Business News of Wednesday, 19 June 2019
President Akufo-Addo has charged the central bank to maintain a fit financial sector by ensuring strict adherence to the various laws governing the sector.
The president made these remarks while delivering his keynote address at the ongoing 2019 SWIFT African Regional Conference in Accra.
President Akuffo Addo, who opened the SWIFT African Regional Conference, elaborated various measures his government is undertaking to sanitise the nation’s banking sector.
While at it, he urged the Bank of Ghana to ensure the country’s financial sector remains healthy by conforming with international standards.
The president also highlighted the need for Africa to position itself in order to benefit from the global digital run.
“Swift is working with Ghana to reduce vulnerabilities to these external risks. Our part is as a result of the reforms we are undertaking to sanitise our nations banking sector. I continue to ask the bank of Ghana to make sure that our countries financial sector remains fit for global integration by ensuring compliance with international systems and standards” he said.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global, member-owned cooperative and the world’s leading provider of secure financial messaging services. Its messaging platform connects over 11,000 banking and securities organisations, market infrastructure and corporate customers in over 200 countries and territories.
Chief Executive, EMEA and Asia Pacific at SWIFT, Alain Raes also stated that his outfit is committed to building a digitized era in Africa.
Meanwhile, the governor of the bank of Ghana, Dr. Ernest Addison speaking at the same conference said his outfit is committed to formalizing the Ghanaian economy through digitisation, as it is a key component of the “Ghana Beyond Aid Agenda”.
“The government of Ghana’s commitment to formalize the Ghanaian economy through digitization is laudable. It is a key component of the “Ghana Beyond Aid Agenda” he added.
This year’s conference which is on the theme “Enabling the digital economy” has brought together 500 professionals from over 45 countries to discuss the most significant challenges and opportunities facing the continent and also deliberate on the way forward in shaping Africa in the digital space.