The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has announced a new phase of regulatory reforms aimed at deepening resilience, strengthening oversight, and aligning Ghana’s banking sector with global best practices.
Speaking at the Post-Monetary Policy Committee (MPC) Engagement with Heads of Banks on Tuesday, December 16, 2025, Dr Asiama stated that the reforms form part of the central bank’s vision to build a modern, competitive, and resilient banking system capable of supporting Ghana’s long-term growth agenda.
According to the Governor, the next phase of reforms will include the introduction of new directives covering stress testing, recovery planning and risk management, aimed at further enhancing the sector’s resilience.
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He also announced a revision of the Risk-Based Supervisory Framework to strengthen forward-looking supervision by focusing on business risk, financial resilience, risk governance and operational resilience. In addition, the Bank of Ghana plans to deepen collaboration with other financial regulators and key industry bodies to safeguard systemic stability and promote trust in the financial system.
“These reforms reflect our vision – a banking sector that is modern, competitive, resilient, and capable of supporting Ghana’s long-term growth agenda,” Dr. Asiama said.
Touching on the current state of the banking industry, the Governor noted that after a period of significant strain, banks have demonstrated resilience, supported by sound liquidity positions, improving capital strength and renewed profitability.
“These gains reflect stronger governance, improved risk management, and a regulatory framework that continues to evolve toward a more forward-looking approach,” he stated.
However, he cautioned that challenges remain, particularly in asset quality, stressing that the Bank of Ghana will continue to work closely with industry players to safeguard stability and support sustainable credit growth.
While acknowledging the progress made, Dr. Asiama urged banks to consolidate the recovery by deepening financial intermediation, improving credit allocation and strengthening governance across the banking sector.
He called on banks to expand credit to the real sector, especially small and medium-sized enterprises (SMEs), while driving innovation to enhance financial access and inclusion, without compromising prudent risk management.
“We call on banks to support the real sector, expand credit to productive enterprises, especially SMEs, and drive innovation that enhances access and inclusion, while managing risk,” he said.
The Governor described 2025 not as the end of a journey, but the beginning of a new phase for the financial sector, noting that the period ahead will require greater discipline, stronger collaboration and a willingness to embrace innovation while preserving prudence.
“The Bank of Ghana will remain a firm, fair, and transparent partner – supportive where necessary, but uncompromising where stability is at risk,” Dr. Asiama said, expressing confidence that continued collaboration with the banking industry will deliver a stronger, more modern and more resilient financial system capable of supporting Ghana’s economic transformation in the years ahead.
Norvan Reports