Accra, Feb. 27, 2025 GNA – The Bank of Ghana (BoG) and the National Bank of Rwanda (NBR) have signed a Memorandum of Understanding (MoU) to introduce a licence passporting framework.
This would ensure and enable cross-border payment interoperability for regulated fintech companies in both countries.
The agreement, formalized on February 25 during the Inclusive Fintech Forum in Kigali, Rwanda, seeks to simplify cross-border expansion for fintech firms licensed in either country, minimize regulatory redundancies and foster innovation.
Under the new framework, fintech companies regulated by either central bank will gain streamlined access to operate in both Ghana and Rwanda, eliminating the need for duplicate licensing processes.
This initiative aims to accelerate financial inclusion, enhance trade efficiency, and create opportunities for micro, small, and medium enterprises (MSMEs) across both economies.
The collaboration will establish interoperable payment systems to facilitate seamless transactions between the two nations.
Dr. Johnson Asiama, Governor of the Bank of Ghana, emphasized the broader vision behind the partnership, “This MoU reaffirms our commitment to an integrated African market. By reducing barriers for fintechs, we unlock innovation, job creation, and inclusive growth critical pillars for advancing prosperity on the continent.”
His Rwandan counterpart, Mr. John Rwangombwa, Governor of the National Bank of Rwanda, added, “Effective cross-border payment systems require forward-looking regulation that balances risk and opportunity. This agreement positions our nations to harness fintech’s potential responsibly.”
The three-day Inclusive Fintech Forum (February 24–26, 2025) provided a platform for central bank officials, policymakers, and industry leaders to align on strategies for Africa’s digital financial future.
GNA