The Governor of the Bank of Ghana (BoG), Dr Johnson Pandit Asiama, has called for the establishment of a dedicated digital portal to improve access to national statistical data and support economic research, policymaking, and business development.
Speaking at the launch of the maiden edition of the Ghana in Numbers 2025 report in Accra, Dr Asiama emphasised the importance of making reliable statistical information available in machine-readable formats. He said this would enable researchers, academics, policymakers, and businesses to use artificial intelligence (AI), machine learning, and advanced data analytics to identify economic trends and make informed decisions.
BoG Governor Highlights Importance of Reliable Economic Data
Dr Asiama commended the Ghana Statistical Service (GSS) for publishing the Ghana in Numbers 2025 report, describing it as a valuable national resource for understanding Ghana’s economic and social conditions.
According to him, improved access to accurate and reliable statistics would strengthen evidence-based policymaking, support business investment decisions, and enhance public understanding of the country’s development progress.
He noted that high-quality economic data remained essential to the Bank of Ghana’s monetary policy decisions and financial-sector regulation, particularly in monitoring inflation, exchange rate movements, economic growth, credit conditions, and international economic developments.
The Governor added that advances in artificial intelligence, machine learning, and data science could significantly improve economic forecasting, risk assessment, and the analysis of complex financial information.
Bank of Ghana Strengthens AI and Data Analytics Capacity
Dr Asiama disclosed that the Bank of Ghana was strengthening its analytical capabilities through the establishment of a dedicated Data Analytics and Artificial Intelligence Department.
He also revealed that the central bank was developing a directive to regulate the use of artificial intelligence in Ghana’s financial sector.
The proposed regulation is intended to encourage technological innovation while addressing potential risks associated with the adoption of AI in banking and other financial services.
The initiative reflects the growing importance of digital transformation, financial technology, and data-driven decision-making in Ghana’s financial system.
Ghana Inflation Remains in Single Digits
Providing an update on Ghana’s macroeconomic performance, Dr Asiama said inflation had remained in single digits for 13 consecutive months, while the Ghana cedi had recorded relative stability despite external economic pressures.
He further noted that the resilience of the banking sector had improved significantly, with lending conditions becoming more favourable for businesses and individuals seeking credit.
According to the BoG Governor, the average lending rate declined from 30.25 per cent in December 2024 to 15.78 per cent in September 2026.
Real private-sector credit growth also increased from 0.20 per cent in December 2024 to 26.42 per cent in September 2026.
The developments highlight changes in Ghana’s monetary conditions, credit market, and financial-sector performance.
Dr Asiama stressed that maintaining macroeconomic stability and a strong financial system was essential to improving access to finance, encouraging private-sector investment, and supporting productive economic activities.
Youth Entrepreneurship and Economic Growth
The BoG Governor also highlighted the economic opportunities presented by Ghana’s large youth population, noting that young people could play a significant role in driving innovation, entrepreneurship, and national development.
However, he explained that unlocking this potential would require relevant skills development, stronger enterprise support systems, and an investment-friendly environment capable of creating sustainable employment opportunities.
He added that reliable demographic, social, and economic statistics would help policymakers identify gaps in opportunities and develop targeted interventions to address the needs of young people.
Access to accurate data, he said, would also help institutions evaluate development programmes and formulate policies that promote inclusive economic growth.
Ghana in Numbers 2025 Focuses on Youth and Demographic Transition
The maiden edition of the Ghana in Numbers 2025 report is themed “Youth and the Demographic Transition.”
The publication brings together important national statistics to support economic planning, public policy formulation, investment decisions, and a better understanding of Ghana’s demographic and socioeconomic conditions.
Dr Asiama urged stakeholders to view the report as more than a collection of statistics, describing it as a national resource for measuring development progress, identifying challenges, and making informed decisions about Ghana’s future.
He reiterated that improving access to reliable data would strengthen economic analysis, enhance financial-sector decision-making, and help Ghana develop policies that respond to the country’s changing economic and demographic needs.
Source: newsthemegh.com