Ghana Association of Banks — sector representative organization; CEO John Awuah leads public advocacy on lending practices, fraud prevention, and digital finance security.
… Introduced in 2017 by the Bank of Ghana in collaboration with the Ghana Association of Banks, the Ghana Reference Rate was designed to provide a transparent and uniform benchmark for determining lending rates across the country’s banking sector. …
… John Awuah, Chief Executive Officer of the Ghana Association of Banks, said collaboration between banks and fintech companies had become increasingly important as financial services continued to expand through digital platforms. …
… He contrasted the situation with the banking sector, where institutions regularly meet through the Ghana Association of Banks to exchange intelligence and educate one another on emerging fraud trends. …
CEO of the Ghana Association of Banks, John Awuah, has warned that no Ghanaian is beyond the reach of fraudsters after revealing that he was targeted by scammers just moments after appearing on a radio programme to educate the public about cyber fraud. …
Ghana is not yet facing a digital trust crisis, but the country risks getting there if rising concerns around fraud are not addressed urgently, Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, has warned. …
The Ghana Association of Banks (GAB) has expressed with deep concerns the unfortunate incident that occurred on Friday 10th July 2026, during the two-day national clean up exercise at a member bank’s premises. …
Chief Executive Officer of the Ghana Association of Banks (GAB), John Awuah, says technology alone cannot protect digital finance users who expose their passwords, PINs, ATM cards, phones and account details to fraudsters. …
… The Ghana Association of Banks’ overview of the report shows payment service providers recorded 15,673 fraud cases in 2024, while the value at risk in the sector rose by 18 percent to about GH¢19 million. …
… According to an overview of the Bank of Ghana report by the Ghana Association of Banks, payment service providers recorded 15,673 fraud cases in 2024, representing a seven per cent rise from 2023. …
The Bank of Ghana has directed banks to strengthen their fraud management functions by giving fraud units direct and unrestricted access to managing directors and chief executive officers. Governor Dr Johnson Asiama said the arrangement is necessary to ensure independence and effectiveness of fraud management, and that personnel responsible must have requisite skills and professional certifications.
The Bank of Ghana has directed banks to strengthen their fraud management functions by giving fraud units direct and unrestricted access to managing directors and chief executive officers. Governor Dr Johnson Asiama said the arrangement is necessary to ensure independence and effectiveness of fraud management, and that personnel responsible must have requisite skills and professional certifications.
Ghana's benchmark lending rate declined to 10.04% in October from 10.18% in September, driven by reductions in Treasury bill and interbank market rates despite the central bank's policy rate remaining at 14%. The easing is expected to provide relief to borrowers with variable-rate loans as lending costs continue to decline.
The Ghana Association of Banks CEO John Awuah defended banking sector lending practices, citing private sector credit growth of 29 per cent year-on-year in real terms and a decline in commercial lending rates from over 18% in March to 15.9% currently, with new loans attracting rates between 9 and 12%.
Ghana's financial system has substantial liquidity and institutions seeking returns, yet many businesses struggle to obtain appropriately structured capital for expansion and employment creation. The missing link is an effective system for converting savings into appropriately structured finance for investment-ready enterprises.
ProMark Elite Limited and KPMG are collaborating through the Digital Assets Summit Africa to support Africa's digital assets agenda, which has shifted from technology interest to establishing regulatory rules, institutional capacity, and translating innovation into economic value. The focus now extends beyond cryptocurrency trading to include payment systems, cross-border transactions, tokenisation, financial inclusion, and consumer protection.
The Ghana Association of Banks and the Cyber Security Authority launched the 2026 National Cyber Security Awareness Month in Accra, emphasizing banks' role as frontline partners in combating financial fraud through trust, intelligence-sharing with regulators and among themselves, and shared responsibility between institutions and customers.
The Ghana Reference Rate fell from 10.61% in August to 10.18% in September, driven by lower Treasury bill and interbank rates. The decline could ease borrowing costs for variable-rate loan customers as lending rates compete downward.
The Agricultural Development Bank participated in the final leg of the Ghana Association of Banks' Fraud Roadshow and Market Storm in Accra on August 29, 2026, under the theme "Spot The Fraud, Stop The Fraud." The campaign aims to educate customers on fraud prevention and safer banking practices, with ADB's managing director emphasizing the importance of customer vigilance in protecting personal and banking information.
Ghana has secured macroeconomic gains with GDP growth beating projections, eased price pressures, strengthened fiscal metrics, and expanding private credit alongside lower interest rates. The country's challenge has shifted from escaping instability to making stability productive.
The Bank of Ghana and the Chartered Institute of Bankers Ghana have committed to deeper collaboration to strengthen ethics, professionalism, and resilience in the banking sector. The commitment came during a courtesy visit where both institutions discussed customer protection, fraud prevention, digital assets, banking reforms, and the role of emerging technologies.
An opinion piece analyses the Bank of Ghana's potential role in supporting government efforts to indigenise Ghana's mining sector, as locally-owned firms like Engineers and Planners Limited take over concessions such as the Damang Mine from foreign operators.
