CIB Ghana Hosts High-Level Seminar on Monetary Policy and Financial Sector Transformation

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Accra, August 8, 2025 – The Chartered Institute of Bankers, Ghana (CIB Ghana) has hosted a high-level policy seminar under the theme “Monetary Policy in Action: How MPC Decisions Shape Ghana’s Economy and Financial Sector.” The event brought together key stakeholders to explore the real-world impact of monetary policy decisions on lending, inflation, and the financial system.

CIB Ghana President, Benjamin Amenumey, opened the session by reaffirming the Institute’s commitment to national economic discourse.

“Our mandate requires that we promote ethical and professional conduct while advancing the development of the banking profession. Fostering dialogue on monetary policy is a national duty,” he stated.

CIB Ghana CEO, Robert Dzato, shared insights from a new Institute-led survey of senior banking executives. The findings revealed strong alignment with the Bank of Ghana’s (BoG) recent policy direction.

“Over 85 percent of respondents had anticipated the latest rate cut,” Dzato said, adding that stakeholders are calling for stronger alignment between monetary policy and economic growth while raising concerns over liquidity constraints, credit risk, and funding cost volatility.

Disinflation Gains, New Banking Priorities

Dr. Johnson Asiama, Governor of the Bank of Ghana, delivered the keynote address, describing Ghana’s current disinflation path as “real, sustained, and progressive.” He credited improved coordination between the BoG and the Ministry of Finance, with macroeconomic indicators backing the trend:

Inflation dropped from 25.8% in March to 13.7% in June 2025
The Ghana Reference Rate (GRR) fell from 32.5% in January to 27.7% in July
The Cedi appreciated over 40% year-to-date, easing imported inflation

Dr. Asiama urged banks to shift focus from government securities to more active credit intermediation.

“The era of high interest rates and passive investment is ending. Banks must now reimagine their business models, focusing on SMEs, agriculture, and green finance,” he emphasized.

He also warned of an upcoming BoG notice on credit risk, encouraging banks to strengthen their credit infrastructure.

Panel Advocates Pro-Business, Data-Driven Policy

A panel discussion followed, featuring top industry voices:

Prof. Festus Ebo Turkson, MPC member, said the recent rate cut was “data-driven,” reflecting a rigorous economic risk assessment.
Dr. Humphrey Ayim Dake, AGI President, welcomed the lower interest rate outlook: “We expect to see more banking—that is, credit flowing into real businesses.”
Joseph Obeng, GUTA President, highlighted how the Cedi’s stability is already reducing imported goods prices: “If the Cedi holds steady, prices will continue to come down across the board.”
Ellen Ohene-Afoakwa, Absa Bank’s Managing Principal for Corporate and Investment Banking, noted: “Banks are willing to lend, but businesses must be in good shape to receive credit. Sound governance, financial discipline, and transparency matter.”

Building an Inclusive Financial Future

The seminar underscored the importance of transparent dialogue in driving policy reforms that support sustainable financial growth. Participants agreed that collaboration between policymakers, banks, and the business community is key to unlocking the next phase of Ghana’s economic development.

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