The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has emphasised the need for Africa to move beyond access-driven financial inclusion, urging stakeholders to focus on generating “scalable value” from the continent’s digital finance progress.
Speaking at the opening of the 3i Africa Summit 2026 in Accra, Johnson Asiama positioned digital finance as central to economic competitiveness, noting that it now underpins “how value is created,” “how trust is built,” and “how markets are connected.”
He emphasised that Africa has moved beyond foundational challenges and is now operating from “momentum,” with financial inclusion in Sub-Saharan Africa reaching about 49% of adults, according to World Bank data.
He indicated that while mobile money and branchless banking have driven inclusion, the next phase will be defined by higher-value services, not just payments. The opportunity, he said, lies in building “the next layer of value,” including digital credit, embedded finance, supply chain finance, and cross-border financial services tailored to MSMEs, women, and the informal sector.
Johnson Asiama identified structural bottlenecks, including “fragmentation,” “high cost,” and “uneven regulatory alignment,” as key constraints limiting progress. The focus, he noted, is no longer on building systems but on “connecting them,” requiring stronger coordination across markets and institutions.
On regulation, the Governor stressed the need for a balanced approach, arguing that it must remain “firm” to safeguard stability while also being “enabling” to support innovation. He rejected the notion of a trade-off, stating that regulation and growth should “reinforce each other” within a predictable policy environment.
He outlined priority areas under Ghana’s regulatory agenda, including advancing digital credit frameworks, progressing open banking systems, and supporting cross-border fintech activity. These, he said, form part of a “coherent effort” to ensure the structured and scalable evolution of the financial sector.
Johnson Asiama further emphasized the importance of execution, pointing to the need for “clear processes,” “trackable submissions,” and “timely decisions” to build market confidence. He also highlighted risks associated with weak identity systems, warning that poor authentication “increases fraud risk” and undermines trust in digital financial services.
The Governor further called for investment in digital identity infrastructure and stronger Know Your Customer (KYC) frameworks, alongside improvements in data quality and inter-agency coordination. He stressed that a resilient digital finance ecosystem depends on “robust identity systems” and reliable data governance.
Johnson Asiama also advocated for the growth of indigenous fintech firms, noting that Africa’s ecosystem must not only expand but “mature.” He emphasised the need to provide high-potential firms with access to capital, partnerships, and infrastructure to scale sustainably.
He concluded by framing the continent’s strategic choice as one between passive adoption and active leadership, posing the question of whether Africa will “merely participate” or “help shape” the future of global finance. According to him, the outcome will depend on “how deliberately we act,” “how effectively we coordinate,” and “how consistently we execute.”
The 3i Africa Summit, hosted by the Bank of Ghana in collaboration with the Ghana Interbank Payment and Settlement Systems (GhIPSS) and the Global Finance and Technology Network (GFTN), brings together policymakers, regulators, and industry leaders to advance innovation, investment, and impact in Africa’s financial sector.
