A $200 million facility intended to promote small and medium-sized enterprises (SME s) has been made possible by the signing of a Memorandum of Understanding (MoU) between Ghana and the ECOWAS Bank for Investment and Development (EBID).
This is a component of the government’s promise to finance SME operations at lower interest rates in order to guarantee the viability of these businesses.
According to the President, Ghana’s Finance Minister signed the Memorandum of Understanding last Friday, May 10, 2024.
African nations were also tasked during the inaugural summit with realizing the potential of fintech in promoting economic growth and striving to remove regulatory obstacles preventing its full utilization.
By making the necessary investments, the continent may overcome its obstacles and catch up with wealthy nations on a global scale.
The 3i Africa Summit is a groundbreaking international conference that brings together experts from industry, government, finance, and academia to discuss and work together to unlock the digital economic potential of the continent enabled by Fintech.
Ghana is hosting the Summit in partnership with the Bank of Ghana, Development Bank Ghana, and the Monetary Authority of Singapore. They aim to discuss ideas for building a strong and secure financial system. The theme is “Unleashing Africa’s FinTech and Digital Economic Potential,” focusing on using digital resources to strengthen the continent’s financial and economic sectors. Thousands of industry experts will gather to find practical ways to achieve this goal.
