Digital payments and Fintech: Gaps in regulation, cybersecurity continue to hold back safe and inclusive adoption in Africa - Asiama

Governor of the Bank of Ghana (B0G), Dr Johnson Pandit Asiama, has said that Artificial Intelligence (AI) is the next big shift, and Africa must help shape it rather than simply adopt it.

He made this point in his address on behalf of fellow African Governors at the 2026 African Caucus Meeting with the IMF Managing Director.

Dr Asiama said that the continent has made remarkable progress in digital payments and fintech.

"Gaps in regulation, cybersecurity, infrastructure and financing, however, continue to hold back safe and inclusive adoption," he said.

He added "Bridging these gaps calls for stronger partnerships that build Africa’s capacity to govern AI, gives the continent a louder voice in shaping global digital rules, and mobilises affordable financing for secure digital infrastructure.

"The goal is for AI to work for Africans, driving resilience, jobs and inclusive growth."

In another development, Dr Asiama told investors in Thailand that Ghana is making substantial progress.

He said managers of the local economy are committed to sustaining the policy discipline that underpins confidence in the economy.

On the sidelines of the 2026 IMF/World Bank Annual Meetings, Dr Asiama met with institutional investors, brokers and fund managers to discuss Ghana’s economic outlook and the steps we are taking to make stability durable.

He highlighted that inflation has fallen from 23.8 per cent at the end of 2024 to 5.2 per cent in September 2026, with a cumulative policy rate cut of 1,400 basis points to 14 per cent.

These gains provide a stronger foundation for investment, business planning and growth, he said.

He also mentioned that Moody’s upgrade of Ghana’s sovereign credit rating from Caa1 to B3, with a stable outlook, on 9 October provides further recognition of this progress.

The agency cited improved financing conditions, lower borrowing costs and sustained fiscal discipline supported by institutional improvements.

"We recognise that investors need confidence in the consistency of policy and the resilience of the economy. Our focus remains on rebuilding reserves, strengthening institutions and preserving macroeconomic stability.

"We are closely monitoring global developments, including movements in the US dollar and gold prices, financing conditions and Middle East tensions, ahead of the Monetary Policy Committee’s November decision.

"Our responsibility is to reinforce Ghana’s progress through credible policy and sustained action, creating the conditions for long-term investment and lasting economic opportunity," he said.