Johnson Pandit Asiama

10/09/2026

What exactly is a dud cheque?

A dud cheque is a cheque issued on an account that does not have sufficient funds to cover the amount stated on the cheque.

When this happens, the cheque may be rejected and returned unpaid, with consequences for the account holder.

Understanding the rules is the first step to avoiding the consequences.

Know your balance. Fund your account. Make sure your cheque will clear.

10/09/2026

Before You Issue a Cheque

Before you sign that cheque, check your account.

A little planning can help you avoid the financial and other consequences associated with issuing a dud cheque.

Before issuing a cheque:

Ensure sufficient funds are available;
Check your current account balance;
Take pending transactions into account; and
Keep track of cheques you have already issued.

Before you issue it, make sure it will clear.

03/09/2026

The latest World Bank assessment of Ghana's economy points to a broad strengthening of macroeconomic conditions.

The report highlights a sharp decline in inflation, improved financing conditions, stronger private sector credit, rebuilt international reserves, and a more resilient banking sector. It underscores Ghana's 2025 disinflation episode, noting that monetary easing is increasingly being transmitted to households and businesses.

The external and financial sectors have also strengthened, supported by improved reserve buffers, stronger bank capitalisation and profitability, and a decline in non-performing loans.

For the Bank of Ghana, the priority remains to preserve these gains and continue building the conditions for sustainable investment, business activity, and economic growth — anchored on price stability and a sound financial system.

Read the full World Bank 10th Ghana Economic Update here: https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099082426193065498

02/09/2026

The World Bank’s 10th Ghana Economic Update, “Reset for Growth: Sustaining Macroeconomic Recovery and Unlocking Transport for Transformation”, provides an important independent assessment of Ghana’s recent economic recovery. The report finds that Ghana’s macroeconomic recovery has been substantial, with meaningful progress across monetary, external, fiscal, debt and financial-sector conditions.

Of particular importance to the Bank of Ghana, is the progress recorded in inflation, monetary conditions, the exchange rate, international reserves, private-sector credit and financial-sector stability.

The World Bank describes Ghana’s 2025 disinflation as “among the most dramatic in its recorded economic history.” Inflation declined from 23.2% in February 2025 to 5.4% by December, with the report identifying tight monetary policy, cedi appreciation and easing food prices as key drivers.

As inflation expectations became better anchored, the Bank of Ghana was able to progressively ease monetary policy. The policy rate declined from 28% in April 2025 to 14% by March 2026, while average bank lending rates fell from about 27.0% in June 2025 to 15.6% in June 2026.
The World Bank notes that this monetary easing is increasingly being transmitted to households and businesses.

The recovery in credit has been equally significant. Real private-sector credit grew by 34.1% year-on-year in June 2026, compared with a 4.5% contraction a year earlier, an important indication that improved macroeconomic and financing conditions are beginning to support private economic activity.

Ghana’s external buffers have also strengthened. Gross international reserves reached US$13.8 billion at end of 2025, equivalent to 5.7 months of import cover, with the World Bank describing the Bank of Ghana’s strategic rebalancing of part of its gold holdings into interest-earning foreign-currency assets as prudent reserve management.

The financial system is also strengthening alongside the broader recovery. By June 2026, banking-sector assets had reached GH¢502.4 billion, the capital adequacy ratio had risen to 20.4%, well above the 13% statutory minimum, and the non-performing loan ratio had declined from 23.1% to 16.1%.

Taken together, these developments show the importance of maintaining price stability, effective financial-sector supervision and prudent reserve management. The gains are significant, but they must be protected and consolidated. At the Bank of Ghana, our focus remains on safeguarding price and financial stability and ensuring that the improving macroeconomic environment increasingly supports businesses, households, investment and sustainable economic growth.

I encourage you to read the World Bank’s 10th Ghana Economic Update for the full assessment of Ghana’s progress, the challenges that remain and the priorities for sustaining the recovery.

https://documents.worldbank.org/en/publication/documents-reports/documentdetail/099082426193065498

01/09/2026

Yesterday, we continued an important conversation with members of Ghana’s Ecumenical Community on Non-Interest Banking and Finance.

Over the past year, we have listened carefully to questions and concerns from Christian leaders and organisations, engaged Islamic leadership, and brought different voices together as we developed the regulatory framework. Today’s engagement gave us another opportunity to listen, provide clarity and hear directly where further explanation is needed.

