BoG meets with Fintech institutions on strategies to improve digital finance ecosystem

The Bank of Ghana met with the Licensed Financial Technology Institution to deliberate on measures to foster digital financial services.

Addressing the gathering, the first deputy governor of the Bank of Ghana, Dr. Zakari Mumuni, acknowledged the massive revolution in Ghana’s digital finance ecosystem.

“Little over ten years ago, a Ghanaian former in the Northern region had no bank account, no credit history, and no path for formal finance. But today, that same former can save, borrow, and insure against drought from a mobile phone.”

“That transformation did not happen by accident. It happened because innovators in this room dared to reimagine what financial services would look like, and regulators chose to work with you rather than against you.” He added.

Despite the improvement in the financial ecosystem, Dr Zakari noted that they are still not accessing its full potential.

“We must recognize that progress is uneven, while access to digital financial services has expanded significantly, many users are still not benefiting fully from credit, savings, insurance, or value-adding financial products.”

According to Dr Zakari, their responsibility is to create the path for businesses to grow.

“From the perspective of the Bank of Ghana, our role is to create the right environment for innovations to thrive. That means supporting shared digital infrastructure, strengthening digital identity systems, and maintaining a regulatory framework that encourages responsible experimentation without compromising trust or stability.”

At the Bank of Ghana, we do not see Fintechs as peripheral players. We see you as architects of a new financial order — one that is faster, more inclusive, and more innovative.