Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has underscored the critical need for Ghana’s financial system to be resilient in the face of future challenges and opportunities.
Speaking at the Ghana CEO’s Summit at Kempinski Hotel on May 26, 2025, Dr. Asiama emphasized that the central bank’s role extends beyond maintaining stability to but also to prepare the system for future shocks and opportunities.
“Our job is not just to preserve stability, but our job is to prepare the system for future shocks and opportunities that will inevitably come in the future.”
He also highlighted the central bank’s efforts to regulate virtual asset services including the crypto industry, in line with global standards with a proposed framework expected to be submitted to cabinet by September.
“In line with global best practices, we are advancing our roadmap for regulating virtual asset service providers. An example is the crypto industry. Given that nearly 17% of Ghanaian adults hold crypto assets, this framework is crucial for ensuring a secure and transparent financial environment. We’re on track to submit the proposed framework to cabinet by September.”
The Governor concluded by reinforcing the cedi’s status as the only legal tender, calling on businesses to support the local economy by transacting in cedis rather than foreign currencies. This, he stressed, would help promote economic stability and growth.
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Story by: Yvonne Jatoe-Kaleo | univers.ug.edu.gh
Edited by: Wahab Abdul Razak
