More than eight in 10 adults in Ghana have a bank or financial account, but only 22% were considered financially healthy in 2021, Deputy Finance Minister Thomas Nyarko Ampem has said.
He announced the figures on Thursday, November 5, as the Ministry of Finance began developing a National Financial Inclusion and Development Strategy covering 2027 to 2031.
Queen Maxima of the Netherlands, the UN Secretary-General’s Special Advocate for Financial Health, attended the event. Earlier in the week, she had urged banks to move beyond simply opening accounts at the Bank of Ghana.
“We have become good at opening accounts. We must now become better at making accounts improve lives,” Mr Ampem said.
The 81% figure comes from the World Bank’s Global Findex 2025 report, which recorded account ownership in Ghana at 81% in 2024. A Presidency statement issued during the Queen’s visit said ownership had increased from 29% in 2011.
The 22% figure is based on the 2021 FinScope survey, rather than the Findex report. It represents the proportion of adults classified as financially healthy at that time.
The Ministry of Finance says the difference shows why access to financial services can no longer be the only measure of progress. Its focus will be on services that help households manage everyday expenses, cope with financial shocks and build savings.
New financial inclusion strategy
A National Technical Committee made up of representatives from the Ministry, financial regulators and other institutions will prepare the strategy.
The Ministry expects to launch the plan during the first half of 2027, following the 2027 Budget on November 12.
The proposed strategy will aim to expand affordable financial services, support digital products, improve consumer protection and strengthen financial literacy. Women, young people, farmers, informal workers and small businesses have been identified as groups requiring particular attention.
The government also plans to establish a Financial Inclusion Council to coordinate the institutions responsible for implementing the strategy.
A separate financial health framework will monitor whether households can meet regular bills, withstand unexpected financial pressure, and save or invest.
Mr Ampem highlighted economic growth of 6.2% in the first half of 2026. He also said inflation had dropped from 23.8% in December 2024 to 5.5% in October 2026.
The October figure, published by the Ghana Statistical Service, was an increase from 5.2% in September but remained far below the level recorded in December 2024.
“Our ambition is for an economy that creates opportunity, a financial system that enables participation, and a society in which more people can build secure and prosperous lives,” Mr Ampem said.
President’s meeting with Queen Maxima
The Presidency said President Mahama and Queen Maxima discussed financial products for informal workers, women and smallholder farmers.
Their discussions included easier complaint-resolution processes, stronger protection against scams and pension arrangements for workers in the informal sector.
President Mahama also outlined plans for a Women’s Development Bank, which would provide capital and guarantees to help women expand their businesses. The bank was discussed but has not been launched.
Queen Maxima said financial services should improve people’s livelihoods and that stable prices should give banks the confidence to lend to the real economy.
At the Ministry, she called for financial-health data to be separated by gender, age, and rural or urban residence, allowing policy-makers to identify and address gaps.
Finance Minister Dr Cassiel Ato Forson, who hosted the Queen, has said a stronger economy must also deliver greater financial security for households.
