Ghana's president backs its central bank to enforce banking laws

Ghana’s president, Nana Akuffo-Addo has entreated the Bank of Ghana (BoG) to work on creating and maintaining a healthy financial sector by ensuring strict adherence to the various laws governing the sector.

President Nana Addo Dankwa Akufo-Addo

Delivering the keynote address at the ongoing 2019 SWIFT African Regional Conference in Accra, Nana Akufo-Addo said the government he leads is committed to ensuring that Ghana’s banking sector is sanitized.

He urged the Bank of Ghana to ensure the country’s financial sector remains healthy by conforming with international standards.

The president also said that there is a need for Africa to position itself in order to benefit from the global digital run.

“Swift is working with Ghana to reduce vulnerabilities to these external risks. Our part is as a result of the reforms we are undertaking to sanitise our nation's banking sector. I continue to ask the bank of Ghana to make sure that our countries financial sector remains fit for global integration by ensuring compliance with international systems and standards.”

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global, member-owned cooperative and the world’s leading provider of secure financial messaging services. Its messaging platform connects over 11,000 banking and securities organisations, market infrastructure and corporate customers in over 200 countries and territories.

Meanwhile, speaking at the same conference, the governor of the BoG, Dr Ernest Addison said the central bank is committed to formalizing the Ghanaian economy through digitisation, as it is a key component of the “Ghana Beyond Aid Agenda”.

“The government of Ghana’s commitment to formalize the Ghanaian economy through digitization is laudable. It is a key component of the “Ghana Beyond Aid Agenda” he added.

Our newsletter gives you access to a curated selection of the most important stories daily.

Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more. Also join us across all of our other channels - we love to be connected!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Eddie Butita speaks on his fallout with Miss Mandi, offers her a job

Sadio Mane the odd one out as Bayern Munich stars take team photo with glasses of beer

Sadio Mane the odd one out as Bayern Munich stars take team photo with glasses of beer

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022

Africa's richest man, Aliko Dangote, adds extra $915 million to his vast wealth in Q1 2022