The Bank of Ghana and the National Bank of Rwanda have signed a Memorandum of Understanding (MOU) to implement a License Passporting Framework and Cross-Border Payment Interoperability for regulated financial technology (fintech) companies.
A statement issued by the Bank of Ghana said the signing ceremony was held on February 25, 2025, at the Inclusive Fintech Forum held in Rwanda.
The license passporting framework is designed to facilitate easier cross-border operations for regulated fintechs licensed by either country’s central bank.
This initiative will enable the regulated fintechs in Ghana and Rwanda to expand their services with minimal additional regulatory requirements, thereby promoting innovation and growth in the financial technology sector of both countries.
The Governor of the Bank of Ghana, Dr. Johnson Asiama, highlighted the significance of this agreement, stating, “The signing of this memorandum of understanding reaffirms our commitment to the broader idea of an integrated African market, which holds the prospects of enhancing the livelihoods of our citizens and creates opportunities for an environment that encourages fintech innovation and investment, ultimately benefiting our economies, particularly MSMEs.”
By: Rainbowradioonline.com/Ghana
