Blockchain Innovation, a software training institute, is positioning digital asset technology as a catalyst for expanding financing options for small and medium-scale enterprises (SMEs) in Ghana.
The move follows renewed discussions on Ghana’s evolving digital asset framework at the Ghana Virtual Assets and Financial Services Symposium in Accra.
Mr Caleb Kwaku Aflago, President of the Virtual Assets, Chamber of Digital Assets and Blockchain Innovation (CDABI), said blockchain-driven solutions, particularly tokenisation, could transform how SMEs, especially those in the commodity and extractive industries raise capital.
According to him, many small-scale miners struggle to secure fair financing because they lack formal documentation and acceptable collateral. This often forces them to rely on informal lenders at high interest rates.
He explained that blockchain technology enables traceability and verification of assets, allowing miners to tokenise proven reserves and use them to attract funding at more competitive rates.
“With traceable and verified gold, miners can command better value on the international market,” Mr Aflago said, adding that tokenisation could give local producers a fairer opportunity to participate in larger transactions.
He noted that the model was not limited to mining but could also be applied in agriculture and general trading, where SMEs frequently face credit constraints.
By digitising and verifying assets, businesses could access alternative funding sources without overreliance on traditional bank loans.
Mr Aflago said recent regulatory developments, particularly the passage of the Virtual Asset Act (Act 1154), had strengthened Ghana’s legal foundation for responsible digital innovation.
He commended the Bank of Ghana, the Securities and Exchange Commission and the Financial Intelligence Centre for what he described as a collaborative engagement with industry stakeholders.
He stressed that building public confidence in digital assets would require sustained education and professional training to address misconceptions and reduce vulnerabilities linked to misinformation.
In that regard, CDABI has partnered with the Ghana Institute of Management and Public Administration (GIMPA) to introduce a four-tier certification programme to enhance professional competence in the virtual asset ecosystem.
The programme, he said, would equip participants with practical knowledge of blockchain systems, compliance obligations and risk management, helping to promote responsible participation in the sector.
Mr Aflago also highlighted the importance of the regulatory sandbox operated by the Bank of Ghana, which allows innovators to test new financial technologies under regulatory supervision before full-scale deployment.
He said the sandbox framework enables regulators to assess the safety and suitability of emerging products while giving developers the opportunity to refine their solutions to meet local market needs.
Addressing concerns about illicit financial flows, Mr Aflago said the widespread perception that virtual assets were primarily linked to money laundering did not capture the broader value of blockchain technology.
He acknowledged the risks associated with digital finance but maintained that effective collaboration between regulators and industry players would help detect and eliminate bad actors.
“Strong oversight combined with innovation is what will protect the integrity of the ecosystem,” he said.
Mr Aflago further noted that Ghana’s regulatory approach was being tailored to domestic realities rather than replicating foreign models wholesale. He said ongoing guidelines being developed by the Securities and Exchange Commission and the Bank of Ghana would clarify operational standards and strengthen market stability.
He expressed optimism that Ghana’s entry into the global digital asset economy could unlock new financing avenues, improve transparency and broaden economic participation for SMEs that have historically faced barriers to credit.
“By combining regulation, education and innovation, Ghana can build a more inclusive and transparent digital financial landscape that supports enterprise growth,” Mr Aflago said.
He added that sustained cooperation among regulators, academic institutions and technology innovators would be critical to ensuring that blockchain solutions deliver tangible benefits to businesses and the wider economy.
