Ghana’s Digital Asset Future Must Protect the Cedi and Build Trust- BoG

The First Deputy Governor of the Bank of Ghana, Dr Zakari Mumuni, says Ghana’s digital assets future must be anchored on trust and strong institutions while ensuring that innovation protects the cedi instead of displacing it.

Delivering the keynote address at the Standard Chartered Digital Assets Summit in Accra on Friday, Dr Mumuni told industry leaders, regulators, innovators, and financial institutions that Africa’s digital asset economy must be built on “trust, inclusion, and sound institutions,” rather than speculation.

He said the Bank was taking a proactive approach by establishing a legal framework for Virtual Asset Service Providers under Act 1154.

The central bank has also strengthened collaboration among key regulators, created a dedicated Virtual Assets Department, and continued to leverage its Regulatory Sandbox to support responsible innovation.

“The question is no longer whether digital assets will shape African finance. They already are. The real question is whether we will shape that future deliberately,” Dr Mumuni stated.

He stressed that while digital innovation presents significant opportunities for cross-border payments, financial inclusion, and capital market development, it must complement, not replace, the Ghana cedi.

“Whatever we build, tokenise, or otherwise, we must not displace the cedi. A strong digital ecosystem should strengthen public money, not compete with it,” he said.

The First Deputy Governor called for greater collaboration among regulators, financial institutions, and innovators across the continent to build a secure and interoperable digital financial ecosystem that supports Africa’s economic transformation.

Story by Hajara Fuseini

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