The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has called on African countries to move beyond simply expanding access to financial services and focus on creating real economic value through digital finance.
Speaking at the 3i Africa Summit 2026 in Accra, Dr Asiama said although Africa had made significant gains in financial inclusion, the next stage of growth must ensure that digital finance delivers meaningful impact for businesses and individuals.
He explained that the continent had reached a point where access alone was no longer enough.
“It is clear that we are now at a point where progress must translate into scale, and access must translate into value,” he said.
The summit, organised by the Bank of Ghana in partnership with the Ghana Interbank Payment and Settlement Systems (GHIPSS) and the Global Finance and Technology Network of the Monetary Authority of Singapore, brought together regulators, fintech innovators, investors and policymakers to discuss the future of digital finance in Africa.
Dr Asiama noted that mobile money and branchless banking had played a major role in expanding financial access across the continent, especially among underserved populations.
According to him, about 49 per cent of adults in Sub-Saharan Africa now have access to digital financial accounts, citing data from the World Bank.
He stressed that the future of digital finance would go beyond payments and would increasingly focus on digital credit, merchant payments, embedded finance, supply chain finance and cross-border financial services.
The BoG Governor also highlighted the need for financial innovations that support women, young people, micro businesses and the informal sector.
He further pointed to challenges such as fragmented systems, high costs and uneven regulatory frameworks as barriers to growth.
Dr Asiama said the Bank of Ghana was working on new measures including digital credit guidelines, virtual asset regulations, open banking frameworks and support for cross-border fintech activities.
He also underscored the importance of stronger digital identity and Know-Your-Customer systems to improve trust and reduce fraud within digital financial services.
Source: graphic.com.gh