The Governor of the Bank of Ghana, Dr. Johnson Asiama, has launched the Bank of Ghana Chair in Finance and Economics at the University of Ghana, calling it a strategic investment in the nation’s intellectual and policy future.

Speaking at the launch event in Accra, Dr. Asiama described the initiative as a long-term commitment by the Central Bank to support research, deepen policy dialogue, and nurture a new generation of economic thinkers who will help shape Ghana’s financial landscape.

The Chair represents a collaboration between the Bank of Ghana and the University of Ghana aimed at advancing economic knowledge, strengthening the connection between academia and policy, and mentoring future economists and decision-makers.

Under the theme “From Cowries to Crypto,” Dr. Asiama traced the historical evolution of Ghana’s monetary system—from barter and cowries to colonial currencies, the Ghana cedi, and now digital finance. He emphasized the critical role of trust in monetary systems and the importance of adapting to rapid technological change.

He cited Ghana’s leadership in mobile money and the ongoing e-Cedi pilot as examples of innovation, and revealed that regulations for Virtual Asset Service Providers (VASPs) are in the pipeline.

Touching on broader macroeconomic issues, Dr. Asiama highlighted how African countries, including Ghana, have faced inflationary shocks due to global crises such as COVID-19, the war in Ukraine, and climate change.

He pointed out that Ghana experienced severe inflation and currency depreciation in 2022 but made a strong recovery in 2025, thanks to disciplined monetary policy and support from the International Monetary Fund (IMF).

Dr. Asiama stressed the need for credible institutions and data-driven central banks, urging banks to move away from overreliance on government securities and instead support productive lending.

“Our banking sector must become a catalyst for growth, with more targeted and productive lending to Ghanaian enterprises,” he said. He also called for greater transparency in exchange rate regimes to preserve credibility.

The Governor underscored the vital role universities must play in policy innovation and critique, adding that the new Chair should drive research in key areas such as inflation modeling, digital currencies, and financial inclusion.

He announced plans for joint research initiatives, policy labs using real-time data, and curriculum development in areas like central banking and macroprudential policy. As part of the initiative, the Governor’s Future Leaders Fellowship will be launched to provide global exposure and mentorship for top graduates.

“Let today mark the beginning of a new intellectual journey, one that will echo far beyond these walls—into policy chambers, financial institutions, and the hearts of young economists still finding their voice,” Dr. Asiama said.

Delivering his inaugural lecture as the newly appointed Chair, Professor Yegandi Imhotep Paul Alagidede critically examined Africa’s monetary history and proposed bold reforms for the continent’s financial future.

Speaking on the topic “From Cowries to Crypto: The Long Arc of Monetary Policy in Africa,” Prof. Alagidede argued that conventional inflation-targeting models are ill-suited for African economies because inflation on the continent is largely structural, not demand-driven.

“Inflation targeting in Africa often resembles theatre more than theory,” he said, advocating instead for a Resource-Based Monetary Sovereignty (RBMS) model grounded in real assets such as gold, cocoa, energy, and labour.

He proposed an Endogenous Resource-Backed Currency (ERBC) system, which would flexibly adjust to Africa’s productive capacity while shielding economies from speculative shocks. This model, he explained, would enable African nations to convert their natural resources directly into financial instruments—without relying on external capital markets.

Prof. Alagidede further recommended:


  • Amending the Bank of Ghana Act to allow for resource-backed developmental finance.


  • Launching a resource-backed digital cedi (dCedi), initially anchored in gold and cocoa, and later expanded to include solar energy, shea nuts, and verified land value.

Vice-Chancellor of the University of Ghana, Prof. Nana Aba Appiah Amfo, praised the partnership as a significant step toward producing knowledge that is both globally relevant and locally grounded.

“The establishment of the Bank of Ghana Chair demonstrates a shared commitment to advancing scholarship that directly informs Africa’s economic transformation,” she said.

Prof. Amfo emphasized that beyond funding, the Chair challenges all stakeholders to reassess the foundations of economic research and policymaking. “This initiative seeks to connect academic inquiry with policymaking that drives inclusive development and industrial growth,” she added.