The Bank of Ghana (BoG) is preparing to roll out a new wave of digital finance regulations designed to enhance financial access for small and medium enterprises (SMEs) while supporting responsible innovation across the fintech ecosystem.
Speaking at a high-level roundtable hosted by AyaHQ, Dr. Shaibu Mumuni, Second Deputy Governor of BoG, said the central bank is committed to balancing innovation with stability.
He noted that Ghana’s digital finance landscape has evolved rapidly, driven by mobile money, blockchain, artificial intelligence, decentralized finance, and digital wallets. However, many SMEs still face barriers to affordable credit, digital payments, and cross-border commerce.
“Our policy efforts are focused on closing the access gap for SMEs through tailored regulation, innovation sandboxes, and enhanced supervisory tools,” Dr. Mumuni said.
“This is not just about technology. It’s about giving our entrepreneurs the tools to thrive in a competitive digital economy,” he added.
Dr. Mumuni revealed that the bank has drafted regulations on digital assets that aim to foster innovation while addressing money laundering, fraud, and cybersecurity risks.
Key ongoing initiatives include the pilot of a Central Bank Digital Currency (CBDC) known as the e-Cedi, along with projects exploring tokenization models such as Universal Trusted Credentials (UTCs) and Digital Economy Semi-Fungible Tokens (DESFTs). These tools could be game-changers for identity verification, trade facilitation, and digital asset ownership.
To ensure effective oversight of this growing digital ecosystem, the BoG has developed the Supervisory Intelligence Platform, a real-time regulatory tool that collects financial data to inform responsive policy decisions.
Dr. Mumuni said these measures will help safeguard financial stability while boosting innovation in areas such as e-commerce, payments, and cross-border trade.
AyaHQ founder Eric Annan called for the creation of dedicated innovation zones and deeper collaboration among regulators, financiers, and tech entrepreneurs.
He lauded Ghana’s talent pool, noting that AyaHQ has trained more than 300 individuals and incubated over 30 startups globally.
Minister of Communications, Digital Technology and Innovations, Mr. Samuel Nartey George, acknowledged Ghana’s entrepreneurial potential but lamented the lack of venture capital support.
“We account for less than 2% of Africa’s total VC inflows, which is a serious bottleneck for our innovators,” he said.
The minister called for the establishment of a national innovation fund to provide early-stage financing and catalyze startup growth.
