The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced that the central bank will soon roll out comprehensive digital lending guidelines aimed at safeguarding consumers and fostering stronger collaboration between banks and fintech companies.
Dr. Asiama made the revelation during his address at the 42nd Annual General Meeting of the Ghana Association of Banks on October 23, 2025, which coincided with the launch of the Ghana Bankers Voice Magazine.
Open Banking Framework to Enable Secure Data Sharing
Highlighting the BoG’s ongoing Open Banking Framework, currently in its proof-of-concept phase, Dr. Asiama explained that it will enable secure data sharing between banks and fintechs while maintaining clear standards for consent, privacy, and cybersecurity.
“This framework will ensure that fintech innovation thrives in a safe and regulated environment,” he noted.
Cryptocurrency Regulations Set for December 2025
Dr. Asiama also disclosed that the Bank of Ghana is collaborating with the Securities and Exchange Commission (SEC) and the Financial Intelligence Centre (FIC) to formalize cryptocurrency regulations by December 2025.
“I am pleased to say we have finalized the bill ready for submission to Cabinet. This places Ghana among the first African jurisdictions to regulate digital-asset activity prudently,” he stated.
Expanding Financial Access and Trade Finance
In efforts to deepen financial intermediation, the BoG is partnering with Development Bank Ghana, the World Bank, and Afreximbank to expand access to credit and trade finance through risk-sharing facilities.
Dr. Asiama highlighted that Ghana’s banking infrastructure is being aligned with continental systems like the Pan-African Payment and Settlement System (PAPSS) to enable seamless cross-border payments in local currencies.
Additionally, with support from the International Monetary Fund (IMF), the BoG has launched a structured foreign exchange operations framework to improve price discovery, reduce volatility, and rebuild reserves.
Driving Digitalisation and Innovation in Banking
The central bank is also developing a comprehensive Digitalisation Strategy to guide the use of technology and data for a more efficient financial system. Dr. Asiama shared that BoG teams are learning from global best practices in central banks from Singapore, London, and the Philippines to bring lessons home.
Engagement with the Ghana Association of Bankers and individual banks will ensure that stakeholders’ perspectives are incorporated into the strategy from inception.
AI-Driven Supervision and Cybersecurity
Dr. Asiama emphasized that technology will play a key role in enhancing supervision in Ghana’s banking sector. The BoG is investing in AI-driven supervisory tools and operationalizing a Cyber Threat Intelligence Platform to facilitate information sharing between banks and fintechs.
He stressed, “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.”
Sustainability and ESG Integration
The Bank of Ghana is piloting an ESG and Climate-Risk Reporting Template to embed sustainability into credit and investment decisions. Dr. Asiama remarked, “Innovation without trust will not endure, but prudence must never again be an excuse against innovation.”
Understanding Ghana’s Young Banking Population
Finally, Dr. Asiama urged commercial banks to recognize the changing expectations of Ghana’s largely 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 everywhere,” he concluded.