The Bank of Ghana (BoG) is charting a new course for the country’s payment systems through a forward-looking strategy that will promote innovation and expand financial inclusion to safeguard stability across the digital economy.
Speaking at the opening of the Public National Payment Systems Workshop 2025 in Accra, First Deputy Governor, Dr. Zakari Mumuni, said the new National Payment Systems Strategy (2025–2029) will prioritise interoperability, open banking and digital infrastructure as key enablers of growth and inclusion.
Dr. Mumuni explained that the updated strategy will introduce data-sharing frameworks, electronic Know Your Customer (eKYC) systems as well as trusted digital identity solutions to make participation in the payments ecosystem easier and more cost-effective for both banks and non-bank entities.
“Policymakers and regulators are implementing forward-looking strategies that preserve innovation while safeguarding stability. Through initiatives such as open banking, eKYC, and digital ID systems, we are lowering entry barriers and broadening access to financial services in new and meaningful ways.” Dr. Mumuni stated.
The Deputy Governor emphasised that as Ghana’s digital economy continues to mature, maintaining public trust and system integrity will remain a central pillar of the Bank’s regulatory approach.
He also cautioned that the surge in cyber threats and online fraud must not be allowed to undermine the progress made in digital financial transformation as he called for stronger collaboration among regulators, industry players and innovators.
“We must not allow these risks, though formidable, to erode the considerable progress we have made. Our collective resolve, spanning regulators, innovators and industry stakeholders is stronger than the challenges confronting us.”
“The transition to the new National Payment Systems Strategy (2025-2029) represents not just continuity, but transformation. It is an opportunity to reimagine our payment systems for the next phase of Ghana’s digital economy; one that is more resilient, inclusive and globally competitive”, the First Deputy Governor added.
The Public National Payment Systems Workshop 2025 brings together key stakeholders including banks, fintechs, payment service providers, mobile money operators and development partners to deliberate on the draft strategy.
The final document is expected to guide policy direction and investments in Ghana’s payment ecosystem over the next five years.