Bank of Ghana Governor Dr Johnson Pandit Asiama has called for a deeper and more inclusive capital market in Ghana, saying the country cannot finance long-term economic growth solely through short-term deposits and conventional bank credit.
He said greater participation in the capital market would provide businesses and government with access to a broader pool of long-term capital while supporting savings, investment and sustainable economic growth.
Dr Asiama made the remarks on Thursday, September 17, 2026, at the Ghana Stock Exchange in Accra, where he delivered the Guest of Honour address at the official launch of the Central Securities Depository’s investorConnect platform.
According to the Governor, the new digital platform could help address one of the barriers to capital-market participation by allowing investors to access information about their securities more directly and conveniently.
“Ghana cannot finance long-term growth from short-term deposits and conventional bank credit alone,” Dr Asiama said.
“Banks remain central to financing the economy, but a deeper and more inclusive capital market gives businesses and Government access to a broader pool of long-term capital, supports savings and investment, and contributes to sustainable economic growth.”
investorConnect is available through web and mobile applications for iOS and Android, enabling investors to open accounts directly, verify their identities using the Ghana Card, view securities held in their names and review transaction histories.
Dr Asiama said the ability of investors to independently access their records could strengthen confidence in the capital market.
“An investor who cannot see their own records depends entirely on information supplied periodically by someone else. An investor who can see those records is able to verify them. Confidence in a market rests on precisely that ability,” he said.
He noted that the platform did not replace brokers, custodians or investment advisers, whose respective roles would remain important in the investment process.
The Governor also cautioned that digital access alone would not guarantee broader participation, noting that product availability, affordability, investment advice, trading access and financial literacy would continue to influence participation in the market.
He said investorConnect could also help reduce geographical barriers to capital-market participation, particularly for investors outside Accra and Ghanaians living abroad.
“Whether an investor is in Accra, Kumasi, Tamale, Zabzugu or elsewhere in the country, location should increasingly become less of a barrier to accessing information and engaging with the market,” he said.
Dr Asiama, however, stressed that the expansion of digital financial services must be accompanied by strong investor protection measures.
He called on the CSD to safeguard the integrity and confidentiality of investor records, ensure reliable authentication and account-recovery systems, maintain service continuity and provide effective channels for correcting errors and resolving complaints.
He also emphasised the importance of investor education, saying digital access must go hand in hand with financial literacy and an understanding of investment risks and responsibilities.
“My charge to the CSD is straightforward. Treat investorConnect not as an end in itself, but as a foundation for the next generation of investor services. Keep it secure, reliable and increasingly accessible,” Dr Asiama said.
He described the launch as the latest stage in the evolution of Ghana’s securities-market infrastructure and reaffirmed the Bank of Ghana’s commitment to supporting the CSD’s continued development.
The CSD was established following efforts by the Bank of Ghana and the Ghana Stock Exchange to modernise Ghana’s securities market infrastructure. The two depository operations were eventually merged in 2014, with the CSD becoming the surviving institution.
