Bank of Ghana launches National Virtual Asset Literacy Initiative

By:  Nana Appiah Acquaye

The Bank of Ghana, in collaboration with the Securities and Exchange Commission, has launched the National Virtual Asset Literacy Initiative (NaVALI) as part of efforts to promote responsible adoption and use of virtual assets in the country.

The initiative was officially launched in Accra, under the theme “Understand Before You Undertake,” reflecting the regulators’ emphasis on public education as a foundation for effective oversight of emerging financial technologies.

Speaking at the launch, Bank of Ghana Governor, Dr. Johnson Asiama, underscored the importance of collaboration in building a well-informed virtual asset ecosystem. He noted that regulation and enforcement cannot be achieved by regulators alone, stressing that the broader ecosystem must be equipped with a clear understanding of virtual asset activities, their implications, and the risks involved. According to him, this reality highlights the need for public education, consumer protection, and regulatory preparedness, which NaVALI is designed to address.

Dr. Asiama also referenced the recent passage of the Virtual Asset Service Providers Act, describing it as a significant milestone in the development of Ghana’s financial sector. He said the Bank of Ghana and the Securities and Exchange Commission are now focused on putting in place the necessary structures, systems, and processes to operationalise the Act, while addressing regulatory gaps and mitigating associated risks.

He further described the launch of NaVALI as a foundational step toward building an effective framework for regulation, consumer protection, and sustainable innovation in the virtual asset space, indicating that the initiative will play a central role in shaping the future of virtual asset governance in Ghana.