The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has proposed the establishment of a dedicated electronic portal to enhance access to national statistical data. This initiative aims to make data more usable for research, policymaking, and economic analysis. The proposed platform would provide underlying data in accessible, machine-readable formats. This would enable researchers, academics, policymakers, and other users to apply advanced analytical tools to uncover trends and relationships in the data.
Dr Asiama emphasized the importance of improved access to reliable statistics in strengthening evidence-based decision-making. This would help institutions better understand Ghana's socio-economic conditions. He commended the Ghana Statistical Service for the initiative, describing the publication as a vital national resource. The publication brings together authoritative information to support policy formulation, business decisions, and public understanding.
High-quality data remains fundamental to the Bank of Ghana's monetary policy decisions and financial-sector regulation. This is particularly important in assessing inflation, exchange rates, economic activity, credit conditions, and external developments. Dr Asiama highlighted that advances in data science, artificial intelligence, and machine learning offer opportunities to improve economic forecasts, assess risks, and generate insights from complex datasets.
The Bank of Ghana is strengthening its analytical capacity through the establishment of a Data Analytics and Artificial Intelligence Department. Additionally, the Bank is developing a directive to regulate the use of artificial intelligence in the financial sector. This initiative aims to promote innovation while addressing emerging risks.
On macroeconomic conditions, Dr Asiama reported that inflation had remained in single digits for 13 consecutive months. The exchange rate was relatively stable despite external headwinds. Furthermore, resilience in the banking sector had improved significantly, with lending conditions becoming more favourable.
According to Dr Asiama, the average lending rate declined from 30.25 per cent in December 2024 to 15.78 per cent in September 2026. Growth in real private-sector credit also increased from 0.20 per cent in December 2024 to 26.42 per cent in September 2026. A stable macroeconomic environment and a well-functioning financial system are crucial for improving access to finance and supporting productive economic activity.
Dr Asiama emphasized that Ghana's large youth population presents significant opportunities for innovation and entrepreneurship. However, realizing this potential requires relevant skills, enterprise development, and an enabling investment environment. Reliable demographic, social, and economic data would help policymakers identify gaps in opportunities and design interventions that respond to the needs of young people.
Key points
- The Bank of Ghana Governor proposes a digital portal for national data access
- Improved access to reliable statistics is crucial for evidence-based decision-making
- The Bank of Ghana is strengthening its analytical capacity through a Data Analytics and Artificial Intelligence Department
