Credibility is journalism’s most valuable asset – BoG Deputy Governor

Second Deputy Governor of the Bank of Ghana, Mrs. Matilda Asante-Asiedu, has underscored the importance of credibility in journalism, describing public trust as the media’s most valuable asset in an era increasingly shaped by misinformation and disinformation.

Speaking at the 2026 World Press Freedom Honours Night organised by the Ghana Journalists Association (GJA) in Accra, Mrs. Asante-Asiedu said the media remains a critical pillar of democracy and national development, but faces growing challenges that threaten public confidence in journalism.

Addressing journalists, media executives and other stakeholders, she noted that while Ghana continues to enjoy one of the most vibrant media landscapes on the African continent, concerns about misinformation, economic sustainability and declining public trust require urgent attention.

According to her, the spread of false information has become one of the most significant global risks confronting societies today.

“Credibility is the currency of journalism; once spent recklessly, it is difficult to regain,” she stated.

Mrs. Asante-Asiedu observed that trust plays the same role in the media industry as confidence does in the financial sector. She explained that while institutions may withstand temporary challenges, rebuilding lost trust often proves far more difficult.

“Just as trust underpins the sustainability of a media system, confidence underpins the stability of a financial system,” she said.

The Deputy Governor noted that audiences are increasingly scrutinising the accuracy, objectivity and neutrality of media content, making credibility essential not only for journalistic relevance but also for the financial sustainability of media organisations.

She further stressed that a free and responsible press remains indispensable to Ghana’s democratic governance and economic development.

Drawing parallels between journalism and monetary policy, Mrs. Asante-Asiedu explained that effective communication is crucial to the success of economic policies. She noted that decisions taken by the Bank of Ghana are often complex and require accurate reporting to help the public understand their impact.

According to her, the central bank depends on responsible journalism to explain policy decisions, shape public expectations and support confidence in the economy.

To strengthen media capacity, she highlighted several initiatives undertaken by the Bank of Ghana, including specialised training programmes for journalists, regular engagements with the media, enhanced transparency around Monetary Policy Committee decisions, and the establishment of regional press networks to improve nationwide dissemination of economic information.

She also referenced the introduction of the Economic and Financial Journalist of the Year Award, established in partnership with the Ghana Journalists Association to promote excellence in economic reporting.

Touching on developments in the foreign exchange market, Mrs. Asante-Asiedu cautioned against sensational reporting on currency fluctuations, explaining that Ghana’s managed floating exchange rate system naturally experiences periods of appreciation and depreciation.

She cautioned that reporting such movements without adequate context could trigger unnecessary panic and speculative behaviour in the market.

According to her, stability of the cedi has direct implications for the cost of living, business planning and overall economic confidence.

“When the cedi stabilises, import prices become more predictable, transport costs moderate, essential goods such as food, rent and medicines stabilise, businesses can plan with greater certainty, and households can preserve the value of their income and savings,” she explained.

Mrs. Asante-Asiedu also commended journalists for their contribution to Ghana’s democratic growth and reaffirmed the Bank of Ghana’s commitment to maintaining strong engagement with the media.

She concluded by calling for deeper collaboration between the media and public institutions to promote national development, strengthen public trust and support economic stability.

“A responsible press informs without inflaming, questions without prejudging, and reports without distorting,” she said.