Bank of Ghana launches community banking reforms as Governor announces transition from rural banks @ 50th anniversary celebration
Dr Johnson Pandit Asiama, Governor of the Bank of Ghana, announced major reforms to Ghana's rural banking sector on Thursday, July 16, at the Rural Banking@50 celebration and the transition to Community Banking event held at Bank Square in Accra. These reforms include its transition to community banking and the introduction of urban community banks, which he described as essential to expanding financial inclusion and supporting economic development.
Dr Asiama stated that the reforms would ensure community-based financial institutions continue to serve the needs of Ghanaians while adapting to changing economic realities. He noted that expanding financial inclusion remains one of the most effective ways of improving livelihoods and creating economic opportunities. Dr Asiama paid tribute to the late Dr Amon Nikoi, former Governor of the Bank of Ghana, who introduced the rural banking concept in 1976, and the late Mr Emmanuel Asiedu-Mantey, a former Head of Banking Supervision at the Bank of Ghana.
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The Bank of Ghana is implementing significant reforms to its rural banking sector, transitioning it to community banking and introducing urban
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