Absa Bank, GAB Champion Digital Finance Evolution with Focus on Inclusion and Regulation

Absa Bank Ghana and the Ghana Association of Banks (GAB) have reaffirmed their commitment to shaping Ghana’s digital economy, hosting a high-impact forum under the theme “Digital Finance in Ghana: Balancing Innovation, Inclusion and Regulation.”

The forum brought together a dynamic mix of regulators, fintech leaders, banking executives, and policy stakeholders to explore how Ghana’s financial system can evolve to meet the needs of a rapidly digitizing population without compromising stability, trust, or equitable access.

Delivering the keynote address, Governor of the Bank of Ghana, Dr. Johnson P. Asiama, set the tone with a strategic outlook on the future of digital finance in Ghana. But he challenged the industry to move beyond basic access to delivering transformative value.

Absa Bank Ghana’s Managing Director, Dr. Edward Nartey Botchway, echoed the call for deeper industry accountability and stakeholder collaboration.

“As we advance digital finance in Ghana, the responsibility for safeguarding data and protecting customers cannot rest solely with regulators. Industry players must embrace self-regulation, prioritize consumer education, and commit to working collaboratively to ensure that innovation does not outpace trust.” he said.

His remarks highlighted the growing importance of data integrity, cybersecurity, and ethical innovation as core pillars of the digital transformation journey.

Absa Bank‘s Compliance Director, Judith Hazel, emphasized the bank’s inclusive approach to digital innovation.

“Financial inclusion and innovation are very dear to our hearts,  it’s not just about extending digital services, but ensuring safety, reliability, trust, and efficiency especially for underserved communities,” she said.

Fintech Disruption and Regulatory Agility

A presentation by Dr. Kwame Oppong, Director of FinTech and Innovation at the Bank of Ghana, addressed the disruptive forces shaping the financial ecosystem from digital assets to AI-powered financial products.

Dr. Oppong called for regulatory agility, stressing the importance of a risk-sensitive, adaptive framework that enables innovation while managing systemic threats.

“Emerging technologies offer great promise but also demand a rethink of our regulatory posture,” he said.

The Way Forward: Collaboration and Consumer-Centric Innovation

The event’s flagship panel discussion explored “The Digitalization of Finance: Implications of Fintech Developments for Banks and Regulators.” Panelists from banks, fintechs, and regulatory institutions unpacked issues around open banking, financial data sharing, and the convergence of traditional banking with platform-based services.

The consensus centered on the fact that innovation must be inclusive, and regulation must be forward-looking. Stakeholders agreed that Ghana’s digital finance sector can only thrive with sustained cooperation, proactive regulation, and consumer trust at its core.

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