The Governor of the Bank of Ghana, Dr Johnson Asiama, has called for the adoption of emerging digital financial technologies to reduce the cost of sending money to Ghana and make international payments faster.

According to him, Ghanaians living abroad could send money home more quickly and at a lower cost if the country takes advantage of virtual asset technology.

Speaking at the African Virtual Assets Summit (AVAS) 2026 in Accra on Monday, November 2, Dr Asiama said the technology could help address delays and high transaction charges associated with cross-border money transfers.

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“Virtual asset infrastructure could make remittances from our diaspora faster and cheaper,” he said.

He explained that businesses trading across Africa face similar challenges, as payments between neighbouring countries often take too long to process and attract high charges.

Dr Asiama said adopting digital payment systems could help address these challenges and facilitate trade among African businesses under the African Continental Free Trade Area (AfCFTA).

Beyond money transfers, the Governor said the technology could also help small businesses and exporters access loans and other forms of financing more easily.

He explained that tokenisation, which involves converting ownership rights in assets into digital form, could enable businesses to raise funds more quickly without going through lengthy traditional processes.

“It could allow a small exporter to obtain financing earlier and at lower cost, reduce settlement times from days to minutes and give smaller enterprises new channels for raising capital,” he stated.

However, Dr Asiama cautioned that Ghana must establish strong regulatory safeguards to protect consumers and investors before fully harnessing the benefits of these technologies.

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He said the passage of the Virtual Asset Service Providers Act, 2025 (Act 1154), was an important step towards regulating the sector but stressed that effective enforcement would be critical to achieving its objectives.

DR/MA

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