BoG Governor calls for stronger collaboration to deepen Africa’s digital finance ecosystem
Date: 2026-05-07
By: Nana Appiah Acquaye
Governor
of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called on digital finance
institutions across Africa to strengthen collaboration and build a more
resilient fintech ecosystem capable of delivering meaningful economic impact.
Speaking
during the opening of the 3i Africa Summit at the Destiny Arena in Accra on May
6, 2026, Dr. Asiama said the continent’s fintech sector must move beyond simply
expanding financial access to creating scalable, efficient, and impactful
digital financial services.
The
Governor noted that nearly 49 per cent of adults in sub-Saharan Africa now hold
digital financial accounts, describing the progress as significant. However, he
stressed that the next stage of development should focus on increasing the
practical value and usage of digital financial services across different
sectors of the economy.
According
to Dr. Asiama, the future of digital finance in Africa will extend beyond basic
payment services to include digital credit systems, embedded finance, supply
chain financing, and cross-border financial services. He added that women,
micro, small and medium-sized enterprises (MSMEs), and participants in the
informal sector must remain central to these efforts.
He
identified market fragmentation, high transaction costs, and weak regulatory
coordination as some of the major challenges slowing the growth of Africa’s
fintech ecosystem. To address these issues, he called for stronger
interoperability, deeper institutional collaboration, and improved regulatory
alignment across African markets.
Dr.
Asiama also highlighted several initiatives being undertaken by the Bank of
Ghana to support the growth of digital finance. These include the development
of a regulatory framework for virtual assets, the introduction of digital
credit guidelines, ongoing open banking initiatives, and measures to facilitate
cross-border fintech operations.
He
said these interventions are intended to create a more secure, innovative, and
inclusive digital financial environment that supports long-term economic growth
and financial inclusion across the continent.
