headline inflation declined to 3.3 percent in February, marking the fourteenth consecutive monthly decline.
We are now below the medium-term target band.
These are numbers that, not long ago, would have been considered aspirational.
2 External buffers have strengthened further.
Gross international reserves now stand at about US$14.5 billion, equivalent to 5.8 months of import cover, up from approximately US$13.8 billion at the time of our January meeting.
The real economy is also showing stronger momentum.
The Composite Index of Economic Activity grew by 8.4 percent year-on-year at the start of 2026, supported by stronger bank credit, industrial output, trade activity, and household consumption.
Consumer and business confidence rose in February 2026, supported by easing inflation.
Taken together, these indicators point to an economy stabili sing more rapidly than many had expected.
But the External Environment Has Changed Colleagues, the external environment has evolved significantly since our last meeting in January .
The escalation of conflict in the Middle East has disrupted key energy and shipping corridors, increased volatility in global oil markets, and introduced new uncertainty into the trajectory of global inflation.
For Ghana, the spillover channels are clear.
Sustained oil price increases raise the risk of imported inflation, which could necessitate policy tightening with implications for financial conditions .
There is a partial offset – geopolitical uncertainty tends to support gold prices, which benefits our trade balance – however, the net balance of risks from this external shock is inflationary.
Considerations for This Meeting Against this backdrop, I would like to draw members’ attention to areas that will be central to our discussions.
• First, the geopolitical risk channel and its implications for policy calibration.
The external shock we face today is different from the conditions we confronted in January.
Back then, the principal risk was complacency in the face of success.
Today, there is a live external threat to the disinflation trajectory.
Whatever decision the Committee takes, our communication must reflect both the progress achieved and the risks that remain.
• Second, the Ghana Accelerated National Reserve Accumulation Program me.
Since our last meeting, the Government has announced Ghana Accelerated National 3 Reserve Accumulation Programme (GANRAP), which seeks to raise international reserves to 15 months of import cover by 2028, from the current level of around 5.8 months.
Strengthening external buffers is an important element of macroeconomic resilience.
At the same time, initiatives of this scale raise questions regarding liquidity conditions, the Bank’s balance sheet, and the interaction between reserve accumulation and monetary policy operations.
• Third, the effectiveness of monetary policy transmission.
The banking sector remains sound, profitable, and well -capitalised, with asset quality improving meaningfully over the past year.
This matters not only for financial stability, but also for the effectiveness of monetary policy, the extent to which changes in the policy rate translate into the credit conditions experienced by households and businesses.
Understanding the factors constraining credit expansion, whether on the supply or demand side, will therefore be important in assessing the real economy impact of any policy decisions taken today.
The Nature of the Judgment Required The January decision was about restraint , but today, the judgment required is more complex.
We must make our decision at the intersection of genuine domestic success and genuine external uncertainty.
The question before this Committee is not whether conditions have improved.
They have, significantly and across the board.