The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced that the central bank will soon introduce regulatory guidelines for digital lending in the country.
He explained that the initiative is designed to safeguard consumers while strengthening collaboration between traditional banks and fintech companies.
Dr. Asiama made the disclosure when addressing members of the Ghana Association of Banks at their 42nd Annual General Meeting on October 23, 2025, which also marked the unveiling of the Ghana Bankers Voice Magazine.
Highlighting ongoing reforms, he noted that the Bank of Ghana’s Open Banking Framework, currently in its pilot stage, “will enable secure data sharing between banks and fintechs under clear standards for consent, privacy, and cybersecurity.”
The Governor further revealed that the BoG is working closely with the Securities and Exchange Commission (SEC), the Financial Intelligence Centre (FIC), and other stakeholders to establish comprehensive cryptocurrency regulations by December 2025.
“I am pleased to say we have finalized the bill ready for submission to Cabinet. This progress places Ghana among the first African jurisdictions to regulate digital-asset activity prudently,” he said.
Dr. Asiama also announced partnerships with Development Bank Ghana, the World Bank, and Afreximbank to broaden access to credit and trade finance through risk-sharing mechanisms.
“We are aligning Ghana’s banking infrastructure with continental systems like the Pan-African Payment and Settlement System (PAPSS), which enables cross-border payments in local currencies,” he added.
With support from the International Monetary Fund (IMF), the Bank has also launched a structured foreign exchange operations framework aimed at improving price discovery, reducing volatility, and rebuilding reserves.
Looking ahead, Dr. Asiama disclosed that the central bank is formulating a comprehensive Digitalisation Strategy to guide the use of technology and data in strengthening Ghana’s financial system.
“We are sending our teams out to the best central banks — from Singapore to London to the Philippines — to learn, experiment, and benchmark against the best, bringing global lessons home,” he revealed.
He emphasized that a dedicated BoG team will soon engage with the Ghana Association of Bankers and individual banks to ensure their input shapes the strategy from the outset.
On regulatory oversight, Dr. Asiama stressed the Bank’s commitment to leveraging innovation. He disclosed that the BoG is investing in AI-powered supervisory tools and has operationalised a Cyber Threat Intelligence Platform to enhance information sharing between banks and fintechs.
“As banks migrate more systems to the cloud, operational resilience and third-party risk management will become as critical as capital adequacy. Cyber maturity is now a measure of institutional soundness, and our supervisory priorities will increasingly reflect that,” he explained.
He also revealed that the Bank is piloting an ESG and Climate-Risk Reporting Template to integrate sustainability into lending and investment decisions.
“Innovation without trust will not endure, but prudence must never again be an excuse against innovation,” he cautioned.
Concluding his address, Dr. Asiama urged commercial banks to adapt to the evolving needs of Ghana’s youthful population.
“More than 60 percent of Ghanaians are under 35. For them, banking is not a destination — it is an experience that follows them,” he said.
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