Our message is simple: Non-Interest Banking is about expanding choice in Ghana’s financial system. It complements conventional banking, rather than replacing it, and the products are available to anyone who chooses to use them.

At the Bank of Ghana, our responsibility is to ensure that these institutions and products are properly licensed, supervised and governed. Non-Interest Banking remains fully subject to the controls that protect depositors and the financial system, and those controls will be transparent, just as they are for conventional banking today.

Ghana’s religious diversity and peaceful coexistence are among our strengths. We will therefore continue to engage openly and respectfully as we work to build a financial system that is inclusive, responsive and worthy of the confidence of all Ghanaians.

30/08/2026

29/08/2026

Yesterday, the Bank of Ghana inaugurated the Preliminary Investigation Committee on Seized Foreign Currency. It is a new multi-agency body set up to close a serious gap in Ghana's financial system. Substantial amounts of foreign currency are reportedly moving through the country's airports and border points without the required declaration.

This matters for the integrity of Ghana's financial sector. Undeclared currency flows create room for money laundering, tax evasion and other illicit activity. They also weaken the financial intelligence that authorities rely on to monitor the system.

Currency that moves outside declared channels divert funds away from the very market the Bank works to strengthen.

We are working alongside the Ghana Revenue Authority, Ghana Airports Company Limited, National Security, EOCO, the Financial Intelligence Centre and the Attorney General's Office to safeguard the country's borders, markets and resources for every Ghanaian.

28/08/2026

At our Annual Meeting with Primary Dealers and Bond Market Specialists, the Bank of Ghana, Ministry of Finance and Central Securities Depository had the opportunity to share feedback with market participants, hear directly from them on the issues they encounter, and discuss practical ways to improve the functioning of Ghana’s government securities market.

A well-functioning financial market depends not only on good rules, but also on regular and open dialogue between those who oversee the market and those who operate in it.

These conversations matter. They help us identify what is working, address operational and regulatory challenges, strengthen market practices and ensure that the different parts of the market work effectively together.

As Ghana continues to rebuild depth, liquidity and confidence in its fixed-income market, this two-way engagement will remain important. A stronger market requires clear expectations from regulators, responsible participation by market institutions, and a willingness on all sides to listen, adapt and continuously improve.

And ultimately, this matters beyond the financial market itself. A market that works well helps government finance itself more efficiently, provides a stronger foundation for pricing credit and other investments, and supports the flow of financing to businesses and the wider economy. That is how better-functioning markets can translate into more opportunities for businesses to invest, expand and create jobs.

27/08/2026

Ghana’s improving macroeconomic environment is creating a stronger foundation for rebuilding confidence in the debt capital market.

Declining inflation, lower interest rates and improved macroeconomic stability are changing the conditions under which investors and businesses make long-term decisions. But stability must be sustained. Debt markets price the future with a close eye on the past, and confidence returns through consistent policy and credible institutions.

For the Bank of Ghana, the priority remains clear: preserve price stability, strengthen monetary policy transmission and support the conditions for a deeper and more efficient financial system.

As confidence strengthens and the market extends beyond short-term instruments, the opportunity is to build a stronger yield curve, deepen secondary-market activity and ultimately improve the flow of long-term capital to the wider economy.

Stability has reopened the door. Sustained credibility will determine how far the market can go.

27/08/2026

This week we inaugurated Ghana’s Virtual Assets Coordinating Committee, an important step in moving from legislation to effective implementation of the Virtual Asset Service Providers Act, 2025 (Act 1154).

Virtual assets are evolving rapidly and, alongside their potential applications, present important risks that require close regulatory attention. No single institution can address these risks alone. The Committee therefore brings together the Bank of Ghana, Securities and Exchange Commission, Ministry of Finance, Cyber Security Authority and Financial Intelligence Centre to strengthen coordination, information sharing and our collective response to emerging risks.

Our priority is to ensure that developments in this space do not compromise consumer protection, financial integrity or financial stability. At the same time, regulation must provide clear and responsible guardrails within which legitimate innovation can develop.

This is an important national assignment. As the virtual asset landscape continues to evolve, strong oversight, effective coordination and vigilance will remain essential to protecting Ghana’s financial system.