The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has called on banks to move beyond traditional lending and play a more active role in supporting productive sectors of the economy, as Ghana continues to record strong economic and financial sector performance despite growing global uncertainties.
Addressing heads of banks at a post-130th Monetary Policy Committee (MPC) engagement in Accra, Dr. Asiama said the domestic economy remains resilient even as geopolitical tensions and external shocks continue to cloud the global outlook.
He noted that the MPC maintained the policy rate at 14% to preserve macroeconomic stability while supporting economic recovery, private sector credit growth, and investment. The Governor revealed that the Bank had also replaced the dynamic cash reserve ratio framework with a uniform 20% cash reserve ratio maintained entirely in domestic currency to improve liquidity management and strengthen monetary policy transmission.
According to Dr. Asiama, Ghana’s economic indicators continue to point to a strong recovery. The Composite Index of Economic Activity expanded by 12.6% in March 2026, while headline inflation remained relatively low at 3.7 per cent in May despite recent increases. He further highlighted a fiscal surplus of 0.1% of GDP in the first quarter of the year and a current account surplus of US$3.1 billion supported by strong gold and cocoa exports.
The Governor also pointed to significant improvements in the banking sector, with total industry assets rising by 26.6% to GH¢493.9 billion, capital adequacy strengthening to 22.3%, and the Non-Performing Loan (NPL) ratio declining from 23.6% to 18%.
Despite the gains, Dr. Asiama cautioned banks against complacency and urged them to strengthen credit risk management while supporting sectors capable of driving sustainable growth and job creation.
He challenged financial institutions to position themselves as strategic partners to businesses by providing advisory services, supporting entrepreneurship, facilitating access to markets, and developing export-oriented initiatives.
The Governor further disclosed that the Bank of Ghana would work closely with banks to create innovative investment-linked remittance products aimed at channelling remittance inflows into productive investments, business expansion, infrastructure development, and long-term capital formation.
“The challenge before us is not just to preserve stability but to transform stability into prosperity for our people,” Dr. Asiama stated, urging banks to leverage the gains from macroeconomic stability to deepen economic transformation and support Ghana’s long-term development agenda.
