Ghana FinTech and Payments Association Backs Dr Asiama for BoG Governorship Amid Economic Strain
The Ghana FinTech and Payments Association has thrown its support behind Dr. Johnson Asiama for the role of Governor of the Bank of Ghana (BoG), as the country grapples with high inflation, currency depreciation, and rising public debt.
Asiama, a seasoned central banker with over two decades of regulatory experience, is seen as a stabilising force at a time when Ghana faces mounting economic headwinds. His nomination comes as the cedi remains under pressure, having depreciated by 24.8% against the US dollar, 28.6% against the pound, and 25.5% against the euro in 2024, despite signs of recovery in the latter part of the year.
Martin Awagah, President of the Ghana FinTech and Payments Association, highlighted Asiama’s technical acumen and ability to navigate both traditional monetary policy and the evolving fintech landscape.
“With the rapid evolution of global financial infrastructure—shaped by AI, blockchain, and digital currencies—Ghana requires a forward-thinking leader who understands both conventional monetary mechanisms and modern financial technology,” Awagah said.
If confirmed, Asiama will be tasked with restoring investor confidence and addressing macroeconomic imbalances. His tenure as Second Deputy Governor in 2016 saw him implement measures to stabilise the cedi, including bolstering foreign exchange reserves and curbing speculative activity.
Market analysts argue that his deep institutional knowledge, expertise in monetary policy, and history of pragmatic decision-making position him as a credible figure to lead the central bank at this critical juncture. His appointment, if approved by the Council of State, is expected to focus on exchange rate stabilisation, inflation control, and the integration of fintech solutions into Ghana’s broader financial system.
Asiama’s leadership will be closely watched by investors and policymakers, with expectations that he will balance monetary tightening with structural reforms to support long-term economic stability.
