- The Bank of Ghana has outlined six core priorities focused on monetary stability, forex discipline, banking sector reform, fintech inclusion, fiscal alignment, and rebuilding its balance sheet.
- Ghana’s economic fundamentals are improving, with inflation dropping to 21.2%, reserves rising to $11 billion, and the cedi appreciating 24.1% year-to-date.
- The cedi’s strength is policy-driven, not artificially propped up, as disciplined monetary management, FX auction reforms, and remittance flows drive gains.
- A new cash reserve rule begins June 5, requiring banks to match reserve holdings with the currencies of their deposits, boosting forex risk alignment.
- The Governor emphasized that CEOs must lead the enterprise reset, calling for innovation, talent development, export growth, and stronger governance across the private sector.
- Business confidence is at its highest in seven years, reflecting optimism around inflation control, credit flow, and Ghana’s medium-term economic trajectory.
- The BoG is reforming how it engages the private sector, including launching a BoG–CEO Forum and inviting stakeholders to observe Monetary Policy Committee meetings.
- Forward-looking supervision is now the regulatory model, integrating AI, ESG risk, and proactive credit risk tools to future-proof Ghana’s financial system.
- A regulatory framework for crypto is in motion, with a Virtual Asset Service Providers (VASP) policy set to be submitted to Cabinet by September.
- Efforts to revive Ghana’s capital markets are accelerating, including listing state-owned enterprises and reactivating the domestic bond market for infrastructure financing.
So What?
Governor Asiama’s address signals a clear roadmap for Ghana’s economic reset, underscoring the crucial partnership between monetary policy and private sector leadership to build a resilient, innovative, and sustainable economy for the future.
