BoG Governor pushes for wider access to national data to improve policymaking

Bank of Ghana Governor Dr Johnson Pandit Asiama has called on the Ghana Statistical Service (GSS) to make the underlying data in its Ghana in Numbers 2025 report available through an electronic portal to support research, policymaking and advanced data analysis.

He said making the data accessible in machine-readable formats would allow researchers, policymakers and other users to apply artificial intelligence (AI), machine learning and other analytical tools to identify trends and relationships that might not be apparent in published tables and charts.

Speaking at the launch of the maiden edition of the report in Accra on Thursday, October 29, 2026, Dr Asiama said the publication was an important national resource for understanding Ghana’s socio-economic conditions and shaping policy decisions.

“I believe that Ghana in Numbers can go a step further to enhance its value and impact by making the underlying data series available through a dedicated electronic portal in accessible, machine-readable and readily usable formats,” he said.

He explained that such a platform would enable users to explore the data more deeply and uncover patterns, interrelationships and correlations to improve economic analysis and decision-making.

The Governor said reliable statistics were also essential to the Bank of Ghana’s monetary policy decisions, particularly in assessing inflation, exchange rates, economic activity, credit conditions and external developments.

“As an inflation-targeting central bank, our decisions are both forward-looking and data-driven,” he said, adding that such assessments required accurate and timely statistics.

Dr Asiama disclosed that the Bank of Ghana was strengthening its analytical capabilities through the establishment of a Data Analytics and Artificial Intelligence Department.

He also said the Bank was developing a directive to regulate the use of artificial intelligence in the financial sector, as part of efforts to promote innovation while addressing emerging risks.

The Governor said Ghana’s recent macroeconomic gains had contributed to improved credit conditions, creating opportunities for businesses and individuals to access financing.

According to him, the average lending rate declined from 30.25 percent in December 2024 to 15.78 percent in September 2026. He added that growth in real private sector credit had strengthened from 0.20 percent in December 2024 to 26.42 percent in September 2026.

Dr Asiama also noted that inflation had remained in single digits for 13 consecutive months, while the exchange rate had been relatively stable despite external pressures. He said the resilience of the banking sector had also improved significantly.

He stressed that maintaining macroeconomic stability and improving access to finance were important to supporting productive economic activity, particularly among young people and small businesses.

The Governor said the theme of the report, “Youth and the Demographic Transition,” highlighted the importance of equipping young people with relevant skills, supporting entrepreneurship and creating an enabling environment for investment.

He said Ghana’s large youth population presented significant opportunities for innovation and enterprise development, but realising that potential would require coordinated action and reliable data to guide policy.

“Realising this demographic potential will depend on our ability to equip them with relevant skills, support enterprise development and create an enabling environment for investment,” he said.

Dr Asiama added that the Bank of Ghana was pursuing initiatives to promote financial inclusion, improve financial health and encourage responsible innovation, particularly for young people, women, micro, small and medium-sized enterprises, and underserved communities.

He urged stakeholders to regard Ghana in Numbers as more than a statistical publication, describing it as a national resource for assessing progress, strengthening transparency and supporting evidence-based decisions.

The report brings together official data on Ghana’s demographic, social and economic conditions, including monetary and financial-sector indicators drawn substantially from data produced by the Bank of Ghana.

MA