Johnson Asiama urges Fintechs to pair innovation with responsibility

The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, urged fintechs to match innovation with responsibility.

He stressed the need for early engagement with the regulator, strong governance, and a clear focus on consumer protection.

The Governor disclosed this during a breakfast meeting with Licensed Financial Technology Institutions at Bank Square on Thursday, 23 April 2026.

“Over the past decade, Ghana has emerged as a leader in digital payments and financial inclusion,” Dr Asiama said. “Our role is not to slow innovation, but to ensure it endures.”

The Bank reaffirmed its commitment to working with fintechs to build a financial ecosystem that is innovative, inclusive, and secure.

“However, with scale comes crucial consequences. With innovative financial services, such as yours, it must be supported by adequate governance, resilience, and public trust. At the Bank of Ghana, we have recognised three essential truths: Unregulated scale creates systemic risk even when intentions are good; Innovation without consumer protection ultimately undermines inclusion; and Speed without safeguards weakens confidence in the financial system.

“We have recently passed the Virtual Asset Service Providers Act, 2025 (Act 1154). Our objective with this Act is not to legitimize speculation, nor to suppress innovation, but to bring clarity, accountability, and transparency. In doing so, we are sending a clear signal that innovation is welcome in Ghana, but it must operate within a framework that protects users, preserves confidence, and safeguards the integrity of the financial system.

“Equally important in our reform journey is the Directive for Digital Credit Services Providers, which responds to the rapid growth of digital lending and app-based credit delivery. Our vision is not to constrain credit innovation, but to ensure that digital lending in Ghana is fair and sustainable. The Directive therefore seeks to rebalance innovation with responsibility.”