In a keynote address to a banking and development-finance workshop on supporting small and medium-sized enterprises into sustainable global value chains, Bank of Ghana Governor Dr. Johnson P. Asiama outlined how banks are expected to expand SME access to finance and help firms meet export and sustainability requirements. He urged lenders to move beyond collateral-based lending by using cash-flow lending, purchase-order and supply-chain finance, to deploy risk-sharing tools including GIRSAL more actively, to partner with development finance institutions, to use digital rails such as e-invoicing and electronic trade documentation, and to bundle finance with advisory support on certification, traceability and carbon reporting. The Governor linked these priorities to measures the Bank of Ghana described as already underway, including financial sector reforms to strengthen bank capital, supervisory frameworks and risk management, and steps to improve credit infrastructure through credit bureaus and the Collateral Registry alongside reforms aimed at reducing non-performing loans. He also pointed to an established Financial Stability Council for cross-authority risk monitoring and coordination, promotion of green and transition finance products for SMEs, and continued expansion of digital financial services, with guidelines being designed for open banking and virtual asset service providers. On foreign exchange, he described a “new wave” of reforms intended to deepen interbank activity and transparency through stronger reporting, curb speculative and cash-driven demand via updated large-transaction guidelines and strengthened AML and KYC rules, provide more predictable access through clearer FX auction mechanisms, and advance a dedollarisation agenda by promoting cedi-based instruments and tightening discipline around foreign currency usage.
Bank of Ghana 2025-09-11
Bank of Ghana sets out SME financing and foreign exchange market reforms and flags upcoming open banking and virtual asset provider guidelines
Bank of Ghana Governor Dr. Johnson P. Asiama emphasized enhancing SME access to finance and supporting firms in export and sustainability standards. He highlighted financial sector reforms, including strengthening bank capital, supervisory frameworks, and credit infrastructure, alongside promoting green finance and digital services. He also outlined foreign exchange reforms to enhance interbank activity, curb speculative demand, and promote cedi-based instruments.