Governor of the Bank of Ghana, Johnson Asiama, has called for a major shift in Africa digital finance, urging stakeholders to move beyond basic payment systems toward more advanced financial solutions that can drive inclusive growth.
Speaking at the 3i Africa Summit 2026, Dr. Asiama said Africa’s financial ecosystem has reached a turning point where access alone is no longer enough.
“The next phase of digital finance will not be defined by payments alone… The opportunity now lies in building the next layer of value.” - Governor of the Bank of Ghana
Beyond Payments: Building the Next Layer
According to the Governor, that next phase includes digital credit, embedded finance, supply chain finance and cross-border financial services designed to meet the needs of businesses and underserved populations.
He emphasised that these innovations must be tailored to women, MSMEs and informal sector operators who form the backbone of many African economies.
Despite progress in expanding financial access, Dr. Asiama highlighted ongoing constraints such as fragmentation, high transaction costs and regulatory inconsistencies across markets.
“The issue is no longer access alone. It is fragmentation… The challenge is no longer building systems. It is connecting them.” - Governor of the Bank of Ghana
Dr. Asiama said the central bank is actively implementing reforms to create a supportive environment for innovation while safeguarding financial stability.
These include developing frameworks for virtual assets, issuing guidelines for digital credit, advancing open banking and supporting cross-border fintech activity.
“These are not isolated initiatives… but part of a coherent effort to ensure that the financial system evolves… to support innovation at scale.” - Governor of the Bank of Ghana
Balancing Growth and Regulation
The Governor rejected the notion that regulation hinders innovation, arguing instead that both must work together.
“Regulation and growth are not opposing forces. They must reinforce each other,” he said.
He also warned that weak digital identity systems and poor Know Your Customer processes could increase fraud risks and undermine trust in digital finance.
Dr. Asiama urged stronger backing for African fintech companies, noting that access to capital, infrastructure and partnerships is essential for scaling and global competitiveness.
“Africa’s digital finance ecosystem must not only grow, it must mature… leadership is now the ambition,” he said.
The summit, hosted in Ghana in collaboration with global partners, continues to serve as a platform for shaping the future of digital finance across the continent.
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