Ghana's Bank of Ghana (BoG) has prioritized domestic savings mobilization to fund the nation's economic growth. Second Deputy Governor Matilda Asiedu-Asante stated that Ghana holds over GHS 100 billion in pension funds, remittances, and capital market resources that must be directed into productive investments.
This strategic shift aims to translate recent macroeconomic stability into sustainable economic expansion. Ms. Asiedu-Asante emphasized trust, policy credibility, and capital mobilization as essential pillars for continuous growth. The goal is to move beyond short-term gains and ensure a robust, self-reliant economy.
This renewed focus on domestic capital aligns with Ghana's broader economic narrative of reducing dependence on foreign financing. The country has diligently worked to stabilize its economy, achieving lower inflation, declining interest rates, and strengthened international reserves. The challenge now is to convert these stability gains into tangible investments that benefit households and businesses across the country. This approach seeks to build a more resilient financial system and economy.
Addressing the Money Summit 2026, Ms. Asiedu-Asante highlighted the importance of investor confidence. She explained that strong confidence reduces risk premiums and lowers the cost of capital for businesses. This encourages long-term investment, which is vital for sustained growth. The central bank is actively coordinating with financial institutions to create investment products. These products will channel the significant pools of domestic savings into vital sectors of the real economy.
The BoG's emphasis on domestic resource mobilization signals a crucial pivot in Ghana's economic strategy. This move aims to ensure that capital flows into productive areas such as agriculture, manufacturing, and small businesses. Policy initiatives, including credit guarantee schemes and alternative credit scoring systems, will expand access to finance. Bank recapitalization efforts are also underway to strengthen financial institutions, enabling them to support long-term lending better. Businesses, particularly small and medium-sized enterprises (SMEs), will likely benefit from these measures, leading to job creation and economic diversification. The financial system will play a critical role in transforming macroeconomic stability into a truly transformative economic recovery.