Open Banking in Ghana

Ghana is working toward an open banking framework under the direction of the Bank of Ghana (BOG). The central bank has been developing regulatory guidelines and engaging with industry stakeholders since 2022, aiming to standardize data sharing across banks and mobile money operators.

Ghana's mobile money ecosystem, driven by operators like MTN MoMo and Vodafone Cash, has been instrumental in expanding financial access. The open banking framework aims to build on this infrastructure, enabling interoperability between banks, mobile money providers, and fintechs through standardized APIs.

Ghana's growing fintech sector and progressive regulatory approach position it as a potential leader in West African open banking. The BOG has demonstrated willingness to innovate, including launching a CBDC pilot (e-Cedi), suggesting an open approach to financial technology development.