Queen Máxima urges Ghana to prioritize financial health in national strategy

During her official visit to Accra, the UN Secretary-General’s Special Advocate for Financial Health, Queen Máxima, called on the Ghanaian government to integrate specific financial health goals into its upcoming National Financial Inclusion and Development Strategy (2027–2031). While Ghana has achieved significant success in expanding financial access—with approximately 81% of adults owning a financial account as of 2024—the visit highlighted a critical disparity: only 22% of Ghanaians are considered "financially healthy." The Queen emphasized that the focus of national policy must now shift from merely opening accounts to ensuring that financial services improve livelihoods and provide resilience against economic shocks.

Queen Máxima met with President John Mahama, Finance Minister Cassiel Ato Forson, and Bank of Ghana Governor Dr. Johnson Asiama to discuss leveraging digital finance for household security. Dr. Asiama noted that while Ghana is a leading digital finance market in Africa—driven by mobile money and fintech innovations—access alone is insufficient for economic transformation. He advocated for a focus on financial well-being, which includes the effective use of savings, insurance, and responsible credit. The Governor further highlighted that many micro, small, and medium enterprises (MSMEs) still struggle with credit access due to outdated assessment systems, suggesting that digital innovation and supportive regulation are crucial for future progress.

Deputy Minister of Finance Thomas Ampem Nyarko detailed the government's plans to launch the second phase of the National Financial Inclusion and Development Strategy in early 2027. This new framework will prioritize the quality and impact of financial services rather than just ownership figures. It aims to support vulnerable groups, such as women, farmers, and small businesses, by promoting financial literacy and affordable services. To oversee this transition, the government plans to establish a Financial Inclusion Council and a dedicated financial health measurement framework to track citizens' ability to meet daily expenses and invest in their futures.

The proposed shift toward financial health involves a collaborative approach between the public and private sectors. Queen Máxima suggested the creation of a national financial health council to better coordinate these efforts, focusing on emergency savings and long-term financial products like pension schemes. By moving beyond account registration to active usage, Ghana seeks to foster a more sustainable economic environment where financial tools serve as a foundation for long-term growth and individual security rather than just a means for short-term transactions.