Bank of Ghana Governor Dr. Johnson Pandit Asiama says Africa’s financial sector has reached a turning point and must now shift from expanding access to shaping the next phase of digital finance.
Speaking at the opening of the 3iAfrica Summit 2026 at the Destiny Arena in Accra, Dr. Asiama said the continent can no longer be a passive adopter of financial technology.
“Africa has reached a point where participation is no longer the ambition.
Leadership is,” he told delegates at the second edition of the summit, co-hosted by the Bank of Ghana, GhIPSS, and Singapore’s Global Finance & Technology Network.
Citing a recent World Bank report, Dr. Asiama noted that about 49% of adults in Sub-Saharan Africa now have access to digital financial accounts — a milestone largely driven by mobile money and branchless banking.
But he warned that the focus must now move beyond access to creating real economic value.
“The next phase of digital finance will not be defined by payments alone,” he said. “The opportunity now lies in building the next layer of value — digital credit, merchant payments, embedded finance, supply chain finance, and cross-border services.”
He stressed that these products must be tailored to the realities of women, MSMEs, young people, and the informal sector.
The Governor outlined the Bank of Ghana’s approach to balancing regulation with innovation, highlighting four key initiatives: advancing the regulatory regime for virtual assets, issuing guidelines for digital credit, progressing open banking, and supporting cross-border fintech activity.
“Regulation and growth are not opposing forces. They must reinforce each other,” he said. “Our objective has been clear: to build a regulatory and market environment that supports innovation, while maintaining stability and trust.”
He added that confidence in the digital ecosystem will depend on stronger digital identity and KYC frameworks, warning that weak authentication increases fraud risk and undermines trust in digital financial services.
Dr. Asiama said the next phase will require better coordination across institutions, improved data quality, and more robust identity systems. He also called for deliberate support for indigenous African fintech firms to scale sustainably.
“Africa’s digital finance ecosystem must not only grow. It must mature. Firms with strong potential must have access to the partnerships, capital, and infrastructure required to scale sustainably,” he said.
The Governor said the success of the 3iAfrica Summit will not be judged by speeches but by outcomes — stronger alignment across markets, better coordination among regulators, and faster progress toward inclusive, scalable financial systems.
“This Summit is therefore more than a gathering of regulators, innovators and investors. It is a signal of where Africa must now go. Digital finance is no longer at the margins of financial sector development. It is central to how value is created, how trust is built, how markets are connected, and how economies compete.”
The three-day summit runs through May 8 at the Destiny Arena in Accra.
