Ghana’s banking sector remains broadly stable but.. – Governor Asiama

At his swearing-in on February 25, Governor Dr. Johnson Asiama outlined his priorities to realign the Bank of Ghana’s regulatory mandate to boost financial intermediation and support economic growth.

He emphasized that despite recent stability, the banking sector requires targeted reforms to address legacy issues such as high non-performing loans, weak risk management, and cybersecurity breaches, and to update regulatory frameworks like Act 930.

Dr. Asiama also stressed the need to boost financial inclusion and innovation, positioning Ghana as a potential regional hub for fintech and digital assets.

Additionally, he pledged to preserve exchange rate stability by ending currency speculation through strategic measures such as enacting a new foreign exchange law, targeted market operations, deeper participation in PAPSS, and reforms in the gold purchase program to build a resilient, investor-friendly forex market.