Bank of Ghana to Introduce Open Banking and Digital Credit Rules for SMEs

Ghana’s central bank plans to roll out new rules for open banking, digital banking and digital credit by the end of the year. According to Deputy Governor Dr. Zakari Mumuni, these frameworks will expand financial access and give small and medium enterprises better tools to grow.

The Bank of Ghana has been adjusting its approach as mobile money, blockchain, artificial intelligence and digital wallets gain ground. Building on the 2019 Payment Systems and Services Act, the bank wants clear guidelines that promote innovation while keeping risks under control.

Alongside these new rules, the central bank is testing several pilot projects. An electronic cedi (e-Cedi) is in the works to complement mobile money. The bank is also experimenting with tokenization efforts such as Universal Trusted Credentials and Semi-Fungible Tokens to support digital identity and asset management.

On the supervisory side, the Bank of Ghana has launched two data-driven platforms. The Supervisory Intelligence system and the Online Regulatory, Analytics and Surveillance System collect detailed data from banks and fintechs. These tools help regulators spot trends, respond faster to threats and make evidence-based policy decisions.

The announcement came during a public-private roundtable in Accra hosted by AyaHQ, a local incubator for blockchain and digital-asset startups. AyaHQ’s founder, Eric Annan, called for special innovation zones where startups, regulators and investors can work together on projects in areas like digital identity, climate tech and decentralized finance.

With these new rules and pilot programs, Ghana is laying the regulatory foundation for a more inclusive, tech-driven financial system. SMEs should soon find it easier to access credit, integrate with payment platforms and compete in both local and cross-border markets.