BoG Governor Urges Digital Finance Institutions to Strengthen Africa’s Fintech Ecosystem

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called on African digital finance institutions to move beyond basic financial inclusion and focus on building a more robust, scalable, and impact-driven fintech ecosystem across the continent.

Delivering the keynote address at the opening of the 3i Africa Summit held at the Destiny Arena in Accra on 6 May 2026, Dr. Asiama highlighted the transformative role of digital finance in enhancing economic resilience and broadening participation in Africa’s financial sector.

He noted that while significant progress has been made in expanding access, the next phase must prioritize depth, quality, and sustainability.

Dr. Asiama pointed out that about 49 per cent of adults in sub-Saharan Africa now hold digital financial accounts, marking a major milestone in financial inclusion.

However, he cautioned that access alone is insufficient if it does not translate into tangible benefits for users.

“The focus must now shift from access to scalability, efficiency, and the meaningful use of financial services,” he said, urging institutions to design solutions that deliver real value to individuals and businesses.

According to the Governor, the future of Africa’s digital finance landscape will extend far beyond basic payments.

He identified digital credit, embedded finance, supply chain financing, and cross-border payment solutions as critical areas for growth.

He emphasized that these innovations must be tailored to serve underserved groups, particularly women, micro, small and medium enterprises (MSMEs), and participants in the informal sector, who remain largely outside the formal financial system.

Dr. Asiama also drew attention to persistent challenges hindering the sector’s growth, including market fragmentation, high transaction costs, and weak regulatory coordination across jurisdictions.

He called for stronger system connectivity and deeper collaboration between regulators, financial institutions, and technology providers to create a more integrated and efficient regional market.

Outlining the central bank’s efforts to enable a safe and innovative digital finance environment, Dr. Asiama said the Bank of Ghana has been proactive in laying the regulatory foundation.

This includes developing a comprehensive framework for virtual assets, issuing guidelines for digital credit operations, advancing open banking initiatives, and facilitating cross-border fintech activity to support regional trade and remittances.

The 3i Africa Summit, which brings together policymakers, investors, and fintech leaders from across the continent, serves as a platform to shape Africa’s digital finance agenda and drive collaboration toward a more inclusive and competitive financial ecosystem.

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