Tokenisation could unlock cheaper financing for small businesses in Ghana – Dr. Asiama

The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, says tokenisation could create new financing opportunities for small businesses in Ghana by reducing transaction costs, shortening settlement periods and improving access to capital.

He said representing ownership of assets such as securities, commodities and trade receivables in digital form could help businesses access financing more quickly and at lower costs.

Speaking at the Africa Virtual Assets Summit 2026 in Accra on Monday, November 2, Dr. Asiama described tokenisation as an opportunity to address longstanding challenges facing African financial markets.

“By representing ownership of, or rights to, assets such as securities, commodities and trade receivables in digital form, it could allow a small exporter to obtain financing earlier and at lower cost, reduce settlement times from days to minutes, and give smaller enterprises new channels for raising capital,” he said.

The summit, organised by the Securities and Exchange Commission (SEC), was held under the theme, ‘Tokenisation: Africa’s Pathway to a Trusted, Inclusive and Innovative Digital Asset Ecosystem’.

Dr. Asiama said virtual assets and tokenisation could help address limited access to capital, high transaction costs, fragmented financial infrastructure and barriers to cross-border payments and investment.

He also identified opportunities in international remittances and trade, particularly under the African Continental Free Trade Area (AfCFTA).

According to him, digital asset infrastructure could make remittances from the diaspora faster and cheaper, while digital settlement systems could improve trade payments between African countries.

He noted that payments between neighbouring African economies were often slow, costly and routed through third currencies.

However, the Governor cautioned that the adoption of digital assets must be driven by practical economic benefits rather than technological excitement.

“But neither virtual assets nor tokenisation is an end in itself. Their value lies in solving real economic problems. That is the future we should be building towards,” he said.

Dr. Asiama also emphasised that trust, consumer protection and financial stability must remain central to the development of the sector.

Ghana has taken steps towards regulating the emerging industry through the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), which established a legal framework for virtual asset activities under the coordinated oversight of the Bank of Ghana and the SEC.

The Governor said the country’s ambition should be to develop a financial system that is more inclusive, efficient and resilient, allowing businesses and individuals to benefit from safer and more affordable financial services.