Ghana’s banking sector urged to embrace AI, technology to remain competitive

Ghana's banking sector is being encouraged to adopt emerging technologies, notably artificial intelligence (AI), to enhance operations, boost customer confidence and remain competitive in a swiftly changing financial environment. This call was made by the Minister of Education, Haruna Iddrisu, during the 2026 Ghana Banking Conference organized by the Chartered Institute of Bankers, Ghana. The conference, themed "Banking on the Future: Trust, Technology and Transformation," took place under the auspices of the Minister.

Iddrisu noted that the current macroeconomic stability offers the banking sector a chance to reposition itself and contribute to the nation's broader economic transformation. He stressed the importance of leveraging technological advancements, while ensuring that innovation leads to improved services and greater financial inclusion. The minister also advocated for strengthened financial literacy, particularly at the basic education level, to empower young people with the knowledge to make informed financial decisions.

Ellen Ohene-Afoakwa, President of the Chartered Institute of Bankers, Ghana, highlighted the need for banking professionals to continually enhance their skills to stay relevant in the rapidly evolving sector. The conference was designed to equip bankers with the necessary knowledge and competencies to respond to emerging developments in the industry. She emphasized that the institute is focused on professional development, ethical conduct, and technological advancements to prepare members for the future.

Ohene-Afoakwa stated, "We need to ensure that our members have the skill sets for their future," adding that the profession must remain relevant as technology continues to reshape banking operations. Robert Dzato, Chief Executive of the Institute, also underscored the significance of trust in sustaining the banking industry. He described character, competence, and conduct as essential foundations of confidence in financial institutions, emphasizing that banks must collaborate with other stakeholders to tackle emerging risks, especially fraud and cybersecurity threats.

"The business of banking is fast. It is the currency in banking, and that trust comes from character, competence and conduct of bankers," Dzato stated.