BoG Governor calls for shift from digital access to value-driven fintech growth

Governor of the Bank of Ghana, Johnson Pandit Asiama, has called for a shift in Africa’s digital finance agenda from expanding access to financial services toward delivering greater value, efficiency and measurable economic impact.

He said fintech institutions across the continent must move beyond basic financial inclusion to building scalable and resilient digital financial ecosystems that serve real economic needs.

Speaking in his keynote address at the opening of the 3i Africa Summit at Destiny Arena in Accra on May 6, 2026, Dr Asiama noted that about 49 per cent of adults in sub-Saharan Africa now have access to digital financial accounts.

However, he stressed that the next phase of growth should focus not just on access, but on how effectively digital financial services are used to improve livelihoods and business productivity.

According to him, African fintech development must prioritise scalability, efficiency, and meaningful usage of financial services across all sectors of the economy.

Dr Asiama said the next stage of digital finance will go beyond payments to include digital credit, embedded finance, supply chain financing, and cross-border financial services. He emphasised that these innovations should be tailored to support women, micro, small and medium enterprises (MSMEs), and informal sector businesses.

He identified key structural challenges facing the sector, including market fragmentation, high transaction costs, and weak regulatory coordination across jurisdictions.

The BoG Governor called for stronger collaboration between regulators, financial institutions and fintech companies to improve connectivity and create a more integrated financial ecosystem across African markets.

Dr Asiama also outlined ongoing reforms by the Bank of Ghana aimed at supporting innovation while maintaining financial stability. These include the development of a regulatory framework for virtual assets, issuance of digital credit guidelines, advancement of open banking systems, and support for cross-border fintech operations.

He stressed that these initiatives form part of a broader strategy to ensure that the financial system evolves in a structured and predictable manner capable of supporting innovation at scale.

The Governor reiterated that a stronger, more connected digital finance ecosystem is critical for Africa’s economic transformation and long-term financial resilience.