The Bank of Ghana (BoG) is requiring all commercial banks to create dedicated banking desks and specialized teams. This directive aims to improve access to credit for businesses. Mrs. Matilda Asante-Asiedu, the Second Deputy Governor, announced the policy.
She spoke at the 2026 Ghana Female CEOs Summit in Accra. The BoG is working with international partners. They are developing a policy framework to address barriers to loans. The goal is to deepen financial inclusion nationwide. This also aims to support overall enterprise growth.
This initiative is part of the central bank's larger strategy. It aims to increase participation in Ghana's financial sector. Stronger participation can fuel business expansion. Mrs. Asante-Asiedu stated that banks are already following the new rule. Many have introduced specific products and support services. These go beyond just financial products. They offer both financial and non-financial assistance.
The BoG is also investing in digital financial services. They are expanding interoperable payment systems. Cross-border financial links are also a focus. Cybersecurity and consumer protection measures are being strengthened. These steps create a better foundation for businesses. Ghana aims to compete better regionally and across Africa. The African Continental Free Trade Area (AfCFTA) is a key consideration.
Mrs. Asante-Asiedu urged financial institutions. They should adopt data-driven lending. This is especially for customers with good repayment histories. Businesses with stable models should get fair treatment. “The numbers are clear. The business case is unassailable. The time is now,” she emphasized. Financial institutions must value disciplined borrowers. They should offer accessible financing. Fair pricing is also important.
The central bank's actions reflect a broader economic push. Ghana seeks to strengthen its private sector. Easier credit access can unlock new investments. It can also help existing businesses grow. This is vital for job creation. Improved financial services can reduce economic inequality. It allows more Ghanaians to participate fully.