By Morkporkpor Anku
Accra, April 24, GNA – Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana, has urged licensed fintech institutions to deepen engagement with regulators, enhance governance systems, and prioritise consumer trust to sustain growth.
He emphasised that regulation should be viewed as a catalyst for innovation, highlighting the need for early collaboration with regulators and responsible business practices.
Dr. Asiama made these remarks at a breakfast meeting with fintech institutions in Accra, focusing on the future of digital finance and regulatory reforms.
He explained that the Bank’s role was to ensure innovation remains sustainable and beneficial to the economy, not to stifle it.
Dr. Asiama urged fintech firms to invest in robust governance systems alongside growth, stressing that strong internal structures were key to maintaining public trust.
He also described consumer trust as a strategic asset, warning that unregulated innovation could undermine financial inclusion efforts.
Dr. Asiama reaffirmed the Bank’s commitment to supporting fintech growth, positioning the central bank as both a regulator and a partner in innovation.
He pointed to platforms such as the 3i Africa Summit as opportunities to showcase fintech innovations and foster collaboration across the ecosystem.
Dr. Asiama called for practical dialogue between regulators and industry players to address challenges and convert ideas into tangible outcomes, noting that Ghana’s digital financial ecosystem had been built through the combined efforts of entrepreneurs, financial institutions, and regulators.
He also highlighted new directives for digital credit service providers and enhanced cybersecurity frameworks to mitigate emerging risks, urging fintech institutions to collaborate with the Bank to position Ghana as a leader in digital financial innovation across Africa.
Dr. Zakari Mumuni, First Deputy Governor of the Bank of Ghana, acknowledged the transformation of Ghana’s digital finance sector over the past decade.
He noted that fintechs and mobile money platforms had reshaped service delivery, placing greater responsibility on regulators and industry players to ensure inclusivity and efficiency.
Dr. Mumuni reaffirmed the Bank’s commitment to creating an enabling environment for innovation through strong digital infrastructure, effective regulation, and continued collaboration.
GNA
Edited by Kenneth Sackey