Ghana's Reference Rate, the benchmark used by commercial banks to price loans, is set to rise marginally to 10.61% in August 2026, up from 10.59% in July, largely due to an increase in the 91-day Treasury bill rate. The increase is expected to translate into a modest rise in lending rates, particularly for borrowers with variable-rate loans.
MobileMoney Fintech Limited has assured customers that funds in mobile money wallets are protected through regulated trust accounts maintained with partner banks and supervised by the Bank of Ghana. Electronic money is held by partner banks rather than directly by payment service providers or fintech companies.
Hubtel's Head of Internal Affairs Ebenezer Boffour has warned that payment service providers in Ghana operate in silos and fail to share information effectively, undermining the country's efforts to combat fraud despite all institutions being held to similar regulatory and security standards.
John Awuah, CEO of the Ghana Association of Banks, warned that all Ghanaians remain vulnerable to fraud after revealing he was targeted by scammers minutes after a radio interview on cyber fraud. He cautioned that belief in one's immunity due to education or professional status leaves people exposed.
Ghana is not yet facing a digital trust crisis, but risks getting there if rising fraud concerns are not addressed urgently, according to the CEO of the Ghana Association of Banks. Signs of declining confidence are already emerging as consumers begin to question digital transactions and payment processes they previously trusted.
Ghana's maiden Digital Economy Forum airs tonight at 8 p.m. on JoyNews and Joy FM, bringing together policymakers, regulators, financial institutions, and academics to discuss digital fraud's impact on consumer confidence and business growth.
The Ghana Association of Banks has expressed concern over an incident on July 10, 2026, during a national cleanup exercise, when the MP for Okaikwei North allegedly entered a member bank's branch, forced her way to the manager's office, and used demeaning language toward staff over the branch's decision to remain open. GAB stated it will not tolerate conduct seeking to demean, intimidate, or undermine the integrity of its member banks' staff, who were complying with applicable legal frameworks and government guidance.
Ghana Association of Banks CEO John Awuah says technology alone cannot protect digital finance users who expose passwords, PINs, cards and account details to fraudsters; he emphasizes that while banks invest heavily in cybersecurity and comply with strict security standards, users themselves remain critical to the security chain.
The founder of e-Crime Bureau says digital fraud in Ghana flourishes due to lack of user awareness and weak institutional systems to detect and prevent attacks. He argues that stronger "capable guardians" — including awareness, systems, and capacity for fraud detection and prevention — are needed as more people use mobile money, banking apps, and online platforms.
e-Crime Bureau founder Dr Albert Antwi-Boasiako says cybercrime losses are so significant that if cybercrime were a country it would rank among the world's largest economies; West Africa and Ghana carry a significant share of these losses. The warning comes ahead of a Digital Economy Forum examining how fraud affects confidence in Ghana's digital economy.
Ghana's financial sector stakeholders have identified deeper collaborations among regulators, financial institutions, service providers, the public and media as necessary to address growing fraud, particularly in the Payment Services Providers segment. The Bank of Ghana's 2025 Fraud Report shows fraud cases rose from 16,733 in 2024 to 24,778 in 2025, though banking sector fraud fell 34 per cent while PSP fraud rose.
The Ghana Reference Rate increased marginally to 10.59% in July 2026 from 10.02% in June, driven mainly by higher 91-day Treasury bill rates and the Bank of Ghana's decision to raise the Cash Reserve Ratio to 20% from 15%; the rise could lead to an increase in lending rates over the next month, though borrowers with fixed-rate facilities are not expected to be affected.
Banks and fintech companies disagree over who faces heavier regulation in Ghana's digital financial sector, with each claiming the other operates under lighter supervision. The Bank of Ghana's Head of Fintech and Innovation says the real concern is that fraud can spread across the entire financial system if any part is weakly regulated.
PwC's 2026 Ghana Banking Survey warns that while lower interest rates are expected to support economic growth, they threaten banks' traditional earnings by compressing net interest margins, requiring banks to diversify revenue streams and embrace digital, transaction-driven business models to sustain profitability.
The Bank of Ghana's Head of Fintech and Innovation warned that increasing fraud cases could erode public trust in digital financial services and reverse progress towards a cash-lite economy. He noted that 16,733 fraud cases were recorded across banks and payment service providers in 2024, up from 15,865 in 2023.
An economist at the University of Ghana warns that arrests and prosecutions alone cannot solve the country's digital fraud problem; Ghana must pair enforcement with stronger financial literacy and cybersecurity education as digital payment use grows.
The Bank of Ghana's Head of Fintech and Innovation is calling for a coordinated, industry-wide system to combat fraud across banks, mobile money operators, and fintech companies, arguing that separate systems are inadequate in an interconnected ecosystem. Ghana's digital financial sector recorded 16,733 fraud cases in 2024, up from 15,865 in 2023, with payment service providers accounting for the majority.
A University of Ghana economist says digital finance platforms are helping unbanked citizens and informal-sector workers enter the formal economy by lowering barriers to financial access, but warns that fraud-related mistrust could push users back to cash and undermine financial inclusion gains.
The Ghana Association of Banks held its first regional roadshow of the #ShineYourEye Anti-Fraud Campaign in Tamale, educating residents on fraud prevention including identity theft, phishing and ATM fraud as part of a five-month nationwide public education initiative.