Bank of Ghana Governor Dr Johnson Pandit Asiama has urged electronic money issuers to strengthen safeguards for customer funds, cybersecurity and consumer protection as Ghana’s digital payments sector continues to expand.

Dr Asiama made the call following the formal launch of SaoPay as a Dedicated Electronic Money Issuer (DEMI).

In a post on Facebook on October 8, 2026, the Governor said licensed electronic money issuers had a responsibility to ensure that the value represented by electronic money remained real, safe and available to customers when needed.

He said every licensed issuer must maintain rigorous three-way reconciliation between its electronic money platform, its bank position and customer funds.

Dr Asiama also stressed the importance of cyber resilience, including onboarding onto the Financial Industry Command Security Operations Centre (FICSOC), as well as sustained vigilance against fraud, money laundering and terrorist financing.

On consumer protection, he said electronic money issuers must ensure fair treatment of customers, particularly in the management of agent networks and the disclosure of transaction charges before customers complete transactions.

He further cautioned issuers to operate within the boundaries of their licences, noting that savings, credit, insurance and pension products should only be offered through properly regulated partners.

“A licence is not a reward for a good application. It is an authorisation to hold the public's trust, under supervision,” Dr Asiama stated.

He said the formal entry of SaoPay into the digital payments ecosystem was a reminder of the responsibilities that come with holding electronic money.

“Every new entry is a reminder of what an electronic money balance represents. It is cedis held in a new form, and a promise that the value is real, safe and available when needed,” he said.



MA