Ghana: Quality Data Key to Better Decisions, National Development - BoG Deputy Governor

What the report says

Ghana’s First Deputy Governor of the Bank of Ghana, Dr Zakari Mumuni, said policymakers need higher-quality data to support sound economic management and national development. His remarks were reported by Ghanaian Times in an AllAfrica-distributed article covering a conference in Tamale, where he addressed the annual meeting of the Ghana Statistical Association.

Dr Mumuni argued that in the era of artificial intelligence and big data, the main challenge is not collecting more information but ensuring that data is accurate, reliable, relevant and usable. He said statistics and data science should help public officials make decisions that are evidence-based and timely, and he stressed that poor definitions, weak classification and inadequate validation can produce misleading results even with advanced technology.

He also pointed to the Bank of Ghana’s own research and survey work, including price monitoring and confidence surveys across the country, as an example of gathering information beyond the capital to reflect wider economic conditions. The article says he encouraged the Ghana Statistical Service, universities, researchers and other institutions to collaborate more closely, and to use alternative data sources such as digital payments, tax records, telecoms and satellite imagery while maintaining standards, confidentiality and governance.

The broader significance of his remarks is that Ghana’s policy debate is increasingly focused on data quality and how quickly information can be turned into practical insight for the economy and public planning.