Invest More In Extractive Sector To Boost Revenue – IFS To Govt

Dr. Pandit Johnson Asiama

Governor of the Bank of Ghana, Dr. Pandit Johnson Asiama, has stated that virtual assets and tokenisation will help promote financial inclusion, reduce transaction costs and improve the efficiency of the country’s financial system.

Dr. Asiama who said this during Africa Virtual Assets Summit 2026 in Accra mentioned that emerging digital financial technologies could help address longstanding challenges in the financial sector, including limited access to capital, high transaction costs, fragmented financial infrastructure and barriers to cross-border payments and investment.

While emphasising the need for appropriate safeguards to ensure stability and public confidence, he said the country should deliberately harness technological developments to build a financial system that serves more people at lower cost without compromising stability.

“The ultimate objective is to build a financial system that is more inclusive, efficient and resilient, allowing traders, farmers, small businesses and technology developers to benefit from faster, cheaper and safer financial services.

“The discussion before us is not simply about a new class of digital assets. It is about how technology could reshape the architecture of Ghana’s financial system, and how we shape these developments deliberately, so that the system serves more people at lower cost while preserving the stability and public confidence on which it depends,” he stated.

Dr. Asiama noted that the Central Bank had already demonstrated its capacity to adopt financial technology on a large scale, citing mobile money transactions as evidence of the country’s progress.

He mentioned tokenisation as an opportunity to expand access to financing, particularly for small businesses and exporters.

Hs said Tokenisation, which involves representing ownership of or rights to assets such as securities, commodities and trade receivables in digital form, could enable small exporters to access financing earlier and at lower cost, reduce settlement periods from days to minutes and create new channels for businesses to raise capital.

He, however, indicated that the benefits of the technologies would depend on their ability to address real economic challenges rather than simply introduce new financial products.

“Neither virtual assets nor tokenisation is an end in itself. Their value lies in solving real economic problems. That is the future we should be building towards,” Dr. Asiama added

He said that although stablecoins could improve payments and settlement, their growing adoption, particularly those denominated in foreign currencies, could have implications for monetary sovereignty, currency substitution, capital flows and the effectiveness of monetary policy.

Dr. Asiama therefore stated that innovation in digital finance should support, rather than weaken confidence in the cedi and the financial system.

He said effective regulation should be proportionate to the nature, scale and complexity of virtual asset activities, with particular attention to consumer and investor protection as well as safeguard customer assets and financial integrity.

“Our collective task is not simply to build a digital asset market. It is to build an ecosystem that is safe enough to be trusted, inclusive enough to serve our people, and innovative enough to support Africa’s future,” he added.

By Ebenezer K. Amponsah

The post Invest More In Extractive Sector To Boost Revenue – IFS To Govt appeared first on DailyGuide Network.