The First Deputy Governor of the Bank of Ghana (BoG), Dr. Zakari Mumuni, has underscored the necessity for Africa’s digital asset economy to be founded on principles of “trust, inclusion, and sound institutions,” rather than mere speculation.
Emphasizing the Bank’s proactive stance towards innovation, he pointed out that a legal framework for Virtual Asset Service Providers has been established under Act 1154. Dr. Mumuni also mentioned that the Bank has enhanced collaboration among key regulators, established a dedicated Virtual Assets Department, and continues to utilize its Regulatory Sandbox to foster responsible innovation.
On Friday, 19 June, Dr. Zakari Mumuni presented the keynote address at the Standard Chartered Digital Assets Summit in Accra, where he articulated Ghana’s vision for creating a trusted, inclusive, and resilient digital assets ecosystem.
In his address to industry leaders, regulators, innovators, and financial institutions, Dr. Mumuni remarked, “The question is no longer whether digital assets will influence African finance. They already are. The real question is whether we will intentionally shape that future,” he stated.
He further emphasized that while digital innovation offers substantial opportunities for cross-border payments, financial inclusion, and capital market development, it should complement, rather than replace, the Ghana cedi.
“Whatever we create, tokenize, or otherwise, we must ensure that it does not displace the cedi. A robust digital ecosystem should enhance public currency, not compete with it,” he asserted.
The First Deputy Governor urged increased collaboration among regulators, financial institutions, and innovators throughout the continent to establish a secure and interoperable digital financial ecosystem that facilitates Africa’s economic transformation.
