At the 9th Ghana CEO Summit held on May 26, 2025, Governor of the Bank of Ghana, Dr. Johnson P. Asiama, delivered a keynote address that was both firm and forward-looking.
With the theme of the summit centered on “Leading Ghana’s Economic Reset,” Dr. Asiama used the moment to rally both the public and private sectors to think bigger, act bolder, and build smarter.
Stability with Purpose
Dr. Asiama didn’t come to give a lecture, he came with a plan. He laid out six key priorities for the central bank under his leadership, from strengthening the cedi and tightening banking regulations to embracing digital finance and restoring the Bank’s balance sheet. His message was clear: monetary policy isn’t just about numbers, it’s about creating the conditions for businesses to thrive.
“We must be clear in our purpose, consistent in our actions, and transparent in our operations,” he said.
The Economic Picture So Far
The Governor painted a cautiously optimistic picture of the economy. Inflation is gradually falling (now at 21.2%), foreign reserves are up to $11 billion, and the cedi has strengthened by over 24% against the U.S. dollar since January. Contrary to speculation, he noted that the Bank is not burning through reserves to support the cedi’s recent strength. He said that, is the result of solid monetary discipline and smarter market reforms.
The policy rate remains at 28%, with inflation projected to fall within the target band (8±2%) by early 2026.
The Challenge to CEOs: Don’t Just Watch, Lead
Governor Asiama didn’t stop at macroeconomic updates. He directly challenged Ghana’s private sector to take a leading role in the reset. He called on CEOs to innovate, upskill their workforce, expand Ghana’s industrial capacity, and model ethical leadership.
“If we rebuild macro stability but hold onto outdated business models, we will have missed the moment,” he said.
A New Way of Working Together
In a refreshing turn, Dr. Asiama announced plans to bring more voices into the Bank’s decision-making process. The Bank is already opening its Monetary Policy Committee meetings to observers from various sectors and is working on launching a formal Bank of Ghana–CEO Forum. The goal? Better feedback, smarter policy, and fewer surprises.
“This isn’t about co-authoring policy,” he said. “It’s about grounding policy in real-world conditions.”
Looking Ahead: Regulation, Crypto, and Capital Markets
The Bank is also preparing for the future. New regulations for crypto platforms are in the works, and the country’s open banking framework is being rolled out to boost innovation. The central bank is investing in AI to monitor financial risk and embed climate and ESG risks into its supervision systems.
Dr. Asiama also emphasized efforts to clean up bad loans and revamp the capital markets, with state-owned enterprises expected to be listed on the Ghana Stock Exchange and new bonds aimed at long-term infrastructure financing.
A Call to Action and a Reminder
In closing, Governor Asiama reminded everyone that economic transformation is about more than just data.
“Ten years from now, no one will remember the exact inflation rate. But they’ll remember whether we created a system that rewarded innovation, created jobs, and gave Ghanaian businesses the tools to lead.”
He ended with a nod to history—and a call to patriotism—inviting everyone to join the upcoming 60th anniversary of the Ghana cedi, reminding all that the cedi remains the only legal tender in the country.
