BoG calls for shift from financial access to financial health to deepen inclusion

Asare concluded that achieving true financial inclusion requires ensuring that no vulnerable group is left behind and that financial services contribute meaningfully to improving livelihoods and supporting Ghana's long-term economic development.

Ghana must move beyond expanding access to financial services and focus on improving the financial well-being of its citizens if it is to achieve sustainable economic growth, that’s according to Head of FinTech and Innovation at the Bank of Ghana (BoG), Elhanan Owureku Asare.

He explained that a financial system that mobilizes savings without effectively channeling them into productive investments weakens economic growth and reduces the effectiveness of monetary policy.