Leverage financial sector stability to drive economic growth - Dr Asiama to banks

The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has urged commercial banks to leverage the stability in the financial sector to drive economic growth.

Speaking at a meeting with chief executives of banks in Accra on August 13, 2025, Dr Asiama emphasised that the gains made in stabilising the banking system must now translate into tangible benefits for the real economy.

He challenged banks to channel more credit into productive sectors such as agriculture, manufacturing, and infrastructure development, which have the potential to accelerate job creation and improve livelihoods.

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"We have worked hard to restore stability in the banking sector. It is now time for that stability to be translated into real economic growth. I am urging our banks to channel more credit into productive sectors of the economy and provide stronger support for SMEs, which remain the engine of job creation,” he said.

He further underscored the need for stronger support for small and medium-sized enterprises (SMEs), describing them as the backbone of the Ghanaian economy.

“SMEs are critical to our growth agenda, yet they often face challenges in accessing affordable financing. The banking sector must play a bigger role in bridging this gap,” he stated.

SP/MA

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