Financial inclusion must go hand in hand with investor protection – BoG Governor

Bank of Ghana Governor, Dr Johnson Asiama, has emphasized the importance of bolstering investor protection in tandem with expanding financial inclusion in Ghana. He cautioned that efforts to widen access to financial services should not undermine investor safeguards. At the platform inauguration, Dr Asiama highlighted the need for regulators and market participants to safeguard investor records while maintaining reliable authentication and service continuity.

He underscored the importance of swift responses to incidents, clear procedures for rectifying errors, and efficient complaint resolution channels. Dr Asiama urged the platform to provide clear communication about its functions and limitations, ensuring first-time investors can utilize it without confusion. He also advocated for enhanced investor education and a deeper comprehension of investment products, associated risks, and investor responsibilities.

Dr Asiama stressed that financial inclusion should go hand in hand with financial literacy and investor protection. He noted that banks are crucial to Ghana's economic financing, but a more inclusive and broader capital market would provide businesses and government access to a wider pool of long-term capital, fostering savings, investment, and sustainable economic growth.