Accra: The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, is advocating a more aggressive deployment of capital by Ghana's business executives to stimulate value addition, industrialisation, and innovation as the country transitions from recovery to sustained prosperity. He emphasized that while macroeconomic stability creates an enabling environment for business expansion and economic growth, the private sector is crucial in driving the country's economic reset and transformation agenda.
According to Ghana News Agency, Governor Asiama, speaking at the 10th Ghana CEO Summit in Accra, highlighted that Ghana has transitioned from economic recovery to a phase where these gains need to be converted into a foundation for industrial competitiveness and inclusive long-term growth. He urged Chief Executive Officers (CEOs) to act as stewards of national prosperity, emphasizing that the Central Bank will provide the necessary stability and a modern digital finance system to support their investments.
Governor Asiama described CEOs as the architects of economic growth, job creators, and innovators shaping the future of Ghana. He pointed out that private sector leadership is a national responsibility that CEOs must embrace with deliberate intent. The economic reset and long-term growth of Ghana, he elaborated, rely on four key pillars: economic diversification, value addition and industrialisation, stronger public-private partnerships, and governance and institutional integrity.
He stressed that Ghana's economic transformation requires disciplined policy choices, resilient institutions, innovative businesses, and courageous leadership. Dr. Asiama noted the progress made in recent months, attributing it to decisive institutional actions, strengthened policy coordination, and the public-private sector's collaboration towards economic transformation.
Dr. Asiama urged for the development of a more competitive, innovative, and resilient economy that creates opportunities and prosperity for all Ghanaians. The Central Bank has navigated challenging economic conditions, resulting in moderated inflation, improved reserves, and a rebound in investor and public confidence. However, he cautioned against complacency, citing the ongoing Middle East conflict as a reminder of the global environment's uncertainty.
He encouraged businesses to adapt quickly, embrace technology, and cultivate cultures of continuous learning to establish an economy that is more competitive, innovative, resilient, and provides genuine opportunities for all Ghanaians. The Bank of Ghana has established three new departments in the past year to promote a modern, inclusive, and efficient payment ecosystem in line with the global digital finance revolution. These include the Fintech and Innovation Department, Data Analytics and Artificial Intelligence (AI) Department, and a Virtual Assets Regulatory Department. The Bank aims to explore its e-Cedi for cross-border and wholesale payments.
Dr. Asiama emphasized the need for responsible and inclusive digitization, urging that innovation be accompanied by sound governance, ethical safeguards, cybersecurity resilience, and consumer protection.