Kwamina Asomaning, President of the Ghana Association of Banks and Chief Executive of Stanbic Bank Ghana, is making the case for a fundamental shift in how Ghana funds its own growth. His message is direct: the country needs to build stronger capacity to mobilise domestic capital, and it needs to do it now.
Asomaning's call comes against the backdrop of Ghana's ongoing vulnerability to external financial pressures. The argument is straightforward. When a country leans too heavily on foreign financing, it leaves itself exposed every time global markets shift or investor sentiment cools. Building from within offers a more stable foundation.
For everyday Ghanaians, this conversation matters more than it might seem. Domestic capital mobilisation touches everything from how businesses access funding to how government finances public services without running to international creditors. It is, at its core, a question of economic sovereignty.
What that shift actually looks like in practice, and whether Ghana's banking sector has the appetite to lead it, is the conversation worth watching.
Originally published by AllAfrica.