The First Deputy Governor of the Bank of Ghana, Dr. Zakari Mumuni, has stressed that Africa’s emerging digital asset economy should be grounded in trust, inclusivity, and strong institutional frameworks rather than speculative activity.
Speaking at the Standard Chartered Digital Assets Summit in Accra on Friday, June 19, he noted that Ghana is actively developing a regulatory environment to support virtual assets, including the establishment of a legal framework for Virtual Asset Service Providers under Act 1154.
He added that the Bank of Ghana has set up a dedicated Virtual Assets Department, strengthened coordination with relevant regulators, and is using its Regulatory Sandbox to encourage safe and responsible financial innovation.
Dr. Mumuni emphasized that digital assets are already shaping Africa’s financial landscape, stressing that the key issue now is whether countries will intentionally guide that transformation.
He also warned that while digital finance presents opportunities for cross-border payments, financial inclusion, and capital market growth, it should not replace national currencies such as the Ghana cedi, but rather strengthen them.
He further called for closer collaboration among regulators, financial institutions, and innovators to build a secure and well-integrated digital financial system that supports economic growth across Africa.
Source: 3news.com
