Ghana's central bank is moving to put guardrails around artificial intelligence in the financial sector. The Bank of Ghana (BoG) is developing a dedicated AI directive that will govern how financial institutions deploy the technology — a move aimed at encouraging innovation while keeping emerging risks in check.
Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana, announced the directive at the maiden launch of Ghana in Numbers 2025, a flagship publication by the Ghana Statistical Service (GSS), held in Accra. He said the directive would strengthen data governance, sharpen institutional decision-making, and ensure responsible use of emerging technologies across the sector.
"We want to promote innovation but at the same time address the emerging risks that can evolve from this," — Dr. Johnson Pandit Asiama, Governor, Bank of Ghana
A New Department to Drive Data and AI Policy
Beyond the directive, Dr. Asiama disclosed that the BoG is actively building its internal analytical muscle. The central bank is establishing a Data Analytics and Artificial Intelligence Department to support policy analysis and institutional decision-making — a signal that AI is not just something the BoG wants to regulate, but a tool it intends to use itself.
This kind of in-house AI capacity-building mirrors a broader trend in African central banks and financial regulators investing in data infrastructure to keep pace with fast-moving fintech ecosystems.
A Call for Machine-Readable Economic Data
Dr. Asiama also used the platform to push for a dedicated electronic portal that would make the data behind Ghana in Numbers available in accessible, machine-readable formats. He argued that such a platform would allow researchers, policymakers, academics, and businesses to apply advanced analytical tools to spot patterns not immediately visible in published tables and charts.
The Governor welcomed the inclusion of a dedicated monetary and financial sector section in the 2025 publication — a section drawing heavily on official BoG data. It covers inflation, interest rates, credit to businesses and households, foreign reserves, and overall banking sector conditions.
"As an inflation targeting central bank, our decisions are both forward-looking and data-driven all the time," — Dr. Asiama
Lending Rates Cut Nearly in Half, Credit Growth Surges
Dr. Asiama also pointed to concrete improvements in Ghana's lending environment. The average lending rate dropped sharply from 30.25% in December 2024 to approximately 15.7% by September 2026 — a decline he attributed to the central bank's macroeconomic management over the past two years.
Inflation, meanwhile, has held in single digits for 13 consecutive months — a milestone for an economy that was battling a severe cost-of-living crisis not long ago. Dr. Asiama noted that accurate economic data helps the BoG assess inflation trends alongside exchange rates, credit conditions, and developments in the external environment.
Why the AI Directive Matters for Financial Institutions
Ghana's financial sector has seen growing adoption of AI-powered tools in credit scoring, fraud detection, and customer service — areas where data security and algorithmic accountability are real concerns. A formal BoG directive would give institutions clearer rules on how to deploy these tools without exposing customers or the broader system to unchecked risks.
The BoG has not yet released a timeline for when the directive will be finalised or published for public comment. But with the central bank simultaneously building its own AI department and calling for better data infrastructure, the direction of travel is clear: Ghana's financial regulator is getting serious about the AI era.