The Governor of the Bank of Ghana, Johnson Pandit Asiama, has called for stronger integration of African financial and capital markets, warning that countries that fail to align their financial systems risk being left behind in the next phase of global economic transformation.
Speaking at the opening of the ACI Financial Markets Association World Congress 2026 in Accra, Dr. Asiama said the future of financial markets will depend not only on domestic reforms but also on the ability of countries to build seamless cross-border financial systems.
He noted that while capital flows are increasingly global, regulatory frameworks and payment systems across Africa remain fragmented, thereby limiting opportunities for businesses and investors.
“Markets that are not connected will not compete,” he stated.
Dr. Asiama explained that Ghana is collaborating with regional partners to promote harmonised payment systems, fintech licence passporting, and a broader framework for an integrated African financial market. He emphasised the need for financial institutions to operate across jurisdictions without duplicating compliance burdens.
He added that the objective is to establish a system in which cross-border financial transactions across African countries are faster, cheaper, and more efficient.
“A payment initiated in Accra should clear in Abidjan or Lagos as easily as it clears in Kumasi,” he said.
The Governor stressed that regional financial integration is no longer optional but a necessity for competitiveness and investment attraction in a rapidly evolving global financial environment.
He further indicated that Ghana seeks to play a leading role in shaping the continent’s financial architecture, noting that emerging economies are increasingly becoming active participants in policy design rather than passive recipients.
“A growing number of emerging economies, Ghana among them, are no longer countries to which financial market policy happens. We are countries in which financial market policy is being designed,” he added.
