The Bank of Ghana (BoG) has begun consultations with industry stakeholders on a new five-year National Payment Systems Strategy (2025–2029), aimed at advancing a safer, more inclusive, and resilient digital financial ecosystem.
Speaking at the opening of the National Payment Systems Workshop 2025 in Accra, First Deputy Governor of the Bank, Dr Zakari Mumuni, said the new strategy will build on the remarkable progress achieved under the 2019–2024 framework, which saw Ghana emerge as one of Africa’s leaders in payment systems development.
“Over the past five years, we have witnessed the expansion of digital payment channels, deepened interoperability, and strengthened regulatory frameworks that foster trust and innovation,” Dr Mumuni said. “These collective efforts have enhanced access, empowered consumers, and positioned Ghana at the forefront of digital finance on the continent.”
He, however, noted that the evolving global financial landscape, driven by virtual assets, tokenisation, and data-driven financial technologies demands a reimagined approach to payments infrastructure and regulation.
Dr Mumuni emphasised that while interoperability continues to enhance efficiency and convenience, the rapid growth of digital finance has also led to increased cybersecurity threats and online fraud. He urged all players to remain vigilant and collaborative in safeguarding trust and integrity within the ecosystem.
To mitigate these risks and deepen inclusion, the Deputy Governor highlighted BoG’s support for open banking, electronic Know Your Customer (eKYC) systems, and trusted digital identity frameworks, which are making it easier and more cost-effective for non-bank entities to participate in the payments space.
“We must not allow these risks, though formidable, to erode the progress we have made. Our collective resolve as regulators, innovators, and industry stakeholders is stronger than the challenges confronting us,” he said.
Dr Mumuni described the 2025–2029 strategy as both a continuation and transformation of Ghana’s digital finance agenda. He said it represents an opportunity to build a more resilient, inclusive, and globally competitive payments ecosystem.
The workshop, which brings together representatives from commercial banks, fintechs, mobile money operators, and development partners, will provide a platform for open dialogue and evidence-based review of the draft strategy.
Inputs from the discussions are expected to refine the document and ensure its responsiveness to the rapidly changing digital financial environment.
