Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has urged central banks to focus on regulating the risks associated with emerging technologies rather than restricting innovation itself.

Speaking at the 2026 ACI World Congress, Dr Asiama said regulators must strike a careful balance between encouraging financial innovation and safeguarding stability within the financial system.

He explained that technological advancements in the financial sector present significant opportunities for growth and inclusion, but also require strong oversight mechanisms to prevent systemic risks.

“Innovation versus stability is just another trade-off central banks have to balance. How do we do this? Regulatory sandboxes and innovation hubs. These offer a controlled environment within which these can be developed but at the same time ensuring that you are regulating the risk without frustrating the technology,” he stated.

According to Dr Asiama, the Bank of Ghana has adopted a regulatory strategy that prioritises risk management while creating space for innovation to flourish.

“For us in Ghana, that is one approach we have been adopting; do not regulate the technology but regulate the risk. Walk with them, know what it is about so that you do not frustrate but rather facilitate in your approach,” he added.

He noted that initiatives such as regulatory sandboxes and innovation hubs are helping central banks better understand emerging financial technologies while ensuring that the integrity and stability of the financial sector are maintained.

Dr Asiama stressed that closer collaboration between regulators and innovators would be essential to building a resilient and modern financial ecosystem capable of supporting economic development across the continent.