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

Ghana's banking sector has been urged by the Minister of Education, Haruna Iddrisu, to embrace emerging technologies, particularly artificial intelligence (AI), to enhance operations, boost customer confidence, and maintain competitiveness in the rapidly changing financial environment. This call was made during the 2026 Ghana Banking Conference, organized by the Chartered Institute of Bankers, Ghana, with the theme “Banking on the Future: Trust, Technology and Transformation.”

Iddrisu highlighted that the current macroeconomic stability provides an opportunity for the banking industry to reposition itself and contribute to the country's overall economic transformation. He emphasized that financial institutions should take full advantage of technological advancements, ensuring that innovation leads to improved services and increased financial inclusion.

Dr Ellen Ohene-Afoakwa, President of the Chartered Institute of Bankers, Ghana, stressed the importance of continuous professional development for banking professionals. She explained that the conference aimed to equip bankers with the necessary skills to respond to emerging developments in the sector. Ohene-Afoakwa called for prioritizing professional development, ethical conduct, and technological advancement to prepare members for the future.

Chief Executive of the Chartered Institute of Bankers, Robert Dzato, underscored the significance of trust in sustaining the banking industry. He described character, competence, and conduct as essential foundations of confidence in financial institutions. Dzato stressed that banks must collaborate with other stakeholders to address emerging risks, particularly fraud and cybersecurity threats, as the business of banking is fast-paced and trust depends on the character, competence, and conduct of bankers.