Bank of Ghana’s Old Headquarters in Accra
The Bank of Ghana and the National Bank of Rwanda have signed a Memorandum of Understanding (MoU) to introduce a licence passporting framework and cross-border payment interoperability for regulated financial technology (fintech) companies.
The partnership aims to foster an interconnected African fintech landscape, reinforcing the vision of seamless financial transactions across the continent.
The signing ceremony took place on February 25, 2025, at the Inclusive Fintech Forum in Rwanda.
In a statement issued by Ghana’s central bank, it noted that the new licence passporting framework aims to streamline cross-border operations for regulated fintech companies licensed by either country’s central bank.
Additionally, the initiative is expected to facilitate the expansion efforts of fintech firms in Ghana and Rwanda with minimal additional regulatory requirements, fostering innovation and growth in the financial technology sector of both nations.
Governor of the Bank of Ghana, Dr. Johnson Asiama, emphasized the significance of the agreement, stating, “The signing of this memorandum of understanding reaffirms our commitment to the broader idea of an integrated African market, which holds the prospect of enhancing the livelihoods of our citizens and creating opportunities for an environment that encourages fintech innovation and investment, ultimately benefiting our economies, particularly MSMEs.”
Echoing similar sentiments, the Governor of the National Bank of Rwanda, John Rwangombwa, highlighted the importance of regulatory alignment in fostering cross-border payment solutions.
“We recognize that creating an effective cross-border payment infrastructure requires more than just innovation. It demands a forward-thinking regulatory framework that balances risks and opportunities,” he stated.
Meanwhile, both countries are optimistic that this enhanced cooperation will contribute to greater economic prosperity and development within the payment ecosystem.
MA