BoG Deputy Governor Says Fintech Driving Ghana’s Shift to Digital Finance
Ghana’s rapidly expanding fintech industry has become a key driver of financial inclusion and a central pillar of the country’s digital transformation, according to the Second Deputy Governor of the Bank of Ghana (BoG), Mrs. Matilda Asante-Asiedu.
Speaking at the MoMo Fintech Stakeholders Forum in Accra on Wednesday, Mrs. Asante-Asiedu said innovations in mobile money and digital lending are reshaping how Ghanaians save, borrow, and transact. She noted that the global fintech market is projected to reach $400bn by 2028, with digital lending volumes surpassing $1.3tn, underscoring the pace of technological change across the financial sector.
“The fintech revolution is not merely quantitative but cultural,” she said. “It is changing how individuals and businesses think about money, access financial services, and interact with financial institutions.”
Mobile money transactions in Ghana continue to record strong growth, she added, reflecting the country’s shift toward a more inclusive, digitally enabled financial ecosystem. Industry data from the Bank of Ghana show that the value of mobile money transactions has more than doubled in the past three years, outpacing traditional banking growth.
Mrs. Asante-Asiedu emphasised that regulators, innovators, and service providers must collaborate closely to ensure the sustainability of the sector’s expansion. “The future of finance depends on our ability to balance innovation with sound regulation,” she said.
The central bank has in recent years intensified its oversight of the fintech industry through initiatives such as the Regulatory Sandbox and the Payment Systems and Services Act, designed to foster innovation while safeguarding consumer protection and financial stability.
