The Bank of Ghana (BOG) has called on mobile money operators, fintechs and financial institutions to strengthen compliance and consumer protection measures as the sector expands.
Speaking on behalf of Governor Dr. Johnson Asiama at the 2025 Fintech Stakeholder Dinner and Awards, Hayford Kumah, Head of the FinTech Oversight and Supervision Unit, described Mobile Money Limited as “a vital partner in our shared mission to drive financial inclusion and economic innovation across Ghana and across borders.”
He emphasised that the central bank remains fully committed to promoting innovation, but only within a safe and well-regulated environment. “Our mandate is clear: to foster trust, safety and soundness in the financial system,” he said.
“We are not here to stifle innovation, but to provide a clear and robust framework in which innovation can thrive along with safety and sustainability.” Kumah urged all ecosystem players from fintechs and partner banks to mobile money agents to support this mission by focusing on three core tasks: protecting consumers, combating financial crime, and building trust.
According to him, trust will remain the foundation of Ghana’s digital financial evolution. “The currency of trust is how compliant an institution is,” he stated. “This is what will assure my boss, the Governor, our international partners, as well as every user,that your operations are sound, transparent and built on ethical governance.”
He added that the central bank expects continued collaboration with industry players as it works to strengthen the regulatory environment and safeguard the integrity of Ghana’s fast-growing fintech sector.
Meanwhile, CEO of Mobile Money Limited, Shaibu Haruna, highlighted the industry’s significant growth, noting that Ghana’s mobile money ecosystem now processes over 20 million transactions daily, powered by deep collaboration among banks, fintech innovators and agents.
He described industry players as “the architects of Ghana’s fintech revolution,” adding that their collective work is “impacting the lives of many Ghanaians and providing dignity to the life of Ghanaians.”
He said partnerships across technology providers, liquidity-supporting banks and mobile money agents remain the engine behind Ghana’s digital transformation.
Haruna also pointed to policy reforms and government initiatives that could accelerate sector growth even further. “What we have today is much more than financial inclusion,” he said, citing emerging opportunities in digital lending, open banking, virtual assets and the prospect of a digital currency.
He reaffirmed Mobile Money Limited’s commitment to open collaboration, adding: “Our platform remains very open to driving Ghana’s digital evolution… and we welcome all the brilliant ideas from fintechs, whether start-ups or advanced players.”
The event saw 22 partners honoured for excellence and contribution to Ghana’s fintech ecosystem.
