By Francis Ntow
Accra, May 29, GNA – The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, is advocating a more aggressive deployment of capital by Ghana’s business executives to stimulate value addition, industrialisation, and innovation as the country transitions from recovery to sustained prosperity.
He said although macroeconomic stability created an enabling environment for businesses to expand and support economic growth, it was the private sector that would ultimately drive the country’s economic reset and transformation agenda.
He, therefore, urged Chief Executive Officers (CEOs) of businesses across the country to be stewards of national prosperity, while the Central Bank provided the needed stability and a modern digital finance system to support their investments.
Speaking at the 10th Ghana CEO Summit in Accra on Thursday, Governor Asiama said Ghana had now moved from economic recovery to a state of converting those gains into a foundation for industrial competitiveness and inclusive long-term growth.
“As CEOs, you are the architects of economic growth, you are the creators of jobs, and the innovators who are shaping the future of our nation,” he said, citing private sector leadership as a national responsibility that CEOs must embrace with deliberate intent.
He said Ghana’s economic reset and long-term growth depended on four key pillars – economic diversification, value addition and industrialisation, stronger public-private partnerships, and governance and institutional integrity.
“Ghana’s economic transformation will not happen by accident, it will require disciplined policy choices, resilient institutions, innovative businesses, and courageous leadership,” Dr Asiama said.
The progress made in the past few months showed that when institutions acted decisively, backed by policy strengthened coordination, and public-private sector’s decision to work together, the vision of economic transformation would become a reality, he said.
“We must move beyond recovery. We must build a more competitive economy, a more innovative economy, a more resilient one, and above all, an economy that creates opportunities and prosperity for all Ghanaians.”
Dr Asiama said the Central Bank had to navigate difficult economic conditions, but decisive decisions had resulted in moderated inflation, improved reserves, and a rebound in investor and public confidence.
He, however, cautioned that the stability must not be taken for granted, pointing to the ongoing Middle East conflict as a reminder that the global environment remained highly uncertain.
He encouraged businesses to adapt quickly, embrace technology, and build cultures of continuous leaning, establishing an economy that was more competitive, innovative, resilient, and created genuine opportunity and prosperity for all Ghanaians.
The Central Bank, Dr Asiama said, had established three new departments within the past year as part of its commitment to promoting a modern, inclusive, and efficient payment ecosystem that kept pace with the global digital finance revolution.
They are the Fintech and Innovation Department, Data Analytics and Artificial Intelligence (AI) Department, and a Virtual Assets Regulatory Department, indicating the Bank’s intention to actively explore its e-Cedi for cross-border and wholesale payments.
“The challenge before us is not simply to digitise. It is to digitise responsibly and inclusively,” Dr Asiama said, urging that innovation be accompanied by sound governance, ethical safeguards, cybersecurity resilience, and consumer protection.
GNA
Edited by Agnes Boye-Doe
Reporter: Francis Ntow