BoG Pushes Value-Based Banking to Drive Inclusive, Sustainable Growth
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has underscored the importance of value-based banking as a pathway to building an ethical, inclusive and sustainable financial system that prioritises social and environmental impact alongside financial returns.
Delivering the keynote address at the Global Alliance for Banking on Values (GABV) 2025 Africa Chapter Meeting in Accra — read on his behalf by Mr Ismail Adam, Director of the Banking Supervision Department of the BoG — Dr Asiama said the value-based model was a necessary shift from the traditional profit-centred banking structure towards a “triple bottom line” approach of people, planet, and prosperity.
“Unlike traditional banking models that primarily focus on maximising shareholder returns, value-based institutions integrate long-term social, environmental and economic values into their operations,” he noted.
He stressed that in Ghana, where financial exclusion, youth unemployment and environmental degradation remain key challenges, value-based banking provides a credible route to inclusive growth and resilience.
Challenges to transition
Dr Asiama, however, acknowledged the obstacles to widespread adoption of value-based banking. He cited infrastructure deficits in rural areas, high operational costs, the prevalence of informal economic activity, limited financial literacy and low public trust in banks as factors constraining expansion.
Equally, the absence of strong incentives or regulatory mandates for environmental, social and governance (ESG) practices means that most banks continue to prioritise short-term profits over long-term sustainability, he added.
Regulatory support and partnerships
The Governor outlined several measures introduced by the Bank of Ghana to address these challenges, including the rollout of Sustainable Banking Principles developed in collaboration with the Environmental Protection Agency (EPA) and the Ghana Association of Banks (GAB). With support from the International Finance Corporation (IFC), all banks have been trained to integrate ESG factors into their lending and operational decisions.
He further disclosed that the Bank, in partnership with the Chartered Institute of Bankers Ghana (CIB), has established a Code of Conduct and an E-learning programme aimed at promoting ethical standards, restoring public trust, and curbing fraud in the financial sector.
Regional collaboration critical
Dr Asiama also called for deeper regional collaboration, stressing that issues such as climate change, economic instability and inequality required collective solutions. He urged GABV to build inclusive platforms for dialogue, knowledge-sharing and capacity building to strengthen financial inclusion and sustainable banking across Africa.
“Financial institutions must commit to deploying capital in ways that generate positive social and environmental impact. Importantly, they should embed these values within their business models, rather than treat them as peripheral or secondary considerations,” he remarked.
The meeting, hosted at the Labadi Beach Hotel, brought together policymakers, banking professionals and sustainability advocates to deliberate on the role of finance in driving positive economic and societal change.
