By Jibril Abdul Mumuni, GNA
Accra, May 29, GNA – Dr Johnson Pandit Asiama, the Governor, Bank of Ghana (BoG), says digital innovation and financial technology will play a major role in Ghana’s economic transformation.
He said innovation had become the engine of productivity, inclusion and sustainable growth in the global economy.
Dr Asiama, who made the remarks during the 10th Ghana CEO Summit and Expo in Accra, noted that businesses that would thrive in the future were those capable of adapting quickly to technological change.
The Governor explained that the Bank of Ghana was positioning itself at the forefront of digital financial innovation and had established dedicated departments for FinTech, Artificial Intelligence and Virtual Assets.
The move formed part of efforts to build a modern and inclusive payment ecosystem, he said, and that digital finance was transforming access to payments, savings, credit and remittance services.
He said FinTech innovation was lowering transaction costs and expanding financial inclusion across the country.
The Governor disclosed that progress had also been made on Ghana’s proposed Central Bank Digital Currency, the e-Cedi, with the pilot phase of the e-Cedi initiative being completed successfully.
Dr Asiama said the initiative could improve cross-border payments and strengthen payment system efficiency, adding that the Bank of Ghana was leveraging cloud computing, data analytics and artificial intelligence internally.
The Governor, however, cautioned that innovation must be accompanied by sound governance and cybersecurity safeguards.
“The challenge before us is, therefore, not simply to digitise – it is to digitise responsibly and inclusively,” he stated.
Dr Asiama urged CEOs and business leaders to embrace technology-driven transformation and called for stronger public-private partnerships to support innovation and industrialisation.
“Ghana must focus on value addition, manufacturing and competitiveness to secure long-term prosperity,” he said.
GNA
Edited by Agnes Boye-Doe