The Bank of Ghana is calling for stronger integration of cyber security protocols across the financial sector, with an emphasis on cross-border collaboration to address growing risks.
The central bank’s position follows an uptick in cyber security threats, which it identifies as a constraint to advancing financial inclusion.
Speaking on behalf of the governor at the 2025 African Financial Inclusion Policy Initiative meetings on Friday, 20th June, 2025, First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, said coordinated efforts are required to mitigate the impact of cyber threats on financial.
“Cybersecurity threats do not respect borders. No country, however advanced, can confront them alone; that is why regional coordination through platforms like AFI is indispensable. Through peer learning, harmonized supervision, and shared intelligence, we are building a collective response that reflects our unique regional realities.
“We must continue to invest in common frameworks for early warnings and incident reporting, scenario-based preparedness exercises, and proportionate regulations for Fintechs and E-money providers. We also must have cooperative cross-border response mechanisms,” he said.
Executive Director of the Alliance for Financial Inclusion Dr. Alfred Hannig on his part stressed the need for cyber security resilience in the sub region to protect the vulnerable in society
“Technologies come with risks which can have dramatic consequences especially for the vulnerable because if you don’t get it right, poor people can lose the little they have in just one day. This is why we here to discuss how we can turn this development into a very positive development.
The 14th Annual Roundtable of the Leaders of the African Financial Inclusion Policy Initiative (AfPI) meetings brought together key financial sector players across the sub region to discuss measures to promote financial inclusion and combating cyber security risks