Speech by Governor Dr. Johnson Pandit Asiama at the 2026 3i Africa Summit
Source: bank_of_ghana
Date: 2026-05-06

3i Africa Summit 2026: Enforcing Africa’s Next Frontier in Digital Finance Remarks by Dr. Johnson Pandit Asiama Governor, Bank of Ghana Destiny Arena | Wednesday, 6 May 2026 Her Excellency, the Vice President of the Republic of Ghana, Honourable Ministers, Governors of Central Banks here represented, Industry Leaders and Innovators, Distinguished Ladies and Gentlemen, Good morning to you all. It is indeed a joy to be here at the second edition of the 3i Africa Summit, hosted by the Bank of Ghana in partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS) and the Global Finance & Technology Network (GFTN) of the Monetary Authority of Singapore. I commend the organisers who have worked tirelessly to put this remarkable summit together. From the short video that was played before I got up to this podium, it is clear that the 3i Africa Summit has made a significant mark on the global financial landscape, from the maiden edition in 2024 to the policy dialogue organised last year. What is equally clear is that we are now at a point where progress must translate into scale, and access must translate into value. The Strategic Importance of This Moment On the foundations of Innovation, Investment and Impact, our goal must be to ensure that these pillars are not only articulated, but effectively aligned through strong partnerships and sustained investment. This Summit is therefore more than a gathering of regulators, innovators and investors. It is a signal of where Africa must now go. Digital finance is no longer at the margins of financial sector development. It is central to how value is created, how trust is built, how markets are connected, and how economies compete. The decisions and partnerships that emerge from forums such as this will determine whether Africa merely participates in the next phase of finance, or helps to shape it. Africa has made steady progress in expanding access to finance. A recent World Bank report indicates that approximately 49 percent of adults in Sub-Saharan Africa now have access to digital financial accounts. Africa is not starting from zero. We are starting from momentum. This is progress. But it also signals a transition. Access has expanded. The task now is to make it count. For a long time, this progress has been driven by mobile money and branchless banking models, bringing financial services closer to underserved populations. It is now being reinforced by broader technological developments, including digital credit, digital trade, and evolving MSME financing models. Defining the Next Phase of Digital Finance Ladies and Gentlemen, this progress points to an important shift. The next phase of digital finance will not be defined by payments alone. Across our markets, the basic payment infrastructure is increasingly in place. The opportunity now lies in building the next layer of value. • Digital credit. • Merchant payments. • Embedded finance. • Supply chain finance. • Cross-border services. Financial products that respond to the realities of women, MSMEs, young people, and the informal sector. Our challenge is to create the conditions for this next generation of financial services to grow responsibly and at scale. The constraints we face are now clearer. The issue is no longer access alone. It is fragmentation. It is cost. It is uneven regulatory alignment. The challenge is no longer building systems. It is connecting them. What is required is greater clarity in how we define our priorities, and stronger coordination in how we implement them. In this context, regulation must remain firm. It must protect the public, safeguard the integrity of the financial system, and preserve stability. At the same time, it must be enabling. It must support responsible innovation and allow markets to develop in a structured and predictable manner. Regulation and growth are not opposing forces. They must reinforce each other. Bank of Ghana’s Approach At the Bank of Ghana, we have taken a deliberate approach. Our objective has been clear: to build a regulatory and market environment that supports innovation, while maintaining stability and trust. This is reflected in the steps we have taken to strengthen the framework for digital finance. • Advancing the regulatory regime for virtual assets. • Issuing guidelines for digital credit. • Progressing open banking. • Supporting cross-border fintech activity. These are not isolated initiatives. They are part of a coherent effort to ensure that the financial system evolves in a way that is structured, predictable, and capable of supporting innovation at scale. However, the work ahead is not only about issuing laws, guidelines and frameworks. It is about strengthening the service infrastructure around regulation. Processes must be clear. Submissions must be trackable. Decisions must be timely. This is how confidence is built. Confidence will also depend on the str ength of our digital identity and KYC frameworks. Weak authentication increases fraud risk, affects credit quality, and undermines trust in digital financial services. The next phase will require stronger coordination across institutions, improved data quality, and more robust identity systems. We must also focus on the development of indigenous firms. Africa’s digital finance ecosystem must not only grow. It must mature. Firms with strong potential must have access to the partnerships, capital, and infrastructure required to scale sustainably. A strong financial system is not defined by activity alone. It is defined by discipline, transparency, and competitiveness. From Conversation to Impact Ladies and Gentlemen, the value of this Summit will not be measured by the conversations we have, but by the outcomes we drive. Stronger alignment across markets. Better coordination across regulators. And faster progress toward financial systems that are inclusive, innovative, and capable of operating at scale. This requires deliberate action from all of us-regulators, industry, and partners alike. The question before us is straightforward. Will Africa simply adopt the next phase of finance, or will Africa help to shape it? Africa has reached a point where participation is no longer the ambition. Leadership is. The answer will depend on how deliberately we act, how effectively we coordinate, and how consistently we execute. On this note, I welcome you to the second edition of the 3i Africa Summit and wish you productive and impactful engagements. God bless Ghana. God bless Africa.