Accra, Ghana – 18 March 2026
On Wednesday, 18 March 2026, the ABSA–UPSA Law School Quarterly Banking Roundtable XIII was held at the UPSA Auditorium in Accra, bringing together regulators, industry leaders, and financial sector practitioners to discuss ongoing regulatory reforms shaping Ghana’s non-bank financial sector under the theme “Regulating Microfinance in the Age of Fraud: Restoring Confidence and Growth.”
The CEO of Bayport, Akwasi Aboagye, was privileged to be part of the panel and shared perspectives on the evolving regulatory landscape for specialized deposit-taking institutions.
Reflecting on the discussions, he noted that the reforms underway go beyond compliance and are fundamentally reshaping the structure, resilience, and credibility of the non-bank financial sector. A key development is the increasing alignment of prudential standards across banks and non-banks, particularly around NPL ratio thresholds, liquidity requirements, and governance expectations. As these frameworks become consistently applied, the historical perception of non-banks as inherently higher risk is expected to diminish over time, with well-managed institutions benefiting from improved funding access and pricing.
He further highlighted the introduction of a more structured liquidity support framework through ARP Apex as a significant step in strengthening systemic confidence. This provides specialized deposit-taking institutions with a clearer and more reliable backstop during periods of stress, helping to stabilize the sector and support sustainable growth.
Beyond stability, Mr. Aboagye emphasized that the reforms also create a pathway for stronger and more profitable business models. With improvements in payments infrastructure and clearing systems, non-bank institutions are now better positioned to deepen customer relationships, expand customer acquisition, and transition towards more transaction-driven banking models. This shift is critical, as it enables institutions to build diversified and recurring income streams, reducing over-reliance on traditional lending margins.
He noted that this evolution, if properly executed, should translate into:
- Stronger and more stable deposit mobilization, particularly CASA growth
- Lower cost of funds over time
- Improved asset quality driven by better underwriting discipline
- More resilient earnings through diversified income streams
While acknowledging the progress made, he stressed that the true impact of these reforms will depend on consistent and disciplined implementation across the industry. Over the next 12 to 24 months, success will be measured not just by compliance, but by tangible outcomes in profitability, liquidity strength, and risk management.
On fraud risks, he observed that challenges within the sector are not solely technology-driven but are often rooted in people, processes, and control environments, including internal collusion and identity-related vulnerabilities. Addressing these issues will require stronger internal controls, clearer accountability frameworks, and deeper collaboration across institutions and regulators.
The roundtable concluded with a shared commitment among stakeholders to advance reforms that will position Ghana’s non-bank financial sector as more resilient, competitive, and trusted, while supporting financial inclusion and long-term sector stability.
