Accra, Ghana – Bank of Ghana Governor Dr. Johnson Pandit Asiama has called upon African policymakers and industry leaders to transition from passive followers to active shapers of the global financial landscape. Speaking at the 3i Africa Summit in Accra, he emphasized that the continent is at a pivotal moment where deliberate action and continental coordination are essential to define its role in the evolving financial system.
Context: Digital Finance as a Foundation
Africa has witnessed remarkable progress in expanding financial inclusion over the past decade. The widespread adoption of digital financial services, particularly mobile money and branchless banking, has significantly increased access to financial accounts for millions of Africans.
According to Dr. Asiama, approximately 49% of adults in Sub-Saharan Africa now possess digital financial accounts. This widespread access represents a foundational achievement upon which further financial transformation can be built.
Shifting Focus: From Access to Impact and Integration
While celebrating the gains in access, Dr. Asiama stressed that the continent must now shift its focus from mere inclusion to achieving tangible economic impact. The challenge ahead is to ensure that this increased access translates into meaningful economic outcomes and provides real value to users and the broader economy.
The next phase of digital finance in Africa hinges on the effective integration of existing systems and the harmonization of policies across borders. The governor noted that the primary challenge is no longer the creation of financial systems but their seamless interconnection.
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