Virtual assets could produce Ghana's first under-40 billionaires – SEC

Ghana’s Securities and Exchange Commission (SEC) says it is creating the right regulatory environment for virtual assets to grow and potentially produce the country’s first wave of self-made millionaires and billionaires under the age of 40.

The move, which could mark a shift in how wealth is created in the West African economy, is expected to serve as a major driver of entrepreneurship, particularly among young people, by providing capital for business growth and sustainability.

Mensah Thompson, Acting Deputy Director-General of the SEC, made this known at a virtual assets forum on the sidelines of the 2026 3i Africa Summit.

The forum was on the theme: “Ghana’s approach to virtual assets: Enabling innovation while safeguarding stability.”

Virtual assets, including cryptocurrencies, stablecoins, non-fungible tokens (NFTs), DeFi tokens, and tokenised securities, are digital representations of value that can be traded, transferred, and used for payments or investment.

“Virtual assets are going to create a new generation of global billionaires from Africa and Ghana, billionaires who created their own wealth. For the first time, we are going to see millionaires and billionaires under 40 in this country,” Thompson said.

His optimism was based on global trends, with more than 560 million people worldwide holding virtual assets, and projections showing tokenised assets in bonds, equities, and real estate could reach US$10 to US$16 trillion by 2030.

He noted that the shift from traditional wealth creation, such as inheritance or family businesses, to technology-driven innovation presents an opportunity for young Ghanaians to build scalable companies in digital finance, blockchain, and virtual asset services.

Thompson described Ghana’s current macroeconomic environment as a fertile ground for young entrepreneurs to build globally competitive companies, with the regulator positioning itself as an enabler.

“These are not companies in construction or trading. The next generation of employers will be technological builders, digital innovators, and entrepreneurs—many of whom are here today,” he said.

He added that the SEC has established a dedicated Virtual Assets Committee, working with the Bank of Ghana to implement the Virtual Asset Service Providers Act, 2025 (Act 1154), to protect investors and market participants.

He also noted that an operational regulatory sandbox has admitted 17 firms—11 under the SEC and six under the Central Bank—allowing selected companies to test crypto-related products under supervision before full licensing.

“The sandbox is designed to collect real-time data so that regulations reflect how the technology is used in Ghana, rather than copying models from abroad. The approach is pro-protection, balancing market integrity with growth,” he said.

He urged local innovators to build solutions in digital investment platforms and critical infrastructure.

“The assignment for you is to create the future. Don’t just study problems—solve problems so big that industries form around them,” he said.

He further assured that investor protection remains a priority.

“We have a market to protect. Our approach is anchored on strong investor protection, robust anti-money laundering compliance, and sound custody and cybersecurity safeguards,” he added.