Bank of Ghana governor highlights payments fragmentation and liquidity risks at reconstituted advisory committee

Bank of Ghana Governor Johnson Pandit Asiama highlighted gaps in payments integration and operational risks in opening remarks at the inaugural meeting of the reconstituted Payment Systems Advisory Committee (PSAC). Low adoption of GhQR, the absence of agent interoperability and growing reliance on bilateral rather than multilateral arrangements are fragmenting the payments ecosystem. Mobile money liquidity and float management, cyber threats and fraud present further challenges. These interconnected issues have implications for competition, consumer protection, financial stability and confidence in digital financial services. The committee’s work is framed by the recently developed National Payment Systems Strategy 2025-2029, whose draft was discussed with stakeholders in October 2025. Its four pillars cover a sound and adaptable regulatory framework, trusted payment systems, greater financial inclusion and robust payment infrastructure. Asiama urged members to develop practical recommendations and anticipate emerging challenges before they become systemic risks, with technical working groups providing analysis to support that work. The priorities accompany substantial growth in digital payments: platforms operated by Ghana Interbank Payment and Settlement Systems Limited processed approximately 530 million transactions worth more than GHS 1.73 trillion in 2025.