We cannot build strong economies on weak markets — Vice President

Vice President Professor Jane Naana Opoku-Agyemang has called for stronger financial institutions and deeper market reforms as a foundation for sustainable economic growth.

She made the remarks while addressing participants at the 2026 ACI World Congress in Accra on Friday, May 22.

The event, themed "Elevating markets, empowering people," brought together global financial market professionals to discuss innovation, regulation and market development.

She emphasised that the global economy is currently facing multiple shocks, including inflationary pressures, rising debt burdens, geopolitical tensions and rapid technological disruption.

According to her, these challenges are reshaping trade finance, investment flows, fiscal planning and the cost of capital across emerging markets.

“We cannot build strong economies on weak markets. Resilient markets cannot be built without trust, and trust cannot exist without competence, ethics, and robust institutions,” she said.

The Vice President noted that financial systems are increasingly driven by data, automation and artificial intelligence, cautioning that innovation must be matched with strong governance frameworks.

She said AI is transforming risk analysis, fraud detection and decision-making processes, but also raises accountability concerns.

“We must invest in data governance, cyber resilience, local skills, regulatory capacity, and ethical frameworks. We must also ensure that smaller institutions and emerging markets are not left behind,” she noted.

Prof. Opoku-Agyemang stressed the need to deepen Ghana’s domestic capital markets, strengthen foreign exchange systems and improve transparency to attract long-term investments.

She also highlighted ongoing efforts to expand local currency financing, develop yield curves and strengthen pension and insurance asset mobilisation.

According to her, the African Continental Free Trade Area (AfCFTA) presents an opportunity to integrate fragmented markets and enhance cross-border financial cooperation.