The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has openly reflected on the difficulties that greeted his first 10 months in office, describing a banking environment weighed down by eroded confidence and deep uncertainty.
Speaking at the 2025 Governor’s Day and Annual Bankers’ Dinner organised by the Chartered Institute of Bankers (CIB) Ghana in Accra on Saturday, December 20, Dr Asiama said the fragile state of confidence made policy implementation particularly challenging.
“In such an environment, even well-intended actions struggled to gain traction,” he noted, underscoring the complex task of restoring trust in the financial system after years of stress within the sector.
Despite the headwinds, the Governor said the central bank has remained focused on re-establishing monetary and market discipline, strengthening the balance sheets of banks, and building the institutional infrastructure required to support sustainable economic growth.
Dr Asiama called on banks to take a more proactive role in Ghana’s export-led growth agenda, stressing that a resilient banking system is critical to unlocking trade and investment opportunities. According to him, banks with strong governance structures, sound risk management frameworks and adequate capital buffers are best positioned to expand credit responsibly to productive sectors of the economy.
He further emphasised the need for improved credit discipline across the industry, urging banks to prioritise credit quality and asset quality as part of efforts to stabilise the sector. Dr Asiama highlighted intelligent loan restructuring, rather than indiscriminate credit expansion, as a key tool for managing risk and supporting viable businesses.
The Governor reiterated the Bank of Ghana’s expectation that the industry should work collectively towards achieving a non-performing loans (NPL) ratio of 10 per cent by 2026, describing the target as critical to restoring long-term stability and investor confidence.
The evening also celebrated Dr Asiama’s contributions to the banking industry, with the Chartered Institute of Bankers in Ghana conferring on him an honorary fellowship. The recognition acknowledged his leadership and commitment to strengthening Ghana’s financial system during a period of significant transition.
The Governor’s Day event brought together regulators, bank executives and industry stakeholders, serving as a platform for reflection on the sector’s challenges and a renewed call for collaboration in rebuilding confidence and resilience within Ghana’s banking landscape.
Author: Edem Latsu Nukafu
Edem Latsu Nukafu, a passionate communications professional dedicated to public relations, journalism, media strategy, and content development. He holds both a Diploma and Bachelor of Arts Degree in Communication Studies (Public Relations) from the University of Media, Arts and Communication – UniMAC-IJ. A member of Ghana Journalists Association (GJA).
