Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has called for the creation of a dedicated electronic data portal to support the use of artificial intelligence (AI), machine learning and advanced analytics, as Ghana officially launched the maiden edition of the Ghana in Numbers 2025 report.
Speaking at the launch event in Accra on Thursday, Dr. Asiama described the publication as an important national resource that consolidates authoritative socio-economic data and makes official statistics more accessible to policymakers, businesses, researchers, development partners and the public.
He commended the Ghana Statistical Service (GSS) for the initiative, noting that the report would strengthen evidence-based decision-making and provide a clearer understanding of Ghana’s development progress and emerging challenges.
According to the Governor, reliable and timely statistics remain critical for the Bank of Ghana’s inflation-targeting framework and broader financial sector regulation.
“Effective monetary policy and financial-sector regulation depend fundamentally on the quality of the data available to us,” he said, explaining that the central bank relies on robust statistics to analyse inflation trends, exchange-rate developments, credit conditions and broader economic activity.
Dr. Asiama welcomed the inclusion of a dedicated monetary and financial-sector section in the report, highlighting that data on inflation, interest rates, private-sector credit, foreign reserves and banking sector performance provides valuable insights into Ghana’s economic landscape.
The Governor urged stakeholders to enhance the publication’s impact by making its underlying datasets available through an electronic, machine-readable platform.
He argued that such a system would allow researchers, policymakers and academic institutions to leverage AI and machine-learning tools to uncover deeper patterns and relationships within national data.
Dr. Asiama revealed that the Bank of Ghana is already strengthening its own data capabilities through the establishment of a Data Analytics and Artificial Intelligence Department.
The central bank, he said, is also developing a regulatory directive for the use of AI in Ghana’s financial sector to encourage innovation while addressing emerging risks associated with the technology.
The governor noted that the report’s theme, “Youth and the Demographic Transition,” focuses on one of the country’s most significant long-term development challenges and opportunities.
He said Ghana’s large youth population represents a major source of innovation and entrepreneurship but stressed that unlocking this potential requires investments in skills development, enterprise support and job creation.
Dr. Asiama emphasised that data-driven policies would be essential for understanding the needs of young people and designing effective interventions.
He further highlighted the role of macroeconomic stability and access to finance in supporting youth entrepreneurship and economic participation.
According to him, the gains from recent economic management measures are reflected in declining inflation, exchange-rate stability and stronger banking sector resilience.
The Governor disclosed that the average lending rate fell from 30.25 percent in December 2024 to 15.78 percent in September 2026, while growth in real private-sector credit increased sharply from 0.20 percent to 26.42 percent over the same period.
Beyond macroeconomic stability, Dr. Asiama said the Bank of Ghana continues to pursue initiatives aimed at expanding financial inclusion and improving access to formal financial services.
These efforts, he said, are focused on making financial services more affordable and convenient, particularly for young people, women, micro, small and medium-sized enterprises (MSMEs), and underserved communities.
He expressed confidence that Ghana in Numbers would evolve into a trusted national reference publication that promotes transparency, supports informed decision-making and contributes to building a more inclusive and prosperous economy.
“The publication should be seen not merely as a statistical report, but as a national resource for understanding our circumstances, evaluating our progress and making better decisions about our collective future,” he stated.
Source: businesspostonline
