The Bank of Ghana (BoG) is developing new rules tailored for fintech companies as part of efforts to strengthen the sector and support its expansion across Africa.

Head of Fintech and Innovation at the BoG, Owureku Asare, said the central bank is proposing a continental fintech sandbox to allow Ghanaian innovators to test and scale products across multiple African jurisdictions.

“There’s also the need for us to build a continental FinTech sandbox that will allow Ghanaian innovators to test and scale products across African jurisdictions,” he stated during the launch of the MoMo FinTech Lab on Wednesday, August 12, 2026.

The BoG is also working on a national innovation hub and plans to introduce programmes aimed at improving access to financial services.

Asare noted that while Ghana has made strong progress in financial inclusion, the next step is to ensure citizens derive greater value from the services they use.

He revealed that the BoG is piloting a cross‑border payment system with Rwanda to make money transfers easier between the two countries.

Ghana is also in talks with Nigeria and seven other African nations to expand the initiative, addressing challenges businesses and consumers face in moving money across borders.

The central bank stated that it will continue collaborating with fintech companies to ensure the sector grows in a safe, responsible, and inclusive manner, while providing a clear legal framework to protect customers and the financial system.

DR/SA