The Bank of Ghana (BoG) has reiterated its commitment to safeguarding the country’s financial sector from growing digital threats by enhancing cybersecurity efforts through a renewed focus on collaboration and regulatory reform.
At the Financial Industry Command Security Operations Center (FICSOC) Stakeholders Forum in Accra, Dr. Zakari Mumuni, First Deputy Governor of the Bank of Ghana, highlighted the central bank’s strategic partnership with the Cybersecurity Authority. This partnership is aimed at defending Ghana’s financial institutions from a rapidly evolving landscape of digital threats.
“The Cybersecurity Authority has officially designated the Bank of Ghana as the lead Sectoral Computer Emergency Response Team (CERT) for the financial industry,” Dr. Mumuni announced. “This role is not just ceremonial, but a mandate to coordinate and lead a collective defense across the entire financial sector.”
He emphasized that the financial sector faces a range of digital risks, including insider breaches, advanced persistent threats, and digital fraud. In this capacity, the BoG will spearhead initiatives to foster intelligence sharing and create a unified response to cybersecurity incidents within the industry.
Dr. Mumuni also unveiled plans for a comprehensive revision of the Bank of Ghana’s Cyber and Information Security Directive to better address emerging risks from innovations such as artificial intelligence, cloud computing, and data privacy concerns.
“The revised directive will be adaptable and proportional to the needs of different institutions, enabling innovation while ensuring that robust cybersecurity measures are maintained,” he explained.
Matilda Asante-Asiedu, Second Deputy Governor of the BoG, added that the collaboration among financial institutions and regulatory bodies is essential. “Together, we are stronger,” she said. “We defend with shared purpose, tools, and expertise.”
The forum, attended by senior officials from financial institutions, cybersecurity experts, and government regulators, aimed to establish a collaborative platform for risk prioritization and resource sharing across Ghana’s financial ecosystem. The establishment of the FICSOC is a significant step toward building a more secure and resilient financial infrastructure, in line with global best practices.
With these new initiatives and strategic collaborations, the Bank of Ghana is setting the stage for a more secure and digitally resilient financial sector.
