The Bank of Ghana (BoG) has engaged stakeholders in the Bono East Region on financial literacy, consumer protection and the stability of Ghana’s financial system as part of efforts to strengthen public confidence in the central bank.
The engagement, held on Monday, October 12, 2026, at the Jemima Grace Hotel in Techiman, brought together 150 participants, including traditional and religious leaders, market queens, trader associations, small and medium-sized enterprises (SMEs), financial institutions, security agencies and media practitioners.
Held on the theme, “Strengthening Stakeholder Relations Through Dialogue and Engagement,” the forum forms part of the Bank’s 16-region outreach programme aimed at explaining its mandate, promoting financial inclusion and creating opportunities for direct engagement between the regulator and the public.
Leading the delegation, the Bank’s Director of Communications, Bernard Otabil, said stakeholder trust was essential to effective central banking and the implementation of monetary policy.
“The Cedi is not just paper. It is trust. It is a social contract between the Bank of Ghana and every Ghanaian,” he said.
He noted that monetary policies could only achieve their intended impact when the public, particularly traders and business owners, understood and trusted the measures being implemented.
Mr Otabil said the Bank was adopting a more people-centred approach that allows public concerns to inform its responses to challenges, including unlicensed financial schemes, currency abuse and misinformation.
The delegation also included Victor Akakpo, Head of the Regional Branch Coordinating Office, and Abdulai Lawal Abubakar, the Sunyani Regional Director with oversight responsibility for the Bono East Region.
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Technical presentations were delivered by experts from the Banking Supervision Department, Other Financial Institutions Supervision Department, Financial Stability Department and Currency Management Department.
The presentations covered the Bank’s mandate, microfinance sector reforms, responsible borrowing and consumer protection, currency education, and the causes, implications and prevention of dud cheques.
Participants were also educated on how to identify genuine Ghana cedi banknotes using the “FEEL, LOOK, TILT” method, detect counterfeit notes and handle currency properly.
The session on consumer protection highlighted borrowers’ rights, loan disclosure requirements and the need to avoid excessive indebtedness.
Discussions on microfinance reforms focused on their rationale and implications for operators within the sector.
Stakeholders raise concerns over lending rates
During an open forum, participants commended the Bank for bringing the engagement to their doorstep but raised concerns about access to affordable credit for SMEs and farmers.
They also questioned the persistence of high lending rates despite falling inflation and called for action against unregulated lenders and foreign exchange operators in the black market.
Participants further called for sustained public education on the security features of the new Heritage Series banknotes.
Bank officials responded to the concerns and assured participants that the issues raised would be escalated to Management for policy consideration.
BoG pledges continued regional engagement
Mr Otabil reiterated the Bank’s commitment to sustaining dialogue with stakeholders across all 16 regions as part of efforts to promote financial inclusion, improve financial literacy and strengthen the resilience of the financial system.
He urged the public to remain vigilant and report suspected unlicensed financial institutions, counterfeit currency and financial fraud to the Bank or the relevant law enforcement agencies.
The forum ended with a renewed call for collaboration between the Bank of Ghana and regional stakeholders to protect the value of the cedi and safeguard the stability of Ghana’s financial system.
