To Accelerate the Growth of SMEs, Bank of Ghana Collaborates with Two Parties.
The Bank of Ghana (BoG) has teamed up with two organizations to provide the nation’s micro, small, and medium-sized companies (MSMEs) access to international trade and financial cooperation prospects.
The Ghana Integrated Financial Ecosystem will be developed thanks to a memorandum of understanding (MOU) that the central bank signed last week with the Development Bank Ghana (DBG) and its Singaporean equivalent, the Monetary Authority of Singapore (MAS) (GIFE).
The three partners stated in a joint statement that the agreement sought to improve MSMEs’ access to financing and financial capabilities nationwide.
According to the statement, the GIFE was an initiative of public and private organizations, FinTechs, and tech solution providers in Ghana and Singapore.
Sopnendu Mohanty, the Chief FinTech Officer of MAS, stated that the MAS has collaborated closely with BoG ever since the Financial Trust Corridor was announced in 2020.