Ghana’s burgeoning crypto sector, valued at an estimated $3 billion annually, is being constrained by regulatory delays, threatening fintech innovation, financial inclusion, and potential tax revenue, according to Selorm Branttie of the IMANI Centre for Policy and Education.
Speaking at the Fintech Stakeholder Forum, Selorm Branttie revealed that around 3.4 million Ghanaians, roughly 17% of adults, are actively trading in crypto, despite the fact that digital currencies are not recognized as legal tender in the country.
“Before a product can be really tested or be brought to the market, you are talking about an 18 to 24 month innovation delay,” he said, pointing to gaps in the current regulatory system that slow the launch of new fintech products.
The delay, he added, not only stifles innovation but also represents a missed opportunity for formal financial growth and broader economic benefits. Ghana’s thriving mobile money ecosystem, which accounts for over 77 million accounts and 1.9 trillion cedis in annual transactions, shows the country’s capacity for digital financial services.
Yet, the crypto sector remains largely informal and unregulated, leaving billions of cedis outside government oversight.
Branttie also highlighted demographic trends, noting that young people are the most active in crypto transactions, often bypassing traditional banking platforms. This underscores the need for policies that can integrate the next generation of digital-savvy consumers into formal financial systems while protecting them from fraud.
The presentation emphasized the importance of multi-agency coordination, involving the Bank of Ghana, the Securities and Exchange Commission, the Data Protection Commission, and the Financial Intelligence Centre, to ensure that the regulatory framework is both protective and innovation-friendly.
He also referenced international best practices, including Switzerland’s classification of tokens by economic function and Singapore’s sandbox framework, as models for Ghana’s crypto and digital asset regulation.
“Ghana is ahead in mobile money adoption, but we need to catch up in crypto regulation. Otherwise, we are leaving billions of cedis on the table,” Branttie warned. He stressed that a clear and harmonized regulatory framework could enable fintech startups to thrive, attract investment, and deepen financial inclusion, particularly among the unbanked population